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204-unit Echo Park project heads for Planning Commission; building a better small-lot home; celebrity real estate sales

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.

Read on!

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.

Eagle Rock

Rendering of Eagle Rock Boulevard project | Courtesy Rachel Allen Architecture

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 That information, however, is no longer valid and is being updated.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.

Echo Park

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.

Highland Park

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.

Los Feliz

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

Silver Lake

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

Dreamy Homes in Highland Park, Mt. Washington and Silver Lake from Tracy Do

Grand Spanish Estate in Adams Hill and a Secluded Oasis in Atwater Village by Courtney + Kurt Real Estate Team

RiverPark’s Great Location to Become Even More Convenient for Commuters

For Lease: Spacious Highland Park Craftsman

For Sale: 1930 Spanish Duplex in Silver Lake

Insider

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

Real Estate Monday
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3 comments

  1. Hey you guys should talk about the fire back on January 7th at the Philippine Village too. Not weird at all!

  2. Re the 204-unit building, so they are kicking out tenants living at the location now – story doesn’t say how many — and building 204 units. Only a meager 15 of those will be considered “affordable.” The other 189 units are not affordable to most people in Los Angeles.

    And, they are evicting people from lower priced housing, sending them out to a housing market that they cant afford, so it is a very serous possibility they might join the ranks of the homeless.

    With city policies like this — and this approach as been the case ever since we got the new crop of politicians taking over City Hall at the turn of the century — is it at all surprising that the homeless population has and continues to be skyrocketing?!

    We don’t have a shortage of overpriced housing, but that is the only thing anyone will build. Those 15 units of affordable housing — and most people would not consider the price the city calls affordable to be the least bit affordable — represent only 7% of the units built.

    Those numbers should be reversed, 93% of all projects all over Los Angeles should be required to be affordable, and 7% can be for the rich, as the population of the rich is closer to 7% than is that of those in the “affordable” range.

    This is what the city policies call for, about 8% of units for affordable housing, which is not low-priced housing, and 92% for the wealthy. The city will even give a density bonus for that! They get to build more units than the zoning would allow, and so make more money, if they make such a meager number affordable.

    And then the politicians go out claiming to be building lots of housing for the average joe. This is Garcetti’s idea of how to solve the homeless issue, which he of all at City Hall has been in the forefront of creating since he was first election tote Council, to build evermore housing for the wealthy.

    If you look into all the policies coming out of City Hall, in the details if not on the surface, they all come down to catering to the wealthy and the rest can fend for themselves. They then decry the number of homeless, yet keep letting people in lower priced housing be evicted in order to tear the places down and build housing for the rich. They call it “gentrification.” We don’t need gentrification, we need housing for the people who are actually here now, not for other people we keep doing everything we possibly can to attract to move here, apparently because we don’t like the people here now.

    They just kicked out 99 studio apartments (one room apartments), that is the less expensive housing, on Santa Monica Blvd near Manzanita St in Sunset Junction, in order to turn it into a pricey hotel! A pricey hotel is now more important to have than 99 units of lower priced housing! You can bet many, maybe even most, of those 99 units of people couldn’t afford anywhere to go in this market — it is not the least bit surprising that the homeless population has been skyrocketing. And it is clearly the fault of the current crop of politicians and the polices they have put through.

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