A mixed-use residential project has been proposed for Lake Balboa.

The four-story apartment building, which will house 39 one- and two-bedroom units, would rise on a nearly half-acre property at 17630 Sherman Way, east of White Oak Avenue.

The residences, to include five low-income dwellings, would be supported by 5,822 square feet of ground-floor retail and semi-subterranean parking accommodating roughly 70 vehicles.

Construction will call for razing an existing auto repair garage at the address and replacing it with the contemporary low-rise complex, which will also feature a ground-floor recreation room and a pair of outdoor decks in the rear of the complex.

Tarzana-based investor Hany Malek will develop the property, which he purchased earlier this year for $2.6 million.

The project is envisioned by Woodland Hills-based Kamran Tabrizi Architect & Associates, the design studio currently working on a mixed-use residential complex at 13274 Victory Blvd. in Van Nuys and the 432-unit apartment building for Lankershim Boulevard and Strathern Avenue in Sun Valley that was proposed in November.

Lake Balboa has seen a paucity of development in 2020. The only other notable residential project now in the works in the community is Sophie Court, a collection of nine four- and five-bedroom single-family dwellings planned for a parcel a half mile west of Van Nuys Airport.