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Platinum Equity Aims to Redevelop Beverly Hills Home to 4-story Building

Platinum Equity Aims to Redevelop Beverly Hills Home to 4-story Building
Traded Media
by Traded Media

A new proposal for 208 North Crescent Drive in Beverly Hills, Los Angeles has been submitted. The project would replace a single-family home from the 1920 and would feature ten residential units. 

The team: This project is being developed by Platinum Equity, a Beverly Hills-based firm. The design is by Kevin Tsai Architecture.

The plan: The proposed building would be four stories tall and have a stucco finish with large panel windows. It would have a rooftop amenity deck and a parking garage with 13 spaces.

What’s next: The project is seeking density bonus incentives to allow for a larger building than would normally be allowed by Beverly Hills zoning rules. In exchange, one of the apartments would be set aside for rent as very low-income affordable housing.

The application for the project is set to be reviewed by the city's Planning Commission this week. If approved, construction is expected to take 20 months.

Additional details about the project:

  • The units will be a mix of one-bedroom, two-bedroom, and three-bedroom floor plans.

  • The project is located outside the Business Triangle, in a residential neighborhood.

  • The project is expected to create about 20 construction jobs.

Published: September 15, 2023

All MarketsCaliforniaResidential

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