Six-story housing development planned for edge of Koreatown

A vacant lot at the eastern edge of Koreatown may not stay vacant for long. On Thursday, a developer filed plans with the city to construct a six-story building on the site with 193 units of housing.

The project would rise at 2482 James M. Wood Boulevard, where permit records show that a 15-unit apartment building was recently demolished, clearing the space for new development.

It’s not clear whether the development would be an apartment or condo project, but the developer plans to set aside 20 units of affordable housing. That would allow the project to take advantage of new city incentives that reward developers for building affordable units near transit stops.

The project would be located just a half-block from the busy 204 bus line and under a mile from the Wilshire/Vermont subway station.

As The Real Deal reports, several developments have been proposed at the project site in the past, but so far none have gotten off the ground.