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New housing proposed for East Hollywood Red Line Station; Echo Park shopping center filling up; 2 hotels for Sunset Junction

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.

Read on!

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Real Estate Roundup

Boyle Heights

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.

Chinatown

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.

Echo Park

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.

East Hollywood

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.

Lincoln Heights

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.

Silver Lake

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.

Notable Sales

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.

On The Market

New Listings From Eastsider Sponsors

Mid-Century Modern Mountain Getaway in Lake Arrowhead

Beautiful Echo Park Craftsman and a Charming 1920’s Eagle Rock bungalow by Courtney + Kurt Real Estate

Beautiful Homes for Sale in Glassell Park, Echo Park and Mt. Washington from Tracy Do

For Sale: Silver Lake Mid-Century Duplex with Breathtaking Views

That’s it for this  issue of Real Estate Monday. We will be back next Monday.

— Barry Lank & Jesus Sanchez

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