Council paves way for 500 new residents along Broadway
"By a 13-0 vote, the council expanded a Planned Industrial Expansion Authority area to make a proposed mixed-use development west of Broadway between 34th Street and 34th Terrace eligible for a property tax abatement.
Plans for the project call for the seven-story MGE Building at 3420 Broadway to be converted into 103 high-end apartments.
This site plan depicts Los Angeles investor Joseph Kashani's plan to redevelop a block on Broadway between 34th Street and 34th Terrace. In addition to the 101-unit residential conversion of the seven-story MGE Building, the plan calls for construction of two 54-unit apartment buildings, a two-story commercial building and 20 townhomes.
The developer of the project, Los Angeles real estate investor Joseph Kashani, also plans construction of a 16,000-square-foot retail/office building immediately south of the MGE Building, two 54-unit apartment buildings along Washington Street and 20 townhomes along Pennsylvania Avenue."