Approval for 514-550 South Shatto Place & 3119 West 6th Street, Koreatown

The Los Angeles City Planning Commission has approved a new high-rise apartment tower at 514-550 South Shatto Place & 3119 West 6th Street in Koreatown. The project proposal consists of an apartment tower featuring 367 residential units, office space, retail space, and on-site parking. Canadian real estate firms Townline and Forme Development are invested in the project. Gensler is managing the design concept and construction.

514 Shatto Tower View via Gensler

Named Terrace Block, the proposed property is a 41-story apartment tower that will rise next to a 1930s church at 6th Street and Shatto Place. Out of the total 367 residential units, 42 units will be reserved as deed-restricted affordable housing for very low- and extremely low-income households over 55 years. The apartment units are offered as a mix of one-bedroom, two-bedroom, and three-bedroom units. Additionally, 36,000 square feet of office and retail space is located on the ground floor. On-site parking for approximately 470 vehicles is also designed.

The building facade will rise to a height of 483 feet and will feature a glass exterior with series of balconies and perforated metal screens.

Townline and Forme had proposed that 90 of the apartments would serve as Transient Occupancy Residential Structures (TORS), which could be leased for periods of up to 30 days.

Pending approvals by the City of Los Angeles, Townline and Forme expect to break ground on the tower in July 2022. Completion of the project is expected in Fall 2025. The vote by the Commission approved general plan amendment and zone change. However, the Commission voted against granting a conditional use permit for the proposed transient occupancy units. If adopted by the Los Angeles City Council, that recommendation would prevent the developers from including short-stay units.

The property site is situated near the intersection of 6th Street and Shatto Place.

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