New concept: Loft living in artsy Venice

UPDATE AUGUST 1:
These units are currently listed on the MLS ranging in price from $1.375m to $1.499m. The website gives an brief description of the zoning that allowed them to build 3 'residences' on a small single residential lot. Here is the website:
http://www.venicelofthomes.com/index.html

We're curious to see if the current housing market can support this kind of residence at this price. Are there any other examples of this out there, in the Venice/Ocean Park area?




And we thought that there was a glut of these on the westside! Obviously, the developers know more than we at WestofLincoln do. Get out your checkbooks for they are now 'taking reservations' for these spanking new construction of 3 townhome-style units just south of Venice Blvd. on Oakwood Ave.

While (arguably)interesting architecturally, it's questionable as to whether this project really fits into this low density single family home neighborhood. What is the zoning for this block, anyway?