Affordable Housing Proposed for Six-Home Site in Sherman Oaks

HVN Development has applied to the Los Angeles Department of City Planning to redevelop a corner site at 5003 N. Kester Avenue in Sherman Oaks, located just north of the Los Angeles River. The project would replace six existing homes with a five-story building containing 77 one- and two-bedroom apartments.

The apartments would be reserved for rent by low- and moderate-income households, consistent with other HVN projects. The developer is requesting development bonuses through the city's Citywide Housing Incentive Program. No on-site parking is included in the plan.

Stockton Architects, which designs all of HVN's projects, is handling the design. The slim podium-style building would use a facade of painted stucco and stone veneer. HVN is pursuing several projects of similar scale across Los Angeles, including another apartment complex in Sherman Oaks.

For developers and lenders, this filing shows how affordable projects in the city are using incentive programs and parking-free designs on small infill corners.