Apartment Development Proposed in Northeast K-Town

Jam packed Koreatown is about to become a little bit more dense, with a new residential project slated for a property located just south of 1st Street.  According to plans recently filed with the city, a five-story, 40-unit condominium development is proposed for the parcel at 111 South Mariposa Avenue.  The project's LADCP case filing indicates that the building would provide future residents with 90 parking spaces, supplemented by a whopping total of five bicycle parking stalls.  111 Mariposa's previous owner had commissioned K-Town's Corbel Architects to draft a conceptual design for the site.  However, those hypothetical plans called for a slightly larger project, consisting of 51 residential units.  At this time, the project site is developed with a two-story building, currently occupied by the Myung Sung Presbyterian Church.  The existing structure, which was constructed in 1917, would likely be demolished to make way for the condominium development.

Jamison Services Bringing Apartments to K-Town Parking Lot

626 S. St. Andrews Place; Image from Corbel Architects.

Koreatown has seen a boom in residential construction during the past calendar year, and that trend looks to continue on a parking lot just north of Wilshire Boulevard.  Jamison Services Incorporated, one of Koreatown's largest commercial landlords, has plans to build an 84-unit apartment building next to the Wilshire Professional Building.  The project at 626 St. Andrews Place will stand six-stories, with design work from Corbel Architects.  Despite the nearby Wilshire/Western subway station, 626 St. Andrews will include 203 parking spaces in a three level garage.

According to Businessweek, vacancy rates at Jamison Services' office properties have tripled over the past four years to an average of 25%.  Unfavorable economic conditions may have reduced demand for office space in Los Angeles, but they have also fueled a resurgence in the market for multi-family residential buildings.  Thus, Jamison Services is in the process of converting five of their office properties into apartments.  They have also started venturing into ground up construction, meaning that 626 St. Andrews Place may just be the first new building that the company has planned.

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