The long-quiet former Walgreens on Sherman Way may be headed for a serious glow-up, with a developer asking the city to swap out the empty drugstore and surface parking lot for a seven-story, roughly 290-unit apartment building that includes dozens of income-restricted homes. The application landed with Los Angeles planners last Friday and seeks density-bonus incentives to build bigger than the base zoning normally allows. If the proposal survives the city’s review process, the dead retail corner could become one of the largest new residential projects Sherman Way has seen in years.
City filing lists applicant and entitlements
According to the city’s online case file for CPC-2026-2880-DB-CDO-PR-VHCA, the applicant is listed as Ariel Namvar of Park Sherman LLC. The filing calls for demolition of the existing pharmacy building and construction of a seven-story mixed-income development with 290 apartments. Logged last Friday, the request seeks density-bonus incentives, Community Design Overlay review and project review, and lists Rosenheim & Associates as the project representative, per the Los Angeles Department of City Planning.
Where the project would sit
Local reporting identifies the site as the former Walgreens on Sherman Way, a property that has sat vacant since 2023. The Real Deal also reported that the developer intends to reserve 44 units for very-low and moderate-income households, citing state HCD guidance on the income limits attached to those affordability categories.
Project details reported by local outlets
Industry coverage says the plan calls for about 290 studio, one-bedroom and two-bedroom apartments, along with roughly 200 parking spaces, in a building described as having a modern architectural style. Local outlets have highlighted the affordability trade-off at the heart of the proposal: the developer is seeking density bonuses in exchange for the 44 income-restricted units. As reported by Urbanize Los Angeles, the package is framed as a mixed-income project that leans on existing incentive programs to boost housing production.
How this fits into a wider trend
The Reseda proposal arrives amid a broader Los Angeles push to bake income-restricted housing into new projects. An analysis by RentCafe found that the Los Angeles metro area added roughly 9,400 income-restricted apartments between 2020 and 2024, accounting for about one-fifth of all new apartment construction during that period. Local outlets have also pointed to nearby reuse and redevelopment efforts along Sherman Way, including plans to revive the long-vacant Reseda Theatre, as part of a corridor-wide wave of proposals.
Next steps and timeline
The case now heads into the Department of City Planning’s review pipeline, which could include design and environmental review, plan checks and any public hearings linked to the requested discretionary entitlements. The online case file details the entitlements sought and notes the staff assigned to the project, and additional design materials and public notices are expected to appear in the record as reviews move forward, according to the Los Angeles Department of City Planning.
Neighbors and businesses along Sherman Way could see notices or outreach if the proposal advances to public hearings. We will keep an eye on the case file and report back on any new filings, community meetings or approvals tied to the project.
-2.webp?w=160&h=400&fit=crop&crop=edges)