SILVER LAKE — The Silverlake Conservatory of Music has ended its effort to buy a Sunset Junction parcel for a new school after waging a public campaign to get the land owner to sell and give up plans to build a large apartment building on the property. Now there is a possibility that the conservatory, co-founded by Michael Peter Balzary – aka Flea – of the Red Hot Chili Peppers, might be leaving Silver Lake altogether after purchasing a different property on Hollywood Boulevard.
The conservatory on Thursday told land owner Frost/Chaddock that it had decided against buying the property after three months of negotiations, the developer said in a statement issued today. The statement in part said:
The Conservatory informed us that they have decided not to purchase the property, and we understand that they instead intend to move forward with the site they have already purchased on Hollywood Boulevard. Throughout the process both sides proceeded in good faith and were fair, honest and respectful with each other as they endeavored to resolve various deal points. We understand that the Conservatory’s board ultimately decided that, on balance, it made more sense to remodel their new property on Hollywood Boulevard rather than take on a significant financial commitment to purchase, entitle, and construct a new school at 4000 Sunset.
Frost/Chaddock said it proposed selling the parcel at a price that would have resulted in a financial loss. The firm initially resisted the unsolicited offer for the property where it planned to build one of three large apartment buildings in the area.
But the company officials eventually began negotiating a sale after the school and its supporters put public pressure on the firm to abandon its planned five-story apartment building and sell the site. During a public meeting, Flea denounced the developer’s project as the “beginning of the downfall of the neighborhood.”
The Eastsider is seeking comment from the school, which currently operates out of a Sunset Boulevard storefront in Sunset Junction, about its plans. Curbed L.A. noted that a conservatory representative said that the school “might become the Los Feliz Conservatory of Music” if it could not find a place to expand in Silver Lake.
While Frost/Chaddock negotiated with the conservatory last year, it continued to pursue plans to build the three apartment buildings. In December, the firm presented an updated overview of an environmental impact report for the project.
- Flea’s Music School Drops Quest For New Home at LA’s Hippest Intersection. Curbed LA