Project Would Be First To Be Built in This Part of West Hollywood, California
A roughly 115-unit apartment project has been proposed in a popular area of West Hollywood, California, a desirable city on Los Angeles County's Westside. (City of West Hollywood)
By Jack Witthaus
CoStar News
June 26, 2023 | 11:30 AM
An area in the city of West Hollywood, California, that's known for its shopping and nightlife, may soon be welcoming new neighbors for the first time in decades.
Beverly Hills-based developer Massachi Industries is looking to secure approvals to build a 115-unit apartment complex at 8025 Santa Monica Blvd., according to plans filed with the city of West Hollywood. The project, which would result in the demolition of a 4,200-square-foot retail space, would also include 16 affordable units.
Alex Massachi, chairman and CEO of Massachi Industries, said the project needs approval from the city's planning commission.
“This project advances our goal of leveraging underutilized commercial spaces along prime thoroughfares to address the acute housing crisis, without causing tenant displacement and maintaining easy access to popular landmarks,” Massachi said in a statement.
The multifamily project is the latest in a wave of retail-to-apartment conversion developments across greater Los Angeles as the region attempts to build more housing during a worsening residential affordability crisis.
Stagnant Construction
Despite its international acclaim, the city of West Hollywood hasn't seen any construction that's the size of Massachi's project west of Fairfax Avenue since 1985, according to CoStar data.
The project would feature micro-units along with one and two-bedroom units, according to the plans. The development also would feature a pool and common outdoor space.
An entity related to Massachi's firm bought the roughly 0.5-acre site earlier last year for $13.6 million, according to CoStar data. The company also wants to build a 128-unit project in Hollywood starting in 2024.
The West Hollywood apartment market has a 4.3% vacancy rate, below the greater L.A. average of 4.7%, according to CoStar data. The market's average monthly rent is $2,810, well above the greater L.A. average of $2,223.
A Massachi representative didn't respond to a request to comment from CoStar News.