(Read more on the multifamily market.)
LOS ANGELES-A development group called Bethany Square LLC has unveiled plans for a $100 million mixed-use project that would aim to revitalize a four-acre parcel in the heart of the Bethany Square area. The project, which will seek LEED certification, is in an area that gained notoriety as the center of the 1992 riots in South Central Los Angeles.
The development, which is slated to get under way in early 2008, would bring work force housing,retail, seniors housing, child care and business incubators to the blighted neighborhood, according to Scott A. Chaplan, the managing principal of Bethany Square LLC. The site where the project is scheduled to be developed is spread over 21 lots located on Hoover Street between Manchester Avenueand 83rd Street.
The project, to be designed by Michael Holliday and Larry Scarpa of Pugh & Scarpa, will include the redevelopment of a dilapidated office building, a shuttered chapel and a main sanctuary. The office building will be converted into a new mixed-use building with office, 100 units of low-income seniors housing and a child care facility.
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