A developer has filed plans to replace a triplex near the intersection of West Pico Boulevard and South Fairfax Avenue with a new five-story, 16-unit apartment project, according to a planning case posted this week by the city of Los Angeles.
The proposed multifamily project would take shape at 1450 S. Orange Grove Ave. and is being led by an entity managed by Philip Cohen, CEO of real estate capital advisory firm Mansfield Equities, plans show. The existing property was acquired by the Cohen-led entity, which also involves Yoav Atzmon, in 2018 for about $1.3 million, according to county property records.
Designs for the Picfair Village development are being led by The Ketter Group.
The development team is seeking Tier-3 project incentives under the city’s Transit Oriented Communities Incentive Program, including a seven-unit, or 70-percent, density bonus and a 19-foot height increase to the planned maximum height of 52 feet. Three apartments would be reserved for extremely low-income households, per the TOC program, plans show.
The community would contain six one-bedroom apartments, six two-bedrooms, and four three-bedrooms, with ones ranging in size from 552 to 572 square feet, twos from 661 to 824 square feet, and threes from 928 to 948 square feet.
Plans also call for about 2,250 square feet of common open space, including a 1,376-square-foot roof deck.
The project would provide 14 automobile parking spaces and 18 bicycle spaces.
Also involved in the proposed project is landscape architect Courtland Studio, according to planning documents.
