|Image Credit: Astani Enterprises|
The resurgent Westlake neighborhood is about to get another influx of market rate units, this time courtesy of Sonny Astani. As reported by the Downtown News, the Beverly Hills-based developer plans to start construction later this year on Valencia, a mixed-use development to be located at 1501 Wilshire Boulevard. Designed by Santa Monica-based Killefer Flammang Architects, the six-story building will contain 218 apartment units, 18 of which shall be reserved for low income households. The project will also feature 4,400 square feet of street level retail and a 253-car garage. Valencia utilized the city's bicycle parking ordinance to receive a 10% reduction in the required number of vehicle parking spaces. The $60 million development will require the demolition of several low-rise commercial structures that currently occupy the 1.5 acre parcel at Wilshire and Valencia Avenue.
Astani's project arrives as the long neglected Westlake neighborhood is witnessing a revival of construction activity at all ends of the specturm. One block east of Valencia, Good Samaritan Hospital is currently in the midst of an $80 million expansion project. North of the hospital, Holland Partners intends to break ground this year on a 648-unit development at the corner of Bixel Street and Lucas Avenue. The Seattle-based company also completed a 210-unit building at 1111 Wilshire Boulevard in early 2013. Further west, Metro and developer McCormack Baron Salazar are planning the second phase of an affordable housing project on the land above Westlake/MacArthur Park Station.
|1501 Wilshire Boulevard|
- 1501 Wilshire (Astani Enterprises)
- Developer Astani Plans Mixed-Use Project Near Downtown L.A. (Los Angeles Times)