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Continental Partners has announced $8.4 million in construction financing for a multifamily residential development in Westlake.

The proposed development, slated for two parcels at 218-224 S. Occidental Boulevard, calls for the construction of a six-story, 47-unit apartment complex with underground parking.  The project site is currently improved with two 1940s residential buildings, totaling 16 units.  Both would be demolished to allow construction to proceed.

A timeline for the development has not been announced.

The new apartments would be located a short distance north of Lafayette Recreation Center, where a slew of mixed-use developments are currently planned or underway.  Most notably, a 31-story apartment tower could rise directly across the street from the park.

Image via Continental Partners
Image via Google Maps

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Five-Story, 37-Unit Development Rises on Santa Monica Boulevard

Multifamily residential development located on the outskirts of Westwood and Century City.
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A new multifamily residential development is now rising on the outskirts of Westwood and Century City.  The project, located at 10534 W. Santa Monica Boulevard, consists of a five-story building that will feature 37 apartments - including three very-low-income units - above three levels of basement parking for 45 vehicles.