HVN Development Secures Permits for 78-Unit Affordable Complex Near Netflixs Radford Studio Center

HVN Development, an Irvine‑based affordable‑housing firm, received construction permits from the Los Angeles Department of Building and Safety (LADBS) for a new five‑story multifamily building at 12025 West Hoffman Street in Studio City. The project will replace a low‑sloping multifamily structure with a 78‑unit complex that will be fully affordable to low‑ and moderate‑income renters.

The developer is using the city’s density‑bonus program to build a larger structure than zoning normally allows. In exchange for the increased density, the building will qualify for the Los Angeles Executive Directive 1 (ED 1) expedited approval process, which is reserved for 100 % affordable projects. According to LADBS records, the permits were issued in early 2026.

The new building sits adjacent to the distressed Radford Studio Center, a 55‑acre film‑production lot that Netflix is in the process of purchasing. The studio’s sale was reported in April 2026, and the acquisition was completed for $400 million in June. The proximity of the new affordable housing to a major entertainment property underscores the growing demand for housing in the San Fernando Valley.

HVN has announced several other projects in the Valley. A 102‑unit development is planned for 12434 Moorpark Street, and a 131‑unit, five‑story building is slated for 11143 Acama Street. Both projects are designed by Stockton Architects and will also use density bonuses and ED 1 approvals.

In Toluca Lake, the developer secured permits last year for a 91‑unit, five‑story affordable project at 10953 Whipple Street. The design, also by Stockton Architects, follows the same model of using density bonuses to increase unit count while maintaining full affordability. An additional permit was issued for a 11218 West Califa Street project in North Hollywood.

HVN is pursuing new construction in other parts of Los Angeles County. In March, the firm filed an application for a 77‑unit, five‑story building at 8811 South Reading Avenue in Westchester. The following month, it submitted a plan to demolish two apartment buildings in Mar Vista and replace them with an 81‑unit, five‑story complex at 11848 Venice Boulevard.

The developer’s strategy reflects a broader trend in Los Angeles. Since the launch of ED 1 in 2022, the city has accelerated the permitting process for projects that are 100 % affordable. The program allows developers to receive expedited reviews from City Planning, LADBS, and the Los Angeles Housing Department.

According to public records, HVN has completed or begun construction on more than 600 units across 10 projects in the past year. The firm’s focus on fully affordable housing aligns with the city’s goal of increasing the supply of low‑income units to address the state’s housing crisis.

The new Studio City building will add 78 units to the neighborhood’s housing stock. While the project’s exact mix of unit sizes is not yet disclosed, the developer’s past projects have included a range of studio, one‑bedroom, and two‑bedroom apartments.

The permits also include requirements for accessibility, energy efficiency, and community amenities, in line with LADBS regulations. The developer has indicated that the building will incorporate common spaces and a small park area.

The project’s location near the Los Angeles River and the Radford Studio Center raises questions about environmental impact and traffic. The city’s planning department has reviewed the site’s environmental assessment, and no major concerns have been reported.

HVN’s use of density bonuses and ED 1 approvals is a common approach for developers seeking to maximize unit counts while maintaining affordability. The city’s regulations allow for a 20‑percent increase in allowable density for projects that meet the affordability criteria.

The upcoming construction will begin once the final construction permit is issued, which is expected within the next few months. The developer has not yet provided a projected completion date.

The new building will contribute to the growing number of affordable units in Studio City and the broader San Fernando Valley, a region that has seen significant population growth and rising housing costs. By leveraging city incentives, HVN aims to deliver more affordable housing while supporting the local economy.

The project’s completion will add to the city’s inventory of low‑income housing and may serve as a model for future developments in similar neighborhoods.