A Roundup of Eastside Real Estate and Development News
Welcome a digest of Eastside real estate news, development and people. In this week’s issue:
A developer is proposing to build a small six-unit hotel in Echo Park. Meanwhile in Frogtown, part of a food processing plant has been demolished to make way for condos and small-lot houses. And a tenants rights group says a proposed design district will push out low-income residents in the Westlake and Historic Filipinotown areas.
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Real Estate Roundup
A six-unit hotel/ B&B is being proposed for the 1200 block of Sunset Boulevard – in a project called Sunset Terrace. The architects, J Lou Architects, say the bed and breakfast will feature a 5-star restaurant, a gym, and rooftop terraces (a person with the firm said the renderings on their website will be updated).
As currently proposed, the project would mean demolishing at least two homes before construction could start. The city’s Planning Department would have to approve building a hotel near a residential area. In recent years, however, this part of Sunset has already seen new stores, housing and restaurants – including a branch of Guisados that opened across the street in 2013.
Buildings have been cleared away at Blake Avenue by Blimp Street for a proposed mixed-use projects of condos and small-lot houses, reports Urbanize LA. A development called the Blake Avenue Riverfront Project is to cover nearly five acres at 1771 W. Blake Avenue and 2645 N. Blimp Street. It is to include 100 single-family, small-lot homes and 2,260 square feet of new commercial space. The Blimp Street site will include 17 condominium units and 1,347 square feet of new commercial space.
The LA Tenants Union says a “design district” proposed for the northern part of Westlake, including Historic Filipinotown, “will systematically displace residents and small businesses that have thrived in their neighborhoods for decades,” reports Curbed L.A.. The commercial properties along four Beverly Boulevard, Temple Street, Third Street, and Alvarado Street would be subject to new design standards, along with requirements for site layouts and parking.
A 4-bedroom home in Glassell Park sold for $411,000 higher than the asking price. The renovated bungalow on West Avenue 33 sold for $1,310,000. The nearly-half-acre parcel includes a guest unit. Redfin
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The former Owl drug store on Figueroa Street in Highland Park is up for lease, with annual rental rates ranging from $33 to $42 a square foot.
The only commercial space in the Taylor Yard Transit Village, a development of new homes and apartments in Cypress Park, is now available for lease as the final phase of construction is underway.
Until Next Week!
That’s it for this issue of Real Estate Monday. We will be back next Monday.
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