Big Upgrade: How a Koreatown Affordable Housing Project Just Doubled in Size
In a city constantly hungry for accessible living spaces, a major development shift on Gramercy Drive is bringing welcome news to Los Angeles renters. What started as a modest mid-rise plan has officially morphed into a full-scale Koreatown affordable housing initiative. Developer Saman Kerendian has overhauled plans for a residential site on South Gramercy Drive, expanding a previously proposed 55-unit market-rate build into a 101-unit complex designated entirely for low- and moderate-income households.
Density Bonuses and Fast-Track Approvals in Action
Located at 708–712 S. Gramercy Drive, the development is currently taking shape after the demolition of two 1920s single-family homes. The upcoming seven-story, podium-style building was designed by architect Sam Ganoy and features a crisp, modern aesthetic.
The project’s drastic size increase was made possible by leveraging the City of Los Angeles’ density bonus incentives and streamlined approval processes for 100% affordable housing developments. By committing the entire property to income-restricted tenants, the developer bypassed traditional zoning constraints to maximize urban residential density.
What the New Gramercy Drive Complex Offers
The updated seven-story complex is tailored specifically for urban singles and small households:
-
Unit Breakdown: 101 total residences comprising studio and one-bedroom layouts.
-
Income Tier: 100% dedicated to moderate- and low-income residents.
-
Parking Facilities: On-site parking accommodates 17 vehicles, reflecting LA’s progressive push toward transit-oriented, low-car developments.
A Pivot Driven by Community Need
Back in 2023, original blueprints called for a standard 55-unit residential building featuring 28 parking spaces and just 6 affordable units. Recognizing the overwhelming demand for accessible rentals in central Los Angeles, the project shifted gears in 2024 to lock in 100% affordable designation—nearly doubling the housing yield on the exact same footprint.
As construction progresses, this Gramercy Drive project stands as a prime example of how LA’s modern housing incentives are reshaping urban neighborhoods to keep city living within reach.
