A new residential project has been proposed for development at 150 West Colorado Avenue in Monrovia. The project proposal includes the construction of nearly 300 homes within multiple six-story buildings. The project will replace two existing apartment buildings, built in the 1970s that contained 156 homes.
Culver City-based Goldrich Kest is the project developer.
The scope of work includes the construction of a new large-scale residential complex offering 296 residences. Named Oak Park, the residences will be developed as a mix of one-bedroom, two-bedroom, and three-bedroom floor plans. Plans also call for a new public parklet along Primrose Avenue.
The developer is seeking approval using density bonus incentives to permit the construction of a larger apartment complex than would normally be allowed on the site. Additionally, the existing complex features 54 units restricted to senior citizen households by covenant, as well as 96 units currently occupied by below-market-rate households, which fall into a protected category for relocation under SB 330.
All buildings within the complex will feature exteriors expressed in painted plaster, wood, and brick. Facade designs feature upper-level setbacks that match the scale of nearby structures.
As of now, construction is expected to occur within 32 months, beginning in January 2025 and concluding in August 2027.
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