Beverly Hills-based real estate investment company Black Equities Group has plans for an eight-story, 68-unit multifamily building at the southernmost edges of the Beverly Grove area, according to a planning case posted by the city of Los Angeles this month.
Named The Stanley, the apartment community would take shape at 6435 Wilshire Blvd., replacing a five-story office building previously occupied by Los Angeles ORT College. The two-parcel project site was acquired by an affiliate of Black Equities in 2019 for about $10 million, according to Los Angeles County property records.
Plans call for a 90-foot-tall building totaling about 65,000 square feet of new construction. It would contain 11 studio apartments, 46 one-bedrooms, 10 two-bedrooms, and one three-bedroom, along with 87 parking spaces across two below-grade and two above-grade parking levels.
Working with project representative Dana Sayles of planning consulting company three6ixty, Black Equities Group is seeking Tier-3 project incentives through the city’s Transit Oriented Communities Incentive Program, including a roughly 20-percent reduction in required open space to about 5,750 square feet.
In accordance with the TOC program, the project would provide seven apartments at rents below market rate, plans show.
The Stanley would include amenities such as a dog run, fitness center, pool deck, lounge, and roof deck, and it would also provide space for 60 bicycles.
Designs for The Stanley are being led by Long Beach-based architecture firm Studio One Eleven.
