L.A. City Council approves CEQA exemption forPico-Union affordable housing
The project, which was filed last year with the Planning Department by Cypress Equity Investments (CEI), would rise from a property located at 1216-1224 S. Menlo Avenue - just northeast of the intersection of Pico Boulevard and Vermont Avenue. The Brentwood-based developer intends to raze two existing structures to make way for a new six-story edifice featuring 128 one-, two-, and three-bedroom apartments, while preserving a 110-year-old house as an amenity space for residents and offices for on-site service providers.
The project is, which was approved in January by the Planning Department, was entitled with Transit Oriented Communities affordable housing incentives permitting increased density and floor area. The incentives also permit apartment complex to be built without on-site parking, although CEI plans a three-car garage as part of the development.