A Roundup of Eastside Real Estate and Development News
Welcome to a digest of Eastside real estate news, development and people. In this week’s issue:
An affordable housing project with commercial space has been proposed to be built atop an East Hollywood Red Line Station. Sunset Junction in Silver Lake is getting two new hotels. And new tenants have been signed up for a restaurant and commercial complex on the south side of Echo Park.
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Real Estate Roundup
Curbed L.A. has updates on the Sixth Street Bridge project as well as photos of construction. Y-shaped frames have partially gone up that will support the new bridge as it’s being built.
Cielito Lindo Apartments II on 1st and Soto Streets is to receive an extra $1.6 million in gap funding after a recent City Council vote, according to Urbanize – raising the City’s share of the project to a little more than $2 million. The project is for a four-story building with studio, one-, two- and three-bedroom apartments, priced for households making between 30% and 50% of the area median income.
The College Station project has published its draft environmental impact report, Urbanize reported. It’s a step forward for the 770-unit project that would cover a vacant five-acre lot near Los Angeles State Historic Park. The project would include apartments sitting atop about 51,000 square feet of ground-floor commercial space.
The leasing agents for Echo Park Village, a complex of brick storefronts now being renovated in the 300 block of Glendale Boulevard, have signed up two more tenants: The 10 Bells, a New York-based wine and tapas bar, and Gra Pizza, a sourdough pizza concept. That leaves only 3 spaces left in the center, said leasing agent Daniel Firtel.
Could an affordable housing development rise on top of a Metro Red Line station at Vermont Street and Santa Monica Boulevard? L.A. Curbed reports that the Little Tokyo Service Center is proposing a 100% affordable development with 160 residential units for people making 30% to 60% of the area median income. Half of the units would go to tenants with special needs. The plan also calls for 21,000 square feet of commercial space on the ground floor. Metro’s Planning and Programming Committee has recommended entering into an 18-month Exclusive Negotiation Agreement with LTSC on the project.
Renderings have been unveiled for the new student housing complex by the L.A. County + USC Medical Center, Urbanize reports. The building at 1630 San Pablo Street is to be six-stories with 95 residential units – mainly four-bedroom suites – and 10,000 square-feet of retail space.
It looks like Sunset Junction in Silver Lake will be home to two hotels, with one expected to open by the end of the year. A real estate investment firm is renovating a motel that had been used for long-term stays into a hotel with 54-guest rooms and a new restaurant. Meanwhile, a new, 4-story, 94-room hotel is planned for a block away as part of the Sunset Junction Gateway project. The Eastsider
There’s been a change in plans at the remodeled Glendale Boulevard shopping center that is home to the 365 by Whole Foods market. A building permit has been issued to allow the vacant space at the north end of the center to be used for a restaurant instead of a retail establishment. What kind of restaurant? Who knows but if you think parking is scarce now in this shopping center just wait until the new restaurant opens.
A newly constructed, 3-bedroom, 3-bath home in the 1800 block of Lucile Drive in Silver Lake sold for $2.275 million, according to Redfin. The hillside home, which went on the market in January, sold for $20,000 below asking.
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That’s it for this issue of Real Estate Monday. We will be back next Monday.
— Barry Lank & Jesus Sanchez
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