A new residential project has been proposed for development at 1632-1640 5th Street in Downtown, Santa Monica. The project proposal includes the construction of a large-scale apartment complex offering 500+ apartments. The apartments are planned next to Downtown Santa Monica Station.
AMCAL Multi-Housing Company is the project developer.
The project site is a parcel spanning an area of 1.85 acres, and includes city-owned land at 1632-1640 5th Street and the kiss-and-ride lot as “surplus land,” available to developers. The proposal consists of approximately 570 dwelling units, including more than 140 affordable units. However, the precise amount of housing will depend on the results of a feasibility study which has yet to be conducted. AMCAL eventually won out in that process by agreeing to increase the number of proposed affordable units to 25 percent of the total housing planned, while simultaneously cutting the purchase price for the city properties by nearly 50 percent. Additionally, AMCAL would acquire an adjoining commercial building, often referred to as “The Comma Building” for its shape, from Lincoln Property Company, which could then be folded into the project.
Commercial buildings and a kiss-and-ride lot next door to the E Line’s western terminus are poised for redevelopment with a large apartment complex. A project application has been submitted, and is scheduled for review today. The proposal was first reported by the Santa Monica Daily Press. The estimated construction timeline has not been announced yet.
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