Real Estate Monday Collage

Eastside Real Estate & Development News

There are more affordable apartments coming to East L.A. and Cypress Park. The feds are chipping in some money to develop a river park. And Silver Lake's latest new housing development is nearly complete. Read on for details.

Cypress Park

At the Taylor Yard Transit Village, $2.5 million in federal funding has been lined up for a proposed affordable housing development, Urbanize reported. Parque Vista at 2851 Chaucer Street, is to have five three-story buildings containing a total of 42 apartments, all reserved for families earning between 30 and 60 percent of the area median income.


East Los Angeles

Site preparation has begun for El Nuevo Amanecer Apartments at the corner of 1st Street and Rowan Avenue - a 4-story affordable mixed-use development that’s slated to have 61 residential units and 10,000 square feet of ground-floor retail space, according to Urbanize. It will be priced for households earning at or below 30 and 50 percent of the area median income, with rents ranging from $545 to $1,260 per month. It is not clear when the project is scheduled to finish.


Glassell Park

Federal officials announced a $500,000 grant to help start cleaning up a former rail yard and turn it into parkland, according to The Eastsider. The half-million dollar grant is a fraction of the estimated $120 million that will be needed just to clean up the toxins from the site of the 42-acre Taylor Yards River Park on the border of Cypress Park and Glassell Park. The money from the Environmental Protection Agency is one of the many funding sources the city is try to tap into to pay for the clean up and development of the park that will be years in the making. 

Also at the Taylor Yard Transit Village, $2.5 million in federal funding has been lined up for a proposed affordable housing development, Urbanize reported. Parque Vista at 2851 Chaucer Street, is to have five three-story buildings containing a total of 42 apartments, all reserved for families earning between 30 and 60 percent of the area median income.


Silver Lake

A development of eight small-lot homes at at 853 Hyperion Ave. is almost complete, according to Urbanize. Each home has three bedrooms, a 2-car garage and a rooftop deck.


On the Market

New Listings From Eastsider Sponsors

Bright + Light Bungalow in East L.A.


All Signs Point to New Homes in Echo Park


Revitalized English Cottage in Atwater Village!


Stunning Spanish Colonial Revival Home in Eagle Rock

An extraordinary modern home in the heart of Los Angeles

Live in the heart of Atwater Village in this thoughtfully reimagined Spanish bungalow with attached guest unit

 

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

— Barry Lank & Jesús Sanchez

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