Hudson Partners is the exclusive agent for the development site situated at the corner of 2nd Street and Lucas Ave. This land assemblage consist of 3 separate APNs which total 12,037 square feet. 50 units are allowed consisting of 45 market units and 5 extremely low income could be built by Right under the new TOC. This site is situated within the Transit Oriented Communities (TOC), since the map was made public in September 2017. This Tier 2 zone allows for a 60% increase in the number of allowed units By Right, with the condition of allocating small percentage of affordable housing as low as 10% of the project. Additionally, under this revise zoning, the new parking requirement if 1 per Unit and there are numerous other incentive such as reduced setbacks and open space under Tier 2
This site next to Downtown and could provide excellent DTLA unobstructed views. The height limit is 75 feet under CW zoning, plus additional 11 feet with Tier 2 incentive. Also, under the CW zoning there is an open space requirement of 100 feet per unit which also reduced to 80 feet/unit under Tier 2.
