New Senior Housing Development Planned for Koreatown
By Chava Gourarie June 24, 2019 3:31 pm
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Domus Development has filed plans for a 75-unit senior housing complex on a three-parcel site in Koreatown, according to Department of City Planning records.
Domus scooped up the three contiguous duplexes at 923 South Kenmore Avenue to 935 South Kenmore Avenue for $6.5 million last month. The seller was an entity affiliated with developer Kenny Hong.
The new six-story building will be 100 percent affordable and offer permanent supportive housing for seniors, with common spaces on the ground floor and parking below, said Domus president Maurice Ramirez.
The previous owners, who purchased the properties for a combined $3.4 million in 2015, had planned to build a 68-unit residential building with a mix of affordable and market-rate housing.
“We were looking for different development opportunities throughout LA county,” Ramirez said. “We were able to negotiate with the former owners who were not going to pursue their development plans.”
The site, which is located within a mile of both the Normandie and Vermont Metro stations, will benefit from the city’s Transit Oriented Community guidelines, which upzone areas near public transportation.
Domus, an affiliate of affordable housing developer Newport Partners, is also behind a 49-unit low income housing development in Panorama City, at 9502 Van Nuys Boulevard. It also released plans for 64 units of permanent supportive housing at 1615 Montana Street in Echo Park.
