Real Estate Monday Collage

Eastside Real Estate & Development News

L.A. River activists have lined up against a giant Glassell Park housing project. A new developer is taking over a 78-unit East L.A. affordable housing project. And at least five Silver Lake homes have sold for more than $3 million so far this year.

Read on for details!

Atwater Village

Ten small-lot homes are almost finished near the Glendale Transportation Center, according to Urbanize. The new development on at 3545 Casitas Avenue is called Atwater Union, and is due for completion before the end of autumn. The residences are a mix of 2- and 3-bedroom houses, each of them three stories with a garage and a rooftop deck.

Boyle Heights

Demolition has started at L.A. County + USC Medical Center's Women's and Children's Hospital, clearing the way for construction of a new healthcare campus designed for homeless patients, Urbanize reports. The upcoming LAC + USC Medical Center Restorative Care Village on the southeast corner of Mission Road and Zonal Avenue, will include on-site housing, psychiatric medical support, and job training programs.

Construction on an affordable housing complex across from Mariachi Plaza began last week, and Curbed interviews the developer, Vanessa Delgado, who grew up in Boyle Heights, and who named this project La Guadalupe, after her grandmother Guadalupe Arevalos. The 44-unit complex at Boyle Street and First Avenue is due to open in 2021.

Eagle Rock

Construction has been completed on 10 small-lot homes at 4490 Lincoln Avenue. Each unit in the new South York development has three bedrooms and 1,800-square-feet. Sales prices start at $829,000, according to Tracy Do, who is marketing the property.

East L.A.

A new developer has been brought in for the County's plan to build affordable housing near the Gold Line, Urbanize has reported. National CORE, a non-profit developer based in Rancho Cucamonga, has proposed building 78 affordable housing units by the intersection of 3rd Street and Dangler Avenue. Units would be priced for households earning at or below 30, 50, 60, and 80 percent of the area median income, plus one manager's unit. The development agreement with the County's old partner - Azure Development - was terminated earlier this year after Azure failed to buy the adjoining land.

Echo Park

A developer wants to construct a 69-unit multifamily complex on an empty lot near the Echo Park Deep Poolreports The Eastsider. The project is one of several on the south end of the neighborhood that are bringing hundreds of residential units to the area south of Temple and west of Vista Hermosa Park.

The L.A. Times paid a visit to the Craftsman home on Laveta Terrance that's been turned into a shrine to Touko Laaksonen, aka Tom of Finland. The artist, known for his homoerotic drawings of beefy, leather-clad men, lived at the home during the last years of his life. It's now a city historic cultural monument.

Glassell Park

A developer wants to build a major housing project along the L.A. River bordering Glassell Park and Atwater Village.  But the project is hitting a bank of opposition from many neighbors, as well as the Friends of the Los Angeles River and the Natural Resources Defense Council, according to the L.A. Times. Set along seven acres near the 2 Freeway, Casitas Lofts would consist of 419 units of mostly upscale apartments, with offices and restaurants. That would put it near Rio de Los Angeles State Park and Taylor Yard. "Over my dead body will we see 419 apartment units go up at the entrance to a state park we fought so long and hard for," said Julia Meltzer - founder of Clockshop, a nonprofit arts organization in a nearby Elysian Valley neighborhood - told the Times. But Councilman Gil Cedillo, whose district includes this property, said, "A developer is coming forward with a plan to build colorful and bright new housing, clean up soil on the lot and improve public access to an adjacent state park at no cost to the city."

Historic Filipinotown

Plans have been filed for a 6-story, 42-unit mixed-use building on the 2800 block of W Temple Street. Addresses for the project site run from 2812 through 2818. Environmental clearance has been given to remove the currently existing structures. A rendering of the project is available on the web site of Schon Tepler Group, a partner from which - Paul Schon - is listed as the project applicant.

Silver Lake

A home that Leonardo DiCaprio sold less than a year ago has already been sold again, at more than twice last year’s price, according to the L.A. Times. DiCaprio sold the Spanish-style hacienda last December for $1.55 million, after it had been used by a family member. The 4-bedroom/6-bathroom home was then remodeled, and has just sold for $3.4 million — which is also $250,000 over the asking price.

DiCaprio's former house is also one of five Silver Lake homes that have sold for more than $3 million this year -- an unusually high number for Silver Lake at that price.

On the Market

New Listings From Eastsider Sponsors

All Signs Point to Homes in Eagle Rock and Echo Park

A Tudor home in Atwater Village

Architecturally Designed Echo Park Craftsman

That’s it for this issue of Real Estate Monday.

— Barry Lank & Jesús Sanchez

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