Seven-Story, 89-Unit Condo To Rise In Koreatown

Rendering of Fred & Jamison's proposed seven story, 89-unit condo development in Koreatown in Los Angeles.
Photo credit: Courtesy of Los Angeles City Planning Department
Fred & Jamison's Proposed Seven-Story, 89-Unit Condo Development

The Los Angeles City Planning Commission has approved a seven-story, 89-unit condominium development in Koreatown despite an objection from the Los Angeles Neighborhood Land Trust.

The commission in December voted 5-1 in favor of developer Fred & Jamison LLC’s proposed development at 500 South Oxford Ave. in Los Angeles. The site is a collection of four parcels totaling 35,658 SF on the southeast corner of Oxford Avenue and Fifth Street.

According to staff documents, the building would feature two- and three-bedroom units with a balcony, an open-air courtyard, a gymnasium, a swimming pool, a jacuzzi and a a dog run with artificial turf.

The Los Angeles Neighborhood Land Trust, a nonprofit that advocates for park space in the city, appealed the project, arguing that the developer should have set aside some green space.

The commission followed city staff’s recommendation that the development is “located in an area where 72 public parks are within a five-mile radius of the project site." The developer is also working with the local council district to provide funding for a park less than half a mile away, city staff reported.

Additionally, the developer has agreed to pay an in-lieu fee to the city for the lack of park space in its development.

The Los Angeles City Council will vote on the project in the coming months.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Los Angeles Newsletters
Related Stories

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Bringing Stability And Savings To CRE Insurance Through Working Layer

Developers Riding The Surf Park Wave With Resorts, Retail And Residences

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

Miami's Condo Craze Has Developers Spending Millions On Sales Galleries

Slate, Hudson Cos. Picked To Develop Massive Queens Housing Project

Ryan Cos. Secures Permit For Austin's Sixth Street Redevelopment

Rapper Rick Ross Joins 670-Unit Miami Gardens Condo Project

Immigration Crackdowns Dealt LA Businesses A Multimillion‑Dollar Blow

How A New Financing Model Helps Spur More Mixed-Income Housing