The MacArthur Park Neighborhood Council‘s planning committee Monday evening will review a presentation by Six Peak Development on plans for a 110-unit apartment project just southeast of the intersection of West 8th Street and South Westmoreland Avenue, according to its meeting agenda.
Filed late last year, plans call for an eight-story multifamily development to rise on a now-vacant, 0.62-acre lot at 2857 – 2883 Francis Ave. Multiple demolition permits were issued last year for the site, which had held five structures and multiple units but is now completely vacant, according to application document photographs.
The project would consist of 12 studios, four one-bedrooms, 16 two-bedrooms, 26 three-bedrooms, 25 four-bedrooms, and 27 five-bedrooms above one level of underground parking with 58 automobile spaces, plans show. Units would range from average sizes of 386 square feet for studios to 1,425 square feet for five-bedrooms.
The owner of the project site is listed as Six Peak Capital, a New York-based real estate asset management firm. The property was acquired last year for about $7.75 million, according to Los Angeles County property records.
Plans will be presented to the neighborhood council committee by Six Peak Capital Director of Development Derek Sanders, the meeting agenda shows.
The project applicant is requesting Tier-3 project incentives under the city’s transit-oriented communities program, including an 11-foot height increase to 85 feet.
The architect for the proposed development is listed as LA-based Gruen Associates.
Residents would have access to amenities including a ground-floor courtyard and 10,828-square-foot roof terrace, plans show.
