The Pico Union Neighborhood Council’s land-use committee Tuesday evening will review a joint venture’s plans for a 100-unit project centered on 1025 S. Mariposa Ave., its meeting agenda shows. The project is being led by 1017 Mariposa LP, which state business filings show is registered under a partnership that includes an affiliate of developer Jamison Properties.
Ranging from 1017 to 1031 S. Mariposa Ave., the project site currently holds 12 units in a mix of single-family and multifamily properties that would be demolished to make way for a new six-story residential building. Plans call for roughly 77,000 square feet of new construction with one studio, 79 one-bedrooms, and 20 two-bedrooms.
The applicant is requesting Tier-3 project incentives under the city’s transit-oriented communities program, including an up to 70-percent density bonus. The project would hold 10 units set aside for extremely low-income households, per TOC incentives.
The limited partnership behind the project, which is also registered to Falcon Mariposa QOZ alongside the Jamison affiliate, acquired the project site for about $5.5 million, transactions recorded with the county in 2019 show. The site is located in an Opportunity Zone census tract, potentially offering federal tax breaks to long-term investors in the development.
Amenities that would be involved in the project include a ground-floor fitness area, lounge, and business center spaces, as well as a second-level pool deck.
The project would provide 136 automobile parking spaces and 82 bicycle spaces, with parking accessible via a driveway on Mariposa Avenue.
