One year after offering the Tarzana Neighborhood Council a sneak preview of a new development on Ventura Boulevard, development firm Yarcoh Investment, LLC has officially filed plans for the project with the City of Los Angeles.

The proposed development, which would rise from a one-acre site at the corner of Ventura and Aura Avenue, calls for the construction of a mixed-use building featuring 59 market rate and very low-income apartments.  Yarcoh is pursuing a density bonus for the project in exchange for the affordable housing, requesting an increase in floor area ratio, a decreased landscape buffer and a maximum height of 52 feet to account for an elevator shaft.

In its presentation to the Tarzana Neighborhood Council in January 2017, the developer indicated plans for 10,000 square feet of ground-floor retail space.

The project would replace a car wash and a small commercial building.  Additional details are currently unclear.

Image via Google Maps
Image via Google Maps

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Senior Affordable Housing Opens Near Orange County's Great Park

The two-building development features 157 apartments.

Developers Related California and FivePoint have opened a new affordable housing complex near Irvine's Great Park.  The project, called Luxaira, features 157 residential units catering to low-income seniors.  It is the second senior affordable development to be built in the Great Park neighborhoods by Related, FivePoint, and collaborator RCC Charitage.  To date, more than 500 affordable housing units have been built around the park in four separate projects.