|3033 Wilshire Boulevard, by Steinberg Architects (Image: PMA, Inc.)|
Longstanding plans to build a high-rise apartment building in eastern Koreatown have suddenly kicked back into gear.
According to a series of permit applications with the Department of Building and Safety, Colorado-based developer UDR, Inc. is moving forward with an 18-story residential tower at the intersection of Wilshire Boulevard and Virgil Avenue. The 201-foot building, designed by Steinberg Architects, would feature 190 residential units and slightly over 5,500 square feet of ground-level retail space.
Plans call for a wide variety of indoor and outdoor amenities, including a rooftop pool, a fitness center, and bike-storage racks. The mixed-use development would also offer parking accommodations for as many as 302 vehicles, situated within four podium levels.
|Former design by Ankrom Moisan Architects (Image: Portland Architecture)|
The proposed tower dates back to 2005, when the one-acre lot at 3033 Wilshire Boulevard was entitled by Williams & Dame Development. The Portland-based company had planned a similar 18-story building, designed by Ankrom Moisan Architects, only to cancel the project following the onset of the global economic crisis. After entertaining offers for several months, the property was sold in 2008.
Six years later, the eastern section of Koreatown is experiencing renewed interest from a slew of real estate investors. A similar high-rise development recently opened across the street from Wilshire/Vermont Station, just two blocks west of UDR's proposed tower. A half-block north, developer Century West Partners is planning a 399-unit residential-retail complex at the intersection of 6th Street and Virgil Avenue.
An exact development timeline for 3033 Wilshire is currently unknown. However, information gleaned from the website of Project Management Advisors, Inc. indicates that completion is currently scheduled for February 2016.
|3033 Wilshire Boulevard|