LOS ANGELES — Priority Capital Advisory has arranged a $21 million land and predevelopment loan for the recapitalization of a 2.1-acre site on behalf of Grubb Properties. Located at 1000 S. Vermont St. in Los Angeles’ Koreatown neighborhood, the fully entitled development is the site of Link Apartments Kora, a planned mixed-use multifamily project. Once completed, the seven-story project will offer 241 apartments and 50,630 square feet of ground-floor retail space.
Grubb Properties acquired the parcel in February 2022 and has performed demolition and preparation on the site that is now shovel-ready with vertical construction slated to begin in September and completion scheduled for July 2028.
Link Apartments Kora will feature 36 studio units (two affordable), 123 one-bedroom/one-bath units (six affordable) and 82 two-bedroom/two-bath units (four affordable). Community amenities will include a half-acre deck, pool, spa, fitness center, coworking space, two lounges, two rooftop decks and a dog run and wash.
Grubb Properties’ Link Apartments brand is aimed at servicing the essential housing crisis in the United States. Link Apartments are focused on intelligent design and desired resident amenities that provide a lower cost, urban infill living opportunity.