According to plans filed last month with the City of Los Angeles, a vacant commercial building in Van Nuys is slated to give way for a new residential-retail complex.
The project, located on a 1.2-acre property at 7111 N. Sepulveda Boulevard, would consist of a six-story building featuring 180 apartments and approximately 4,750 square feet of ground-floor retail space. Plans call for two levels of subterranean parking with accommodations for up to 327 vehicles and 204 bicycles.
LADCP records indicate that the proposed development would reserve 15% of its units for very low income households, or 27 total apartments. The inclusion of affordable housing would grant the project numerous incentives, including 35% density bonus, increased height and a modified parking program.
The low-rise complex is being developed by Fayz Holdings, a Los Angeles-based limited liability company.
Further details about the project are unavailable at this point in time.
- CPC-2015-3905-DB-SPR (LADCP)