Changes Unfold for 10-Story Multifamily Residential Building
By Dolores Quintana
A project that was part of a wave of Builder’s Remedy applications in Beverly Hills earlier this year is undergoing modifications, according to the city’s roster of ongoing development initiatives.
This project involves the construction of a 10-story, 70-unit multifamily residential building located just south of the intersection of Santa Monica and Beverly Boulevards. The proposal was initially submitted for city review in February. Beachside Suites, LLC and Oak Investment Co., LLC, the same entities behind the original project, continue to be the applicants and property owners.
The applicant is again identified as Beachside Suites, LLC, a company overseen by Builder’s Remedy trailblazer Leo Pustilnikov. Oak Investment Co., LLC has affiliations with Dromy International Investment Corp, a Beverly Hills-based organization.
The Builder’s Remedy, a lesser-known aspect of state housing law, permits property owners to bypass specific zoning regulations related to height and density by providing the requisite amount of affordable housing. This is particularly applicable in jurisdictions lacking state certification for their housing elements. WS Communities effectively utilized this law earlier this year in Santa Monica, presenting more than a dozen projects comprising approximately 4,000 residential units before the city secured certification.