A property on Hobart and Olympic boulevards that houses a low-slung strip mall could soon give way to a multi-use complex with more than 200 residential units.

Plans filed with the Department of City Planning indicate that Cbs Property Group, the developer listed on the filing, has plans to put 252 residential units over 33,280 square feet of retail on the site just east of the Koreatown Galleria complex. Forty of those housing units will be set aside for very low-income tenants.

All the parking will be underground, according to the plans, though there’s no indication from the document as to exactly how many spots there will be in the subterranean spots.

There’s a lot of action mounting not so far away, near the Wilshire/Western Purple Line stop. In September alone, there have been 132 apartments planned atop a parking garage and a hotel and six restaurants proposed for a property a few blocks south of the Wiltern.