A parking lot along the Venice Beach Boardwalk is slated for transformation into a mixed-use residential development.
An affiliate with Mission Investors Corporation of Ventura submitted an application to the Los Angeles Department of City Planning for a new four-story building at 601 South Ocean Front Walk, Urbanize Los Angeles reported.
The entity, which owns the site, is looking to build 30 studio and two-bedroom apartments with 9,000 square feet of ground-floor commercial space and parking for 46 vehicles. The developer is looking to secure approvals for density bonus incentives, which would allow the construction of a larger building that zoning rules would otherwise prohibit. In exchange for the incentives, Mission Investors would designate five of the apartments as affordable housing for rent at the low-income level.
Because of the site’s sandy location on the beachfront, any redevelopment will also require authorization from the California Coastal Commission, according to Urbanize. In February, California Assembly Member Rick Chavez Zbur, who represents a district stretching from Santa Monica to Griffith Park, introduced AB 1740, which would allow some coastal cities to bypass Coastal Commission approval for many housing and transportation projects. The City of Santa Monica supports the measure, though Venice is part of the City of Los Angeles.
Mission Investors’ plans are the latest to call for mixed-use development in Venice. Last month, the Los Angeles City Planning Commission signed off on a proposal for a mixed-use development at 1410-1422 Main Street, which would replace two neighboring single-family homes. The project comes from Three on the Tree LLC, managed by local developer Jason Teague and investor Brittany DeBeikes. Once complete, it will be a five-story building with 20 studio, one-, and two-bedroom apartments as well as more than 3,600 square feet of ground-floor restaurant space and parking for 28 vehicles. Like Mission Investors’ plan, the Main Street project is receiving density bonus incentives in exchange for some affordable units.
— Chris Malone Méndez
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