Buyers emerge for Eagle Rock & Echo Park eyesores*

Eagle Rock lofts. Photo from theMLS.com

Echo Park Townhomes

A pair of failed housing projects in Eagle Rock and Echo Park that have sat uncompleted for several years appear closer to finally being finished.  A Texas home builder has purchased the 36-unit Echo Park Townhomes, which neighbors will recognize as the weedy lot filled with partially built homes framed in blue-tinted wood.  Meanwhile, Eagle Rock’s most prominent real estate ruin – a nearly-block long row of concrete columns and unfinished retaining walls on Colorado Boulevard – is in escrow.  “The property is under contract,” said agent Kristina Kaminski with Rodeo Realty of the Eagle Rock project, a 17-unit, live-work, loft-style development that has sat idle for several years, attracting tagging, trash and neighborhood complaints.  Kaminski, which listed the property for $2.5 million, would not identify the buyer interested in purchasing the lender-owned property. However, she said the deal could be closed within 30 days. “We are very optimistic about moving the project forward.”

The Echo Park project, formerly called The Durbin, at Echo Park and Delta avenues was purchased late last month by Texas home builder D.R. Horton, said listing agent Tim Barden with Land Advisors, a brokerage company (The Eastsider reported in April that the property was in escrow).  Barden would not disclose the sales price but one real estate agent who has been following the deal said that Horton is believed to have paid more than $4 million for the 1.42 acre site, which drew multiple offers.

* Update: A spokeswoman for D. R. Horton had no further detail about the project. “Our LA division responsible for that project is refining the development vision and is not ready to make the details public yet.”

No comments

  1. WOW is this buyer number three? Just leave as is please. We are used to them now.

  2. The one in Eagle Rock has a serious retaining wall issue. The 50’+ wall holding the hillside up is already leaning. The rumor Ive heard is that the city shut this project down for that reason. I hope the new buyer does their due diligence!

  3. The Echo Park eyesore is a mess, and has been for years….rather see it return as chicken corner…..all this hood needs is more hollywood posers moving in with no driving skills/etiquette. Next will be a stoplight on that corner.

  4. @amy such welcoming words to the new neighbors. i’m sure your a thrill a minute. been here long enough from the midwest to be old school LA huh ?

  5. everyone on this blog is so bitter all the time.

  6. This is great news! Glad to hear these properties will be owned by organizations that will make an attempt at improving their respective neighborhoods. Gotta love L.A. A continually evolving, living, breathing, urban animal.

    Amy – Wouldn’t it be great if the Echo Park eyesore could be turned into a park? That would be awesome. Expensive and unlikely, but awesome.

    Sky – Too bad the buyer won’t identify themselves. We could tell them about the retaining wall issue otherwise.

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