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Developer Seeks to Build 432 Apartments in NoHo

By Hannah Madans Welk

February 12, 2019

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A developer wants to build 432 apartments as part of a proposed residential and retail complex in North Hollywood. According to a Department of City Planning document filed Feb. 7 by Don Hankey on behalf of Lankershim Crossing LLC, the mixed-use development, which would rise at 7940 N. Lankershim Blvd., would include 48 affordable units as well as 22,000 square feet of ground floor commercial space and 18,000 square feet of community and recreation room area. Among the desired entitlements, the developer is requesting a master conditional use permit for the sale and dispensing of alcoholic beverages for an approximately 14,000 square-foot retail store or pharmacy for off-site consumption and on the premises consumption for two approximately 4,000 square-foot restaurants. Based in Los Angeles, Hankey heads the Hankey Group, which has nearly 3,000 employees worldwide and includes a number of entities, including the 1982-founded real estate investment firm Hankey Investment Co. LP, which manages nearly $2 billion in assets and owns 3.3 million square feet of commercial property and 14.5 million square feet of urban development land in Southern California.

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Hannah Madans Welk

Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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