T
he Los Angeles City Planning Commission has approved a 163-unit apartment building in Koreatown, rejecting an appeal from the Supporters Alliance for Environmental Responsibility. The Hankey Investment Company, led by billionaire Don Hankey, had proposed the eight-story building at 638-642 South Berendo Street, which would replace a parking lot and include 103 car parking spaces for nearby commercial use. To secure Transit Oriented Communities incentives, Hankey agreed to build 18 affordable apartments for extremely low-income households.

    The appeal argued that the project should face further scrutiny under the California Environmental Quality Act, but a staff report recommended denial of the appeal due to lack of evidence supporting its claims. The building will feature studio and one-bedroom apartments, recreation rooms, a terrace deck, and a courtyard, with an exterior design clad in painted plaster and rows of balconies.

    Hankey Investment Company acquired the site for $14 million last year and plans to employ Transit Oriented Communities incentives to permit a larger building than zoning rules allow. This project is part of Hankey's ongoing development efforts in Koreatown, which include the 25-story Kurve development at Wilshire Boulevard and a 490-unit development near Vermont/Beverly Station.