Los Feliz storefront shakeup; Eagle Rock million-dollar sales adding up; new Highland Park & Lincoln Heights homes

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:

Some  Los Feliz Village merchants are blaming a lack of parking for a turnover in restaurants and retailers. Overhauling the Glendale-Hyperion bridge is going to cost more than everyone thought – and take longer to finish. And there’s new housing headed for Highland Park, Lincoln Heights and Silver Lake.

Read on!

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Real Estate Roundup

The overhaul of the landmark Glendale-Hyperion bridge connecting Atwater Village and Silver Lake is going to cost more than originally estimated and be completed well beyond the initial schedule.  Now, work is is scheduled to begin in April 2020 and cost $62 million to complete. The Eastsider

Atwater Village

A proposal to create a new riverfront park while rebuilding a city-owned maintenance yard and office compound would take a decade to complete and cost $312 million if approved, The Eastsider reports. That’s the timeline and price tag for remaking the nearly 25-acre Central Service Yard, which is the main administrative and maintenance center for the Department of Recreation and Parks.

Eagle Rock

2018 has started off strong for million-dollar sales. So far 10 homes have sold for seven figures, according to Refin. The latest million-dollar sale is a 3-bedroom Craftsman north of Colorado Boulevard that sold for $1.350 million  — $150,000 above the asking price. The other million-dollar sales include a 107-year-old fixer-upper and the record-breaking $5.25 million purchase of the Bekins estate.

East Hollywood

Wiseman Development has returned to the City Planning Commission with a revised plan for a new apartment building that would replace a single-family home at 4749 W. Elmwood Ave., Urbanize reported. The new building would have four stories and 14 units, with one apartment set aside for very low-income households as well as 20 parking spaces in a basement level. An earlier design had been criticized for its ground-level garage entrance and lack of landscaping around the perimeter.

East L.A.

Metro’s board voted in favor of pursuing more modest changes to the 710 Freeway for now instead of widening the roadway to deal with heavy truck traffic. Widening the freeway would cost $6 billion and displace about 400 residents and 158 businesses. L.A. Times &  My News LA

Echo Park

The Eastsider takes a closer look at the details, design and size of  the approximately million-square-foot development that would replace the former Metropolitan Water District campus just east of Echo Park. Plans  include a 49-story skyscraper, a hotel, shops, restaurants and nearly 800 residential units for the 1100 block of Sunset Boulevard. The Eastsider

Highland Park

Building permits have been issued to construct four, 4-story townhomes at 812-814 Chestnut Avenue. Plans show the 1,690-square-foot single-family homes will be constructed in a row alongside a single driveway. Each house will rise above a 2-car garage.

Lincoln Heights

Nine new small-lot houses will be sprouting up in a vacant lot in the 2800 block of N. Griffin Avenue. Urbanize reports the single-family residences – designed by Tighe Architecture – will have gabled roofs and will be arranged around a common driveway.

Los Feliz

It’s hard for stores to stay open in Los Feliz Village despite all the foot traffic. The Los Feliz Ledger has found eleven storefronts along Hillhurst and Vermont avenues and Hollywood Boulevard that are empty or being renovated. Storeowners said that a lack of parking is putting a strain on their businesses.

Silver Lake

Eleven single-family, small-lot residences are going up just south of Sunset Boulevard, Urbanize reported. Replacing an old duplex and fourplex, the collection of new three-story buildings on the 800 block of N. Coronado Street are to be set around a common driveway.

Notable Sale

A Highland Park “fixer” duplex designed by Mid Century architect Allyn E. Morris sold for $750,000 or $51,000 over asking, according to Redfin. Morris designed numerous homes and apartments in Silver Lake and Echo Park. A 1956 Morris-designed home in Glassell Park sold for $1.75 million in 2016.

On The Market

New Listings From Eastsider Sponsors

A beautiful Spanish in Atwater Village

Walls of Glass and Astounding Views in Glassell Park

The Historic John R. Hunt Home in Silver Lake Hits the Market for $2.375M

Rare Spanish Colonial & Side-By-Side Duplex in Atwater Village

Spanish Courtyard Retreat in Echo Park Hills!

Highland Park 4-Bedroom /3-Bath with Dancing Studio!

Sunny Highland Park Bungalow With Vintage Character

Stylish Studio – Perfect Live/Work Combo in Highland Park

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

— Barry Lank & Jesus Sanchez

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