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Thursday, July 31, 2014

The Great Walls of Silver Lake to go condo

The giant retaining wall that snakes high above Riverside Drive west of Fletcher Drive and another that looms right against the sidewalk mark the spot of what some people call the Menlo property. Developers have tried and failed for decades to build a project on this steep Silver Lake slope overlooking the 5 Freeway. Now comes word that the property owners have proposed building 120 condominiums on the site, according a city Planning Department report (look under Silver Lake). The owners approached residents about building on the site about two years ago but nothing came of it, according to Diane Edwardson at the Corralitas Red Car Property blog. Edwardson has a write up on the Menlo property under a post titled “Legacy of Failed Development.” That label is probably going to stick for a while given the current real estate market.

Related Links & Posts:
As projects grind to a halt, home sites sit in wasteland. LA Times
The real estate market has turned ugly and Eagle Rock has the eyesore to prove it. The Eastsider

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