The Los Angeles Department of City Planning has recently received an application for a 70-unit multifamily affordable housing development by Brown Stone Capital. The application reveals plans for a six-story building that would transform a currently vacant lot situated near the intersection of Crenshaw and Wilshire Boulevards. According to a recent report by Urbanize LA, the envisioned development at 800 S. Lorraine Blvd. has the potential to address housing affordability challenges in the area through the Mayor’s Executive Directive 1.
The project blueprint features 70 studio and one-bedroom apartments, focusing on accommodating low- and moderate-income households. A single manager’s unit is also included in the project plans.
Kevin Tsai Architecture has been tasked with the architectural design of the development. One feature of the project is its eligibility for development incentives and waivers for specific design standards, allowing for a larger building footprint than permitted under conventional zoning rules. The absence of on-site parking also is intended to maximize housing space and affordability and aligns the proposed project with the development incentives outlined in the city’s regulations, adds the report.
The proposed development would be situated within the Windsor Village Historic Preservation Overlay Zone, close to the intersection of Wilshire and Crenshaw. Although the project site falls outside the realm of properties considered as contributing elements to the district, its location and design aim to integrate into the neighborhood. The development would also be located within walking distance to the local public transportation bus routes, with further access to the Metro lines and local amenities along S Western Avenue and Wilshire Boulevard.
The multifamily project is also in close proximity to the former Mid-Wilshire headquarters of Farmers Insurance, where CIM Group is already executing new housing initiatives. The Registry previously reported on CIM’s plans for an 81-unit mixed-use project located at 4622-4680 Wilshire Blvd. The development, known as Wilshire Mullen, is set to comprise 65 condominiums and 16 single-family homes, totaling 81 residential units. CIM Group’s proposal also includes about 62,152 square feet of office space. This will be situated above a one-level subterranean parking garage designed to accommodate up to 234 vehicles.
Initially acquired by CIM Group in 2014, the existing eight-story Farmers Insurance building was purchased for $22.37 million, approximately at a rate of $105 per square foot. Erected in 1937, the building spans a total of 211,508 square feet.
