Only a few months after purchasing a three-acre parcel in Elysian Heights, a developer seeking to build 15 homes on the hillside property has put the project back on the market. News of the sale comes one day after the owners of Planet Home Living met with residents to discuss their concerns about the cutting down of more than 40 native trees on the property near Allesandro Street and Rosebud Avenue. Michael Marini of Planet Home, which purchased the three-acre site this spring, said his firm remains committed to building the 15 homes under the city’s small lot ordinance but would also consider potential offers to buy the property in light of other recent land sales in Echo Park, Eagle Rock and other nearby neighborhoods.
“There has been a lot of activity in this area,” Marini said of recent land sales. “It’s not a financial issue – we have the financial means to get construction loans to build this right away. We really, really want to build this.”
During the meeting, Marini and business partner David French said they had modified earlier grading plans to remove less soil from the site and plant more than 168 trees to replace the mature trees that will be cut down. The developers are being required by the city to grade a portion of the property to stabilize a slope that would loom over the homes. Marini and French vowed that the newly graded and planted hillside planted would remain open space with a trail.
Marini said those commitments would have to be honored even Planet Home Living sold the property to another developer.
He said no asking price has been set for the property but bids were being accepted through Oct. 20, according to a land sales website.