D
eveloper SHB, led by Stephen Shishikyan, has proposed an 8-story apartment building at 12001 Victory Boulevard in North Hollywood. The project would replace a commercial building currently housing Lilit Bakery Cafe. The new development would feature 298 studio, one- and two-bedroom apartments above 8,300 square feet of ground-floor shops and restaurants, along with a parking garage for 118 cars. The project is part of Mayor Karen Bass's Executive Directive 1, which streamlines approval processes for affordable housing projects. As a 100% affordable development, SHB can use density bonus incentives to exceed zoning rules' floor area and setback requirements. The project, designed by Woodland Hills-based Sam Aslanian Architect, would include multiple courtyards and is expected to be 98 feet tall. The developer on this project is SHB, a limited liability company founded by Shishikyan in 2013, according to state business records. The proposed apartments are located about a quarter-mile north of the 25-acre NoHo West, which was previously a Macy's department store turned into an outdoor mall at 6150 Laurel Canyon Boulevard.