Brick+Work

Wilshire Center-Koreatown C2/CR/R1 Lot Assemblage, 114 Potential Units with TOC Tier 3

Los Angeles

Wilshire Center-Koreatown C2/CR/R1 Lot Assemblage, 114 Potential Units with TOC Tier 3

APN: 550-300-8016

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C2-1; CR-1; R1-1
Zone/District
72 in C2 zone; 41 in CR zone; 1 in R1 zone
Max Unit
28,299 sq. ft.
Lot Size
Tier 3
TOC
1
Lots
Existing Conditions
Floor Area 40,816 sq. ft.
Units 0
Year Constructed 1925-1956
Assessed Improvement Value $1,093,645
Assessed Land Value $5,412,160
Development Potential (By-Right)
Maximum FAR 1.5:1 for CR & C2 zones; 1:1 for R1 zone;
Maximum Height
Feet

75 ft. for CR zone; none for C2 ; 33ft. for R1 Zone

R1 zone subject to encroachment plane (see LAMC 12.21.1 for additional information)

Stories

6 stories for CR zone; none for C2 zone & R1 zones

Minimum Setbacks
Front

10 ft. for CR zone; none for C2 zone; 20 ft. for R1 zone

no setbacks for C2 zone if residential uses at lowest story

Side

3 ft. for CR zone; 5ft. for C2 & R1 zones

no setbacks for C2 zone if residential uses at lowest story; add 1 ft. of side setback for each story over 2, not to exceed 16 ft in C2 zone

Back

15 ft. for C2, CR & R1 zones

add 1 foot of back setback for each story over 3 for R1 zone; add 1 foot of back setback for each story over 3; 20 ft. max for C2 zone

Max Buildable Area, Footprint 21,268 sq. ft. (9,911 sq. ft. for C2 zone; 6,264 sq. ft. for CR zone; 5,093 sq. ft. for R1 zone)
Max Buildable Area, Envelope 31,170 sq. ft. (16,681 sq. ft. for C2 zone; 9,396 sq. ft. for CR zone; 5,093 sq. ft. for R1 zone)
Max Dwelling Units 41 in C2 zone; 23 in CR zone; 1 in R1 zone
Affordable Units Required None
Parking Required 1 space per unit with less than 3 habitable rooms 1.5 spaces per unit with 3 habitable rooms 2 spaces per unit with more than 3 habitable rooms 1 space per guest room (first 30) 2 on site spaces for R1 zone
Required Bicycle Parking
Long Term 1 space per unit for units 0-25; 1 spaces per 1.5 units for units 26-100; 1 spaces per 2 units for units 101-200; 1 spaces per 4 units for units 201+
Short Term 1 space per 10 units for units 0-25; 1 spaces per 15 unit for units 26-100; 1 spaces per 20 units for units 101-200; 1 spaces per 40 unit for units 201+
Transitional Height Limitations None required
Required Open Space 100 sq ft per unit with less than 3 habitable rooms 125 sq ft per unit with 3 habitable rooms 175 sq ft per unit with more than 3 habitable rooms
Other Development Notes
Development Potential (with TOC or DB)
Maximum FAR 3.75:1 for CR & C2 zones; 2.75:1 for R1 zone
Maximum Height
Feet

97 ft. for CR zone (+22 ft. from bonus incentive); none for C2 ; 44ft. for R1 Zone (+11 ft. from bonus incentive)

Projects located in a zone where the maximum height is 45 ft. or less, or located within a Specific Plan that limits height, height increases over 11 ft. must be stepped-back at least 15 ft. from the exterior face of the ground floor building located at any street frontage.

Stories

8 stories for CR zone; none for C2 zone & R1 zones

Minimum Setbacks
Front

10 ft. for CR zone; none for C2 zone; 20 ft. for R1 zone

Eligible for decrease through incentives; no setbacks for C2 zone if residential uses at lowest story;

Side

2.1 ft. for CR zone; 3.5 ft. for C2 & R1 zones

no setbacks for C2 zone if residential uses at lowest story; add 1 ft. of side setback for each story over 2, not to exceed 16 ft in C2 zone

Back

10.5 ft. for C2, CR & R1 zones

add 1 foot of back setback for each story over 3 for R1 zone; add 1 foot of back setback for each story over 3; 20 ft. max for C2 zone

Max Buildable Area, Footprint 22,810 sq. ft. (10,221 sq. ft. for C2 zone; 6,790 sq. ft. for CR zone; 5,799 sq. ft. for R1 zone)
Max Buildable Area, Envelope 83,112 sq. ft. (41,703 sq. ft. for C2 zone; 25,462 sq. ft. for CR zone; 15,947 sq. ft. for R1 zone)
Max Dwelling Units 72 in C2 zone; 41 in CR zone; 1 in R1 zone
Affordable Units Required at least 10% for Extremely Low Income, or 14% for Very Low Income, or 23% for Low Income
Parking Required Shall not exceed .5 space per unit
Required Bicycle Parking
Long Term 1 space per unit for units 0-25; 1 spaces per 1.5 units for units 26-100; 1 spaces per 2 units for units 101-200; 1 spaces per 4 units for units 201+
Short Term 1 space per 10 units for units 0-25; 1 spaces per 15 unit for units 26-100; 1 spaces per 20 units for units 101-200; 1 spaces per 40 unit for units 201+
Transitional Height Limitations None required
Required Open Space Up to 25% decrease in required open space
Other Development Notes
Jurisdictional
Legal Description Lots 35, 37-38, Norwood Terrace Tract
Land Use Regional Center Commercial
Area Planning Commission Central
Community Plan Area Wilshire
Neighborhood Council Wilshire Center-Koreatown
Council District 10
Councilmember Mark Ridley-Thomas
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Particulars By-Right TOC or DB
Total Buildable
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Average Construction Cost
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Total Soft Costs
Total Development Budget
Gross Annual Rents
Expenses (25%)
NOI
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Equity After Completion
Equity Multiple
IRR

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