Dr. Peyman Banooni plans to construct a five-story apartment complex with 18 one-bedroom apartments and medical offices using density bonus incentives to provide affordable housing for very-low income households.
The project, to be designed by Aaron Brumer & Associates, includes enhanced windows on the bottom floors and balconies on the top three floors.
The Beverly Grove area near Cedars-Sinai Medical Center is experiencing significant residential development, with plans for new apartment buildings and even a new patient tower by Cedars.
The L.A. medical office market has a relatively low vacancy rate of 10.8 percent, as reported by CBRE, making it an attractive option for real estate development.
#real-estate-development #cedars-sinai-medical-center #affordable-housing #urban-planning #los-angeles
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