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Jamison Eliminates Hotel Portion of Koreatown Strip Mall Project

The Real Deal
08/21/18

Jamison Eliminates Hotel Portion of Koreatown Strip Mall Project
By Natalie Hoberman

https://therealdeal.com/la/2018/08/21/jamison-eliminates-hotel-portion-of-koreatown-strip-mall-project/

 

Koreatown’s most prominent landlord, Jamison, has revised its plans for one of its many multifamily projects in the neighborhood.

The firm, acting through an LLC, has removed the hotel portion of its mixed-use project at Eighth Street and Western Avenue, according to new permit documents published with the Department of City Planning Monday.

Located at 800 S. Western Avenue, the project would include 230 apartment units within a new eight-story building. There would also be about 12,000 square feet of commercial space.

Originally, Jamison had planned to build a 229,000-square-foot adaptive reuse project with a hotel, apartments and retail. The developer had already secured permits to build a 12-story structure with 96 apartments, 148 guest rooms and 58,000 square feet of commercial space, according to a filing published in April.

In both cases, the project calls for the demolition of a parking lot and two-story strip mall. IB Plaza, located at 808 S. Western Avenue, would remain intact.

Renderings by TCA Architects revealed a remodeled mid-rise development that incorporated the Art Deco style currently found at the site.

A representative for Jamison did not respond to requests for comment.

Although unconfirmed, it’s possible Jamison saw more of a need for housing than hotel rooms. In Los Angeles County, the number of hotel rooms rose 25 percent in the first half of the year, according to a survey by Atlas Hospitality Group. There are currently 37 hotels with 5,630 rooms under construction.

Jamison, a family-run development firm, has several other projects in the pipeline. Last month, the firm filed plans for a 227-unit apartment complex in the neighborhood, slated to go up on the site of an existing parking lot on St. Andrews Place. The firm is also converting a few of its office projects into residential buildings, including the World Trade Center in Downtown Los Angeles and another 17-story office tower on Wilshire Boulevard.

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