CIM Group has been fairly active across Los Angeles over the last several months, with a number of transactions and developments on the books. The company will soon be adding to its development pipeline, with the recent approval of a 109-unit residential building along Sunset Boulevard.
Located at 6007 Sunset Boulevard, the company is proposing a mix of studio, one-, and two-bedroom apartment options. The project would also set aside 14 residential units for very low income households.
As well as the residential space, the project also proposes 14,657 square feet of ground floor commercial space and 9,834 square feet of open space. 196 vehicle spaces and 148 bicycle parking spaces are also included in project plans.
Designs for the project come from Shubin Donaldson, with renderings revealing a mix of dark and light gray stucco with diamond perforated and corrugated metal elements. The upper residential levels will also feature private glass balconies, while the lower retail levels will feature green glass.
The project site is also served by a train station and various bus stops. The Hollywood/Vine LA Metro Red Line station is within walking distance of the property as well as LADOT’s Hollywood and Beachwood Canyon Dash buses. Nearby Interstate 101 will also provide future tenants easy access to other parts of the Greater Los Angeles area. While near a number of transportation options, the area is also highly walkable and near several music and television studios, including EastWest Studios just south of the property.
The site is currently developed with a surface parking lot and multifamily residential building with 15 vacant units. The property will be demolished to make way for the new development.
The new development represents just a fraction of CIM’s Los Angeles area portfolio. As well as the 109-unit project, the company also recently received approval for its 81-unit Wilshire Mullen project. The project will redevelop a former Farmers Insurance building at 4622-4680 Wilshire Boulevard with 65 condominiums and 16 single-family homes.
Additionally, the company is planning a 364-unit residential building in Los Angeles’ Jefferson Park neighborhood. Located at 2211 S. Western Avenue, the project would reach eight stories and include 70,220 square feet of ground floor retail space and provide 38 units for affordable housing.