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<\/a><\/p>\nRendering:\u00a0OFFICEUNTITLED<\/a><\/em><\/p>\n Yet another Koreatown <\/span>development application<\/span><\/a> has been submitted to Los Angeles City Planning. The site in question is 730 South Vermont Avenue, a corner lot that\u2019s currently occupied by Vermont Dental Group and its gated parking lot. ELK Development<\/a> 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.<\/span><\/p>\n 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.<\/p>\n 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.<\/p>\n Rendering:\u00a0OFFICEUNTITLED<\/a><\/em><\/p>\n Architecture and design firm OFFICEUNTITLED<\/a> 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.<\/p>\n The second floor would house a 1,410-square-foot indoor amenity space and an adjacent courtyard that\u2019s 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.<\/p>\n 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.<\/p>\n<\/a><\/p>\n