The remaking of Temple Street continues as yet another developer has proposed building a large residential building between Echo Park and Downtown.
Laterra Development has filed an application with the Planning Department to build a 53-unit residential building at the southwest corner of Temple and Beaudry streets, a site now occupied by an auto repair shop. The project would include four units of housing for low-income tenants, according to the filing.
The Laterra project is one numerous residential projects that have recently been built or are in the works on or near Temple Street between the 110 Freeway on the east and Hoover Street on the west. More than 2,000 residential units — most of them apartments — would be added to this corridor if all the projects pan out.
The largest of these projects is located across the street from the Laterra site, where apartment developer Geoff Palmer is preparing to build his largest residential project yet – a 1,500-unit, mixed-use development on a site now occupied by a data processing center.
For developers looking to build relatively large projects, the Temple Street corridor is an attractive alternative to the portions of Echo Park and Silver Lake north of the 101 Freeway because zoning allows more intense development. In addition, the strip is close to Downtown but land prices are relatively lower.
Some of the multi-storied apartment buildings include swimming pools, roof top terraces and flashy architecture. While Temple has been promoted as a lower-priced alternative compared to neighborhoods north of the 101, many of the apartments in the new buildings are asking $2,000 or more a month for studio and one-bedroom units.
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