Thursday, February 27, 2014

Apartments Heading Toward Lafayette Park

2867 Sunset Place

Resurgent Koreatown continues on its upward trajectory, with a new residential development planned one block south of Wilshire Boulevard.  A surface parking lot at 2867 Sunset Place, just a short walk from Lafayette Park, is set to make way for a new 60-unit apartment building.  Located three blocks east of Wilshire/Vermont Station, the development would include parking accommodations for 77 vehicles.  This section of the neighborhood is currently in the midst of mini-development boom, with the signs of adaptive re-use projects and ground up construction apparent throughout the neighborhood.  The J.H. Snyder Company is currently wrapping up construction on the $200 million Vermont Towers, which will open its 464 apartments later this year.  Jamison Services, one of Los Angeles' largest commercial landlords, recently converted the mid-rise office building at 3075 Wilshire into 123 apartments.  Midway between Lafayette and McArthur Parks, the New York-based Somerset Group plans for 154 luxury condominiums at the northeast corner of Wilshire Boulevard and Coronado Street.  An 18-story high-rise was also planned at the northwest corner of Wilshire and Virgil Avenue, although the future of that project remains unclear at this point.

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