Redcar Properties has filed plans with Los Angeles to build a 203-unit mixed-used complex at 643 North Spring Street in Chinatown. 

The proposal calls for a 102-foot complex that will include just over 21,000 square feet of ground-level retail space and below-grade parking for 212 vehicles and 203 bicycles.

Redcar bought the site for $14.75 million early last year. An older three-level building and parking lot are currently located on the property. Close to the corner of Spring Street and Cesar Chavez Avenue, it's a prime location for both potential residents and retail tenants looking to find a home in Chinatown or El Pueblo.

This is just the latest in a series of mixed-use projects that have been popping up all across Chinatown. Other recent developments include the Blossom Plaza and La Plaza Cultura Village projects. Aside from the obvious potential of the neighborhood, a vision of expanded rail running throughout is also whetting developers' appetites on the region. 

Sources:

Redcar Properties plans 203-unit project in Chinatown [The Real Deal]

Another Mixed-Use Development Planned Near Olvera Street [Urbanize LA]