The Wilshire Center Koreatown Neighborhood Council Thursday evening will review a 150-unit Wilshire Center project proposed by an affiliate of landlord Jamison for the corner of 6th Street and South Harvard Boulevard.
Plans are for a 100-foot-tall, seven-story mixed-use building to replace an approximately 17,000-square-foot post office building at the site, with the new development qualifying as a Tier-3 project under the city’s Transit Oriented Communities Inventive program. If it is approved as such, the project will be eligible for an up to 70-percent density increase and set aside 15 units, or 10 percent of the total, for extremely low-income households. The project is within about half of a mile of the Normandie/Wilshire subway station and several bus stops, including one for Metro Line 18 across the street.
The Wilshire project also sits within an Opportunity Zone, potentially affording long-term investors in it tax breaks associated with the federal program. A company by the name of 3751 Wesix Qoz Lp, and registered to the address of the development arm of Jamison, recently acquired the project site for $12.5 million, according to a transaction recorded with the county assessor in July.
Other companies involved in the project are project architect Next Architecture and landscape architect SQLA.
Along with its residential units, which consist of three studios, 118 one-bedrooms, and 29 two-bedrooms, project designs call for about 13,000 square feet of ground-floor retail space. The project would also have 189 parking spaces across two subterranean levels and ground level, 122 bicycle spaces, and amenities including a fitness center, lounge, dog park, and 5,016-square-foot roof deck.
On its website, Jamison says it manages a commercial real estate portfolio of 18 million square feet across various property types in Southern California, with a market value of over $3 billion.
