Development Promises 106 Apartments for Studio City

The Crescent, a proposed development that would put 106 residential apartments at the intersection of Ventura Boulevard and Arch Drive in Studio City, has gone before Studio City Neighborhood Council’s Land Use Committee. Project applicant Mike Drandell, chief executive of Culver City-based developer Goldrich Kest, has proposed replacing a vacant senior living facility with multifamily units to include 12 low-income affordable apartments above 1,200 square feet of ground-floor retail storefronts. The plan represents a revision of Goldrich Kest’s original quest to entitle the project as a six-story building with 72 market-rate apartments and nine low-income units above ground-floor retail.