Jamison Properties continues to add to its Koreatown multifamily portfolio.
After converting two commercial office buildings into multifamily communities, Jamison recently completed the company’s first ground-up apartment development in Koreatown.
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Replacing a surface parking lot, Maya is a 72-unit market-rate multifamily community at 535 South Kingsley Drive.
Capitalizing on the area’s growing demand, Jamison officials expect the seven-story Maya to be fully occupied by the end of the year.
The property is a mix of one- and two-bedroom units, ranging from 580 to 1,265 SF. KFA Architects designed the building. Wilshire Construction served as the general contractor.
“Koreatown is one of the most densely populated neighborhoods in Los Angeles, and the inventory of multifamily product in Koreatown has not kept up with the demand,” Jamison Properties’ Garrett Lee said in a news release.
“We see that continuing for the foreseeable future, especially as vibrant urban environments such as Koreatown and Downtown Los Angeles become the place of choice for young professionals,” he said.
This is Jamison’s third multifamily project in Koreatown in the past four years. In 2013, the company converted a 12-story office building at 3075 Wilshire Blvd. into the 127-unit Westmore. In 2016, Jamison converted a 1927 office building into the 110-unit The Abbey at 3550 West Sixth St.
Both projects were fully leased four months after opening, Jamison officials said.
Jamison has four more multifamily developments in the pipeline, including a 648-unit luxury apartment complex across from LA Live in downtown.
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