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:
A 204-unit residential project for Echo Park has a date with the city Planning Commission this week, with staff recommending approval. Two Silver Lake properties took a big step to becoming historic landmarks, but a third didn’t make the cut. And projects in Highland Park and Eagle Rock have been hailed as improvements on small-lot developments concept.
Real Estate Roundup
The L.A. Times commends residential projects in Highland and Eagle Rock for the ways they’ve embraced innovations in small-lot development. In Highland Park, the Ave 57 Art Walk Homes’ project gets kudos for incorporating car lifts into the garages of the 5-unit development. By stacking cars on top of each other, the project designers shrink the size of garage in half, adding 200 square-feet to the unit’s available living space. In Eagle Rock, the 45-unit E.R.B. is one of the surprisingly few small-lot projects that include a mix of uses. In this case, the project incorporates seven ground-level storefronts along Eagle Rock Boulevard.
Renderings are now available of the 38-unit small-lot development designed by Rachel Allen Architecture for 4515 Eagle Rock Boulevard (this is near The E.R.B project mentioned in the previous item). The project will replace the former Philippine Village commercial center. The new project will include ground-level storefronts facing the boulevard and landscaped walkways and streets within the boundaries of the development. Expect construction to start this year.
Update: A previous version of the story included the estimated cost of the 38-home project. That information, however, is no longer valid and is being updated. We will provide the latest figures when available.
A 204-unit, mixed-use development at Sunset Boulevard and Everett Street is headed for the Planning Commission this week, Urbanize reports. If the project by Canadian developer Aragon Properties is approved by the commission and City Council, the first step would be to demolish a warehouse, some residential units, a former hardware store and a car wash/repair shop. In their place would go two residential buildings totaling nearly 200,000 square-feet, including more than 11,000 square-feet of ground-level retail spaces, 294 parking spaces and 15 units designated as affordable. The Planning Department’s staff report recommends approval. The same developer has also begun construction on another Echo Park apartment building, a 70-unit structure on Glendale Boulevard.
A group of tenant rights advocates and supporters staged a small demonstration to protest the tenants-in-common sale of a four-unit property on Valentine Street. TIC allow numerous individuals to share ownership of a property but activist say that TICs sales can also help force out existing renters.
Australian singer-songwriter Sia Furler is putting her Echo Park bungalow back on the market, only about four years after she bought it, the L.A. Times said. She has listed it for sale at $849,000, having bought it through a corporate entity in 2014 for $660,000.
Urbanize has renderings for the nine-unit Bridewell project, located at Bridewell and Pollard Streets. Floor plans range from 1,865- to 2,456-square-feet. Urbanize said it should be done before the end of the year.
Electronic music artist Moby sold one of his Los Feliz homes for $4.91 million, according to the L.A. Times. The 5-bedroom English Traditional-style home in the 5500 block of Red Oak Drive sold below asking but more than $1.5 million above what Moby paid two years ago.
The Sowden Residence, a home designed to resemble a Mayan temple, sold for $4.698 million. The 5,600-square-foot Franklin Avenue home was designed by Lloyd Wright, the son of Frank Lloyd Wright. Hot Property
The Cultural Heritage Commission voted to declare two Silver Lake properties — including one designed by Modernist architect Rudolph Schindler — as historic cultural monuments, The Eastsider reported. But it turned thumbs down on the nomination of a Craftsman bungalow that was once home to a Silent film era actor and director.
Curbed L.A. has renderings for the 31-unit condo project at Sunset Boulevard and Micheltorena Street. The development, called Vica, will include 3,000 square-feet of street-level commercial space intended for restaurants. Expected to open in spring 2019, Vica condo units are expected to list from the $500,000s to about $2 million.
Urbanize notes you can now see the Periscope development along Riverside Drive reaching its eventual form, with most of the walls and windows now in place. The eight hillside buildings total 12 residential units, in a mix of single-family homes and duplexes.
On The Market
Longtime Berkshire Hathaway agent Judy Oroshnik, who has represented many Echo Park sellers and buyers, has jumped ship to Compass Real Estate’s new Hollywood office.
Stayner Architects has become the latest architectural/design firm to open an office on Echo Park Avenue in Echo Park. They’re in a small commercial space in the ground floor of an apartment building in the 1400 block of Echo Park Avenue. They join Office 42 Architecture and Terremoto with offices on the avenue.
That’s it for this issue of Real Estate Monday. We will be back next Monday.
— Barry Lank & Jesus Sanchez
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Real Estate Monday
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