A vacant Walgreens site on Sherman Way in Reseda could become a seven-story, 290-unit apartment building. The proposal is part of a wave of major development projects reshaping the neighborhood's commercial corridors.
A shuttered pharmacy on in could soon be replaced by a seven-story apartment building with , according to a development application filed with the Los Angeles Department of City Planning. The proposal marks one of the largest residential projects yet proposed for the neighborhood's core commercial corridor.
The application, filed under case number CPC-2026-2880-DB-CDO-PR-VHCA, calls for the demolition of the existing pharmacy building and surface parking lot at 18340 Sherman Way. The site has been vacant since 2023, according to The Real Deal and Urbanize Los Angeles.
The developer is Ariel Namvar of Park Sherman LLC. The proposed building would include studio, one-bedroom, and two-bedroom apartments along with parking for 200 vehicles, according to the planning filing as reported by San Fernando Valley Blog.
"The property is currently developed with the former Walgreens building and surface parking. The pharmacy has reportedly been vacant since 2023, leaving another large commercial parcel along Sherman Way available for potential redevelopment," according to San Fernando Valley Blog.
Namvar is seeking density bonus incentives to allow a taller structure than current zoning permits. In exchange, the developer would designate 44 units for very low-income and moderate-income households, according to The Real Deal.
Under California Department of Housing and Community Development guidelines, very low-income for one person is capped at a maximum annual income of $58,300, while moderate-income is capped at $90,800.
The Walgreens project is not the only major development moving forward in Reseda. Across the street, Azure Development has proposed converting the long-vacant Reseda Theatre into a food hall, according to Urbanize Los Angeles.
Other recent Reseda development proposals include:
Reseda's Sherman Way and Reseda Boulevard corridors have long been defined by older retail buildings, auto-oriented businesses, and surface parking lots. The wave of new proposals suggests a shift toward denser residential development.
The median home sale price in Reseda was $775,000 in May, down about 5 percent from a year earlier, according to Redfin data cited by The Real Deal. That is significantly more affordable than Los Angeles overall, where the median home price is over $1 million.
Whether viewed as much-needed housing or another major alteration to the neighborhood's traditional low-rise character, the proposed projects represent a significant transformation of one of the San Fernando Valley's most recognizable commercial hubs.
This article was generated with AI assistance.