Wiseman Residential filed plans to build a 74-unit apartment complex on a vacant lot at the corner of Western and Fountain avenues, Urbanize reported.
Seven units at the 11-story project at 1276 N. Western Avenue will be set aside for low-income residents, and the project will include a two-level underground parking lot. Renderings by Glendale-based Uriu & Associates portray the multifamily development with balconies and surrounded by trees.
Wiseman purchased the nearly 22,000 square-foot lot in May 2016 for $4 million, property records show.
The company owns 23 apartment complexes around Los Angeles, including the neighboring multifamily property at 928 Western Avenue, according to the company’s website.
Their latest project in East Hollywood marks a recent development boom in the area, characterized by CIM Group’s plan for a large mixed-use project at 5601 Santa Monica Boulevard. [Urbanize] – Natalie Hoberman