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High-rise apartments planned for key Koreatown intersection

January 29, 2011 |  6:51 pm

Two new high-rose towers are planned for the Koreatown area.

Builder Jerry Snyder plans to break ground this summer on a 464-unit complex at Wilshire Boulevard and Vermont Avenue, where he had previously announced his intention to build a vertical retail mall. The plan calls for two towers of 25 and 30 stories.

The recession killed that development, he said, but the apartment market is "very strong" and will soon be ready for new units. Construction has been rare, however, since the economic downturn began, and this would be one of the largest new developments in the region.

Tenants might include USC students, members of the Korean community and young professionals such as "echo boomers who don't want to live in the suburbs," Snyder said.

Read the full story here.

-- Roger Vincent

Image: Jerde Partnership