Eastside Real Estate & Development News
Welcome to a digest of Eastside real estate news, development and people. In this week’s issue:
Unincorporated areas of L.A. County now have temporary rent control – and that includes East Los Angeles. Meanwhile, an ad agency exec takes us on a tour of the literally and historically colorful Flamingo House he purchased in Eagle Rock. And the site of the old Philippine Village commercial center has now been cleared for new homes and retail space.
Real Estate Roundup
A small apartment building is being proposed near Hollenbeck Park, Urbanize reports. A plan for 731-733 S. Boyle Avenue is up before the L.A. Planning Commission, calling for construction of a five-unit, 1,792 square-foot, 56-foot-tall building. It also plans maintenance of an existing two-story, four-unit apartment building, which Urbanize says is more than 100 years old. Its current tenants are not to be displaced.
Richard Christiansen, founder of ad agency Chandelier Creative, takes us on an Instagram video tour of his newly renovated Flamingo Estate on Tipton Terrace. The New York Times has the full story on the Spanish-style, hilltop home, which has been the site of a pirate-radio station, a fanzine publishing company, a political fundraising team, and an erotic film company. It’s also a convenient commute for Christiansen, whose ad agency recently moved from Hollywood to Highland Park.
The site of a new development of small-lot homes at 4515 Eagle Rock Blvd. is being prepared for construction, according to Urbanize. The former site of Philippine Village is now to have 48 single-family homes with retail space on the street.
Construction is underway on a new affordable housing development at Hobart Boulevard and N. Serrano Avenue, says Urbanize The Coronel Apartments will have 54 units, priced for households making between 30% and 60% of the area median income. An existing pueblo-style residence from the 1920s is being kept on the property, but will have two residential units.
East Los Angeles
Temporary rent control has been approved for unincorporated sections of L.A. County, including East L.A., the L.A. Times reports. Supervisor Sheila Kuehl said the policy is meant to curb private equity firms from gobbling up apartments and jacking up the rent. Rent increases in East L.A. and other portions of unincorporated L.A. County will be capped at 3% annually during a six-month interim period. During that time officials will consider and draft permanent rent control rules.
Silver Lake businesswoman Dana Hollister has reached a deal that will save her millions of dollars after she lost a legal battle over a former Los Feliz convent, reports the Los Feliz Ledger. Late last year a jury said that Hollister should pay a total of $15 million to the Archdiocese of Los Angeles and Katy Perry for interfering with the sale of a hilltop religious property to the pop star. That prompted Hollister to file for bankruptcy protection. But under a settlement reached earlier this summer, Hollister will now pay $6.5 million plus interest in multiple payments through 2021.
On The Market
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That’s it for this issue of Real Estate Monday. We will be back next Monday.
— Barry Lank & Jesús Sanchez
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