Markwood Enterprises has a green light to build 84 workforce apartments in South-Central Los Angeles.
The Beverly Hills-based developer was approved by the Los Angeles Planning Department to build the five-story complex at 400 East Adams Boulevard, Urbanize Los Angeles reported. It will replace a corner auto repair shop.
Markwood’s first project in South Los Angeles will include 84 studio and one-bedroom apartments above parking for 42 cars. It paid $3 million for the 20,000-square-foot site in November 2021.
“With so many communities across L.A. having become unaffordable for average workers, this is a key opportunity to address a significant need and bring better housing to middle-income earners like teachers, firefighters and hospital staff – ensuring they can afford to live in the communities where they serve,” Markwood CEO David Wright said.
The developer received Transit Oriented Community incentives allowing a larger project than zoning rules allow in exchange for eight affordable apartments for extremely low-income tenants.
While the remaining apartments won’t be subject to income restrictions, Markwood indicated it would target rents for households earning between 120 percent and 150 percent of area median income.
The white, forest green and putty project, designed by Inglewood-based Aero Collective and led by executive architect AO of Orange, will include four levels of prefabricated modular units above a concrete podium.
Construction will take about a year, according to the developer.
Markwood is now constructing a mixed-use, 51-unit apartment building at Santa Monica Boulevard and Barrington Avenue in Sawtelle, according to Urbanize. It also plans to build a 66-unit apartment complex at Melrose and La Brea Avenues in Fairfax.
— Dana Bartholomew
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