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Saturday, October 25, 2014

Pardon Our Dust: Glassell Park under construction

Backhoe (top) in action on Fletcher Drive; 52 condos coming to Eagle Rock Boulevard site(left); Four new homes under construction on Scandia Way.

Home builders are breaking ground, trucking in porta potties and installing water lines across Glassell Park as new construction takes place across the neighborhood.  On the west side of the 2 Freeway, a six-home, small-lot development broke ground two weeks ago on Fletcher Drive. In the middle of the neighborhood, an Orange County home builder is preparing to start work on Glassell Park’s largest residential development in several years, a 52-unit condo project on Eagle Rock Boulevard. On the eastern side of Glassell Park, four contemporary-style hillside homes on Scandia Way are about six weeks away from completion.  Meanwhile, some buyers are looking at converting more industrial and warehouse properties along San Fernando Road  into artists studios and creative work spaces, said land broker Bryant Brislin with Hoffman Land.

Why all the interest in Glassell Park?  Proximity to Super King? That fleeting Glassellland sign?  One key draw for potential home builders and home buyers is that Glassell Park remains relatively affordable compared to some of its higher-priced neighbors. “It’s definitely cheaper than Echo Park and Silver Lake,” said Brislin

The same neighborhood that was once best known for being home to the Drew Street gang has in recent years attracted some new restaurants and bars that have attracted newcomers.

“It has turned around significantly in the last five years,” said Kevin Wronske of Heyday Partnership, which recently broke ground on six homes on Fletcher Drive. “It is easy to overlook since it doesn’t have a defining commercial strip destination like Atwater or Eagle Rock. However, the upside to that is that the prices are significantly lower than those neighborhoods yet you’re still very close.”

It is easy to overlook since it doesn’t have a defining commercial strip destination like Atwater or Eagle Rock. However, the upside to that is that the prices are significantly lower than those neighborhoods yet you’re still very close.

It is easy to overlook since it doesn’t have a defining commercial strip destination like Atwater or Eagle Rock. However, the upside to that is that the prices are significantly lower than those neighborhoods yet you’re still very close.

Here’s a run down of three projects in different stages of development:

Rendering courtesy 4 Site Real Estate

Scandia Way homes/Rendering courtesy 4 Site Real Estate

  • Eagle Rock Boulevard Condos:  Warmington Homes of Costa Mesa paid $7.8 million last December to buy a nearly three-acre strip of land wedged between Eagle Rock Boulevard and the 2 Freeway. Here, south of Verdugo Road,  the Orange County home builder plans to start construction next month on the first batch of 52 condominiums, according to an employee on the site. If all goes on schedule, expect the first units to be completed six months later. He had no information on prices.
  • Scandia Way Homes:  The same developer that created the Auburn 7 small-lot project in Silver Lake is now building four homes perched on a hillside on Scandia Way.  Todd Wexman of 4 Site Real Estate said the homes are expected to be completed at the end of April.
  • Peak Place:  Heyday Partnership, which has built several small-lot projects across the area,  recently broke ground on a six-home development in the 3500 block of Fletcher Drive. The two-story homes with  two-car garages are expected to be completed in eight months, according the company website.  The 1,900 square-foot homes are expected to be priced in the low $500,000 range.


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