Development firm Haroni Investments has filed plans for a five-story, 90-unit apartment building in West Adams.
The plans add yet another project to what has become one of L.A.’s hottest neighborhoods for both commercial and residential development. The South L.A. neighborhood has long ranked among Greater L.A.’s most important Black cultural centers, and remains largely Black and Latino. It has one of the highest population densities among L.A. neighborhoods, according to a mapping project by the Los Angeles Times.
https://maps.latimes.com/neighborhoods/neighborhood/west-adams/index.html
In recent years CIM Group, led by Shaul Kuba, has bought up dozens of properties in the neighborhood in one of the largest neighborhood-level development plays in the country, a push that has sparked a fierce gentrification debate.
CIM’s push coincides with the opening of a new Metro rail line through South L.A., which has contributed to a wider development boom. Among a flurry of other pending projects in West Adams, the Australian firm Lendlease is building a 260-unit mixed-use project, the firm Decon is planning a six-story building, and Center Capital is building a 72,000-square-foot office building.
Haroni Investments, which is based in L.A. and led by Amir Ohebsion, has filed for numerous South L.A. projects in recent years, including a 73-unit apartment complex on South Crenshaw Boulevard and a 93-unit building on Hoover Street.
The firm’s latest project is located at 1724 West Adams Boulevard and totals about 73,000 square feet. The project would set aside 10 units for very low-income tenants in exchange for a density bonus.
An entity tied to Ohebsion bought the 0.6-acre site for $4.9 million last March, according to property records.
