Eastside Real Estate & Development News
A round up the latest real estate news.
The McKee General Contractor Branch Office on San Fernando Road and Goodwin Avenue is being considered as a possible historic cultural monument. A staff report from the city's Department of Planning stated the buildings at 4701 San Fernando Rd. and 4101 Goodwin Ave. exemplify significant contributions to the broad cultural, economic or social history of the city because of their association with the Robert E. McKee General Contractor, Inc., "a national construction firm that contributed greatly to the development of Los Angeles in the 20th century." McKee was the main contractor behind City National Plaza on S. Flower Street, and the Googie Theme Building at the Los Angeles International Airport.
The last of the neighborhood's long-time Japanese restaurants, along with everything else on the same lot, has been nominated as a historic-cultural monument, The Eastsider reported. An application for monument status has been filed for the commercial building at 2504-2506 1/2 E. First St., as well as the Queen Anne-style residence in the back of that lot, at 2508 East First St. Otomisan Japanese Restaurant, a small diner-like operation that serves up everything from chicken teriyaki to salmon sushi to salmon sashimi, occupies one of three storefronts. The monument application says the property is historically significant "for its association with early Japanese American settlement patterns in Boyle Heights" and for its association with "commercial development along the East First Street streetcar line in the 1920s.”
A 318-unit residential complex has begun leasing, with move-ins slated for January. The Lewellyn - located across the street from the Los Angeles State Historic Park, on the eastern edge of Chinatown - spans a full city block, and offers studios starting at $2,125, one-bedrooms at $2,375, and two-bedrooms at $3,250.
The application to make the Jennie C. Brayton Building a historic cultural monument is going before the City Council's Planning and Land Use Management Committee on October 29. The two-story mixed-use building at 5119 Eagle Rock Blvd. was constructed in 1923 for Jennie C. Brayton, an Eagle Rock artist and real estate developer in the early 20th Century. Survey L.A. called this building an "excellent example of early commercial development located along a former streetcar line in Eagle Rock; one of few examples remaining from this period."
After a solid decade of on-and-off construction - mostly off - the new Target discount store at Sunset Boulevard and Western Avenue is finally letting in customers, The Eastsider reported. The giant store at 5500 Sunset Boulevard was approved by the City Council in 2010 - back when Barack Obama was halfway through his first term and Larry King was still on CNN. The project was delayed by the La Mirada Neighborhood Association, which sued the city twice for allowing the structure to be 74 feet tall where buildings were supposed to be kept to 35 feet. The completed 150,000-square-foot store carries apparel, home decor, personal care products, and groceries including alcohol and fresh produce.
Documents have been submitted for a four-story, 20-unit apartment building proposed for 923-923 1/2 Ardmore Blvd. The developer is asking to reduce the side yard by 20%, reduce the open space by 20% and raise the height limit by 11 feet.
Plans have been filed for a 176-unit apartment complex at 2217-2235 W. Sunset Blvd. This is much same location as a proposal from around 10 years ago, which never ended up coming to fruition. The Real Deal reports that the latest project has been filed by Cypress Equity Investments, which worked along with TriWest Development to buy the properties in February, for $17.6 million. The company is pitching this as a Transit Oriented Community project, a designation that allows for exceeding density limits under existing zoning in exchange for reserving a percentage of units for low-income renters.
Ludwig Goransson - whose credits include composing the soundtrack for the movie "Black Panther," and co-writing with Donald Glover on "This is America" - has bought a gated mansion in the hills for $6.6 million, Variety reports. The 93-year-old Spanish Colonial Revival home has six bedrooms and nine bathrooms. Goransson's old home is less than a mile away - a three-bedroom/three-bathroom that was purchased in 2013 for $1.4 million.
Saturday Night Live alumnus Chris Parnell has listed his three-bedroom/two-bathroom Spanish Revival-style home for just under $2.7 million, Variety reports. He bought it in 2013 for $1.7 million. He already bought his new home in Silver Lake last July for almost $3.4 million - a rehabilitated four-bedroom/three bathroom that he picked up for almost $3.4 million.
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That’s it for this issue of Real Estate Monday.
— Barry Lank