Looks like yet another Purple Line-adjacent development is on the way to Koreatown. Plans filed with the city yesterday call for the construction of two residential buildings at 3440 West Wilshire Boulevard—just a half-block from the Wilshire/Normandie subway stop.
That address is the site of an office complex called the Central Plaza. Based on the plans, however, it looks like the project is likely destined for the site of the parking structure directly behind the plaza.
The project will bring 641 apartments and 18,454 square feet of commercial space to the area. Plans also call for nearly 2,000 parking spaces, so it seems likely the parking structure currently on the site will be retained or reworked.
At this point, it’s only a slight exaggeration to say that every parcel in the immediate area of this project is being redeveloped. Across the street, a 32-story residential structure is planned; twin 23-story towers were recently proposed just blocks away; and only two blocks from that project, a 36-story tower is planned.
It’s worth noting that each of the above properties belong to Jamison Services, a local landlord with holdings valued at nearly $4 billion. The LoopNet profile for the 3440 Wilshire plaza suggest it is also owned by Jamison. Long known for buying up cheap office properties and holding them for years, the Koreatown-based company appears to be moving quite rapidly into phase two of its operation.