Koreatown site at 3800 W. 6th St. breaks ground on 219-unit market-rate project

A developer has broken ground on a mixed-use project at 3800 W. 6th Street in Koreatown, a large vacant lot where a hotel tower plan fell through about six years ago. Developer Leo Lee, who has been working to redevelop the site for roughly a decade, now plans housing instead.

As described, the building could reach eight stories and include 219 studio, one-, and two-bedroom apartments. The ground floor would hold about 8,748 square feet of commercial space, and a two-level basement garage would provide 173 parking spaces. The project uses density bonus incentives but is planned as entirely market-rate.

Lee met the affordable housing requirement by completing an 80-unit senior affordable complex on an adjacent site on Hobart Boulevard. EWAI is the architect, and renderings show a contemporary podium-style design. Construction is expected to take about 27 months, according to a news release. Grading and shoring permits have been approved, but the full building permit has not been issued.

For builders and lenders, the takeaway is that a stalled hotel concept has become a residential project with its affordable obligation handled off-site. Those tracking timing should watch for issuance of the main building permit.