California Landmark Group, a West Los Angeles-based multifamily development firm, continued its push into the Eastside Los Angeles with a proposal to build a residential complex on the west edge of Silver Lake.
The firm filed plans for a 100-unit building that spans over 87,500 square foot at 1201 N. Myra Avenue, according to documents filed with the Department of City Planning. Five out of the six floors will be dedicated for the apartments, while the remaining ground level floor is used for 50 vehicle parking spaces and 105 bicycle spots.
In exchange for building less than half a mile from the Vermont/Sunset Metro station, CLG is seeking Transit Oriented Communities incentives for the site. It is seeking to reduce the required open space by 25 percent, as well as a 30 percent decrease in the yard setback. The developer also wants to increase the height of the building from 45 feet to 67 feet.
CLG purchased the three adjacent properties on the block in April for $3.38 million, property records show.
The project would require demolishing three single-family homes that currently sit on the site. CLG filed demolition requests in May; they have yet to be granted.
A representative from CLG declined to comment.
The Silver Lake proposal is the latest foray into the Eastside by CLG, which began a push into the area in March 2016 when it purchased apartment buildings in Highland Park and Eagle Rock. Its other residential projects are based mostly on the Westside, in neighborhoods like Marina del Rey, Sawtelle and Brentwood.
Many other developers have been flocking to Silver Lake recently. Last month, an unspecified developer filed for a 33-unit project with four units set aside for very low-income renters at 1032 N. Coronado Street. Meanwhile, Timberlane Partners and Frost/Chaddock are planning hotels in the neighborhood.
