Yet another Koreatown development application has been submitted to Los Angeles City Planning. The site in question is 730 South Vermont Avenue, a corner lot that’s currently occupied by Vermont Dental Group and its gated parking lot. ELK Development is proposing to raze the existing structure and replace it with a seven-story building featuring 80 apartments and 1,457 square feet of retail space.
The development company specializes in furnished micro-units with flexible lease agreements. CEO Evan Kasper previously co-founded the Medici Living Group, the largest provider of co-living spaces in Europe, which has since expanded into the US market.
Plans for 730 South Vermont Avenue call for 40 studios, six three-bedroom units, 18 four-bedroom units and 16 five-bedroom units. There would be eight affordable housing units reserved for extremely low-income tenants in exchange for Tier 3 Transit Oriented Communities (TOC) incentives such as reduced setback and open space requirements.
Architecture and design firm OFFICEUNTITLED conceived of the white and dark gray stucco exterior, accented with decorative metal panels and glass balcony guardrails. The ground floor would feature a lobby, bicycle parking and repair room, and a restaurant/retail space that hugs the corner of Vermont and Leeward Avenue.
The second floor would house a 1,410-square-foot indoor amenity space and an adjacent courtyard that’s open to above with built-in wooden benches and a water feature covered in living plants. On the seventh floor, there would be another outdoor common area with a TV, dining table, green wall, bar and lounge seating.
Residents would be able to ascend the stairs or elevator to access the expansive roof deck, complete with a synthetic grass lawn, foosball tables, an outdoor TV, hammocks, lounge furniture, dining tables and planters. Meyer lemon trees would add a pop of color to this urban oasis.
730 South Vermont Avenue would provide 70 vehicle parking spaces spread throughout at-grade and subterranean parking levels. A semi-automated puzzle lift automated parking system would also be employed to maximize space.
The proposed mixed-use development would be a five-minute walk from the Wilshire/Vermont subway station that serves both the red and purple lines. Beloved neighborhood attractions include Wi Spa, Hotel Normandie LA and Chapman Plaza. Plus, there are dozens of mouthwatering Korean restaurants nearby including Kobawoo House, Dwit Gol Mok, Seong Buk Dong and Sun Nong Dan.