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Friday, Jun 21, 2024

Panorama City to See 33-Unit Apartment Building

A 33-unit apartment complex has been proposed to replace a pair of houses in Panorama City. 

According to the Urbanize.LA report, applicant Mansour Toliyat of Ocean Bay Capital has filed the project with the Los Angeles Department of Planning. Ocean Bay is seeking to raze and replace the single-family homes at 8222 Sepulveda Place with a five-story structure comprised of one-, two- and three-bedroom apartment units above parking for 26 vehicles. Amenities will include a central courtyard and a rooftop deck. 

The applicant has requested entitlements that include Transit Oriented Communities incentives allowing for a larger building otherwise permitted by the zoning because of the nearby bus service on Roscoe and Sepulveda Boulevards. In exchange, Ocean Bay Capital will reserve four apartments as low-income housing over a period of 55 years. 

GA Engineering is listed as the designer of the project. 

Panorama City is also home to the upcoming Corazon del Valle, an affordable and permanent supportive housing complex just west of Van Nuys Boulevard. Located at 14545 Lanark St., the twin-building project will usher in 180 studio, one-, two- and three-bedroom units. Perkins & Will is designing the complex, which is due to be completed in phases in 2023 and 2024. 

Less than a mile north of the Ocean Bay project at Sepulveda and Rayen Street in North Hills, Meta Housing Corp. is finishing its $138-million project Mission Gateway, interconnected five-story structures totaling 356 affordable units. AC Martin is designing the housing. 

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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