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Thursday, January 19, 2017

New apartments proposed across from Echo Park Lake [updated]

Site of new apartment building across from Echo Park Lake

ECHO PARK —  The Echo Park Neighborhood Council on Wednesday, Jan. 11,  is scheduled to review plans for a five-story apartment building to be constructed on a vacant hillside lot across from Echo Park Lake.

The new Glendale Boulevard apartments would include 13 units and one affordable unit, which are usually reserved for tenants with low and moderate incomes, and 28 parking spaces, according to the council agenda for the Wednesday, Jan. 11 meeting. A rendering of the development submitted to the council showed a stark, white building with large windows overlooking the lake.

The identity of the developer, however, was not revealed in the council documents. The approximately 45,000-square-foot property at the southwest corner of Glendale Boulevard and Montrose Street was part of the large portfolio of properties that were sold off in 2015 by the International Church of the Foursquare Gospel.

Developer and real estate investor Fred Afari paid $8 million for the properties, which included vacant lots, homes, apartments and commercial buildings in Echo Park, according to the L.A. Business Journal.  But, Afari who had reportedly planned  to build “high-end multifamily” buildings on the vacant lots, is not involved in the Glendale project, said an associate. Afari sold the lot several months ago, she said.

Afari, however, still owns another empty lot across from the lake – at Echo Park and Park Avenues – that was part of his deal with the church. Afari’s company is also in the process of renovating another former church property at the corner of Alvarado and Elsinore streets.

Wednesday’s meeting, which includes several other items, is scheduled to begin at 6 p.m.

This story has been updated with new information about Afari’s current Echo Park landholdings. 

Screenshot 2015-12-10 at 3.10.51 PM

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5 comments

  1. usedtoliverightthere

    Probably 45,000 square feet, I’d think, rather than acres.

  2. Any more info on the property at Alvarado and Elsinore? It has been sitting vacant for years in this prime real estate area and gets tagged almost daily.

  3. Great news.. hope to see more vacant lots with this type of development.

  4. The vacant lot at Glendale Boulevard at Montrose Street is 20,020 sq.ft. and the proposed building’s stories are 4. The developer corrected the numbers before his presentation at the Echo Park –Planning and Land Use meeting on Jan 11.

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