Construction has begun on South Grand Avenue for a planned eight-story, 147-unit micro-unit apartment project in DTLA’s South Park neighborhood, developer Housing Diversity Corporation and investment firm Nitze-Stagen announced this month.
The mixed-income development will take shape at a now-vacant, roughly 9,000-square-foot lot at 1317 S. Grand Avenue and hold 147 studio apartments at an average size of about 328 square feet. Operating as a partnership named O.Z. Navigator, HDC and Nitze-Stagen will reserve 17 units for extremely low-income households, while the remaining 130 units are projected to target households earning between 80 and 100 percent of area median income, plans show.
The project site was acquired by an affiliate of the development team in 2019, and a demolition permit for a one-story commercial building formerly occupying the site was issued the following year. The duo received planning approvals for the proposed project in 2020 as well.
Approvals allow for Tier-4 project incentives under the city’s Transit Oriented Communities Incentive Program, including a 25-percent reduction in required open space to a minimum of 11,361 square feet.
Seattle-based HDC is the developer behind several similar sets of plans elsewhere in LA, including for a 227-unit building at 1411 – 1419 S. Flower Street, just two blocks west of 1317 South Grand Ave.
The development team also announced this month that it secured a $29.1 million loan for construction of its micro-unit project on South Grand Avenue.
Designs for the project are being handled by architecture firm Steinberg Hart, while STS Construction Services is leading construction.
