Koreatown WELCOME HOME

Koreatown’s largest land owner continues to look towards redevelopment for some of its underutilized properties. Yesterday, Jamison Services, Inc. filed plans with the City of Los Angeles to redevelop the parking garage at the back of 3470 Wilshire Boulevard, a mid-century office complex. The project site, which fronts 7th Street and Mariposa Avenue, would be redeveloped with two mixed-use buildings featuring 641 apartments, 18,454 square feet of ground-floor retail space and 1,910 vehicle parking spaces.

A one-story retail complex in south Koreatown could make way for a multifamily residential development. Yesterday, plans were submitted to the City of Los Angeles for a residential-retail complex at 3170 W. Olympic Boulevard. The subject property, which spans approximately .59 acres, would yield a 252 residential units above 33,280 square feet of ground-floor retail space and underground parking. A total of 40 apartments would be set aside for very low income households.

Jamison Services, one of Southern California’s largest office landlords, recently filed plans with the City of Los Angeles to convert two of its numerous Wilshire Boulevard office buildings for residential use. The first of these properties is a 13-story tower located near MacArthur Park. A case filing from the Los Angeles Department of City Planning indicates that the renovated building at 2500 Wilshire Boulevard would contain 248 residential units, in lieu of its current 230,000 square feet of office space.

Koreatown’s IB Plaza, a shopping center at 8th Street and Western Avenue, may not be long for this world. Property owner Western Plaza Capital Holding, LLC has filed plans with the City of Los Angeles to redevelop the underlying property at 800 S. Western Avenue as a mixed-use complex. The replacement project would consist of 96 dwelling units, 148 hotel rooms and approximatley 58,000 square feet of ground-floor retail space. The proposed development is contigent on several discretionary approvals by the City, including a general plan amendment.

Recent years have seen a slew of surface parking lots in Koreatown give way for mixed-use developments. Now investors are coming for parking structures. Yesterday, plans were filed with the City of Los Angeles to construct a 132-unit apartment complex at 635 S. Western Avenue. The proposed development would add five floors atop the four-level Wilshire Center Financial Garage, creating a nine-story building. City records indicate that the project would preserve an existing 900-square-foot retail stall.

Local real estate firm Jamison Services is continuing its multifamily residential building spree, with yet another mixed-use development planned in Koreatown. Yesterday, the company filed plans with the City of Los Angeles to construct two high-rise buildings adjacent to the Wilshire Financial Tower, an early 1960s office complex at 3600 Wilshire Boulevard. The proposed development would start with the demolition of the building’s parking garage, followed by the construction of two 23-story towers featuring a combined 760 dwelling units above roughly 6,400 square feet of street-level commercial space.

Local real estate firm Jamison Services Inc. has unveiled a rendering for the 4+N Lofts, an upcoming multifamily residential complex in Koreatown. The proposed development, planned for a roughly one-acre property at at 411 S. Normandie Avenue, would consist of a seven-story structure featuring 224 apartments, as well as amenities such as a pool deck, a club room a gym and a courtyard. Plans also call for a 373-car parking garage to be located beneath the building.

A rendering has emerged for 700 Manhattan, an upcoming residential-retail complex from Jamison Services Inc. Located one block south of Metro’s Wilshire/Western Station, the project would consist of a seven-story building containing 160 residential units above 10,300 square feet of ground-floor commercial space. Plans also call for approximately 17,000 square feet of amenities, including multiple lounge areas, a pool deck, a dog run and outdoor screening areas. The project, designed by GMP Architects, is portrayed as a contemporary podium-style development.

Aerial images supplied by architectural photographer Hunter Kerhart show completion nearing for developer UDR, Inc.’s $107-million Koreatown tower. The 18-story development, located at 3033 Wilshire Boulevard, features 190 apartments atop 5,500 square feet of retail space and a parking garage. The project offers a mixture of studio, one- and two-bedroom units, with amenities such as a fitness center, a rooftop garden, a swimming pool and a spa. According to the website of Steinberg Architects, the 201-foot tall building is defined by a series of protruding decks that give its facade a fluid experience.

Over the past several years, a series of commercial developments have reactivated a series of parking lots along Koreatown’s stretch of Wilshire Boulevard. A local investor is now looking to spread that momentum south. Yesterday, plans were filed with the City of Los Angeles to construct a residential-retail complex 1054 S. Vermont Avenue. The project - which is being developed by 1054 Vermont, LLC - would consist of a seven-story structure featuring 228 condominiums, approximatley 53,000 square feet of retail space and a subterranean parking garage for 563 vehicles.