With COVID-19 felling stores and restaurants left and right, the owner of the Platform 35 market hall next to Wilshire/Normandie Station in Koreatown is pitching redevelopment plans for the property.
Greenbridge Investment Partners, the Beverly Hills-based firm which owns the property at 3500 Wilshire Boulevard, has announced its intent to submit plans to the City of Los Angeles to raze the existing two-story structure to make way for a high-rise apartment tower. The proposed 17-story building would include 169 residential units - including 20 deed-restricted affordable units - above 14,000 square feet of commercial space on the first and second floors.
The project, as currently conceived, would use Transit Oriented Communities incentives to obtain relief from certain zoning restrictions. Specifically, the proposed tower would not include on-site vehicle parking, although a 47-car garage is planned for commercial uses.
HED is designing the proposed development, which would be built with prefabricated modular units manufactured in Koreatown. Renderings depict a tower with an L-shaped mass, tilted to match the contour of Irolo Street. Amenity decks are planned at the tower's podium and roof levels.
The development site is located along busy stretch of Wilshire Boulevard, where prolific Koreatown developer Jamison Services, Inc. has multiple projects now in pre-development or under construction.
Just east at Ardmore Avenue, work is now underway to convert a 1950s office building into apartments, while new residential units are rising above an adjoining parking garage.
Directly across the street, Jamison is planning a pair of residential towers on a property spanning between Wilshire and 6th Street.
- Koreatown (Urbanize LA)