Real Estate Monday Cover

Eastside Real Estate & Development News

A round up the latest real estate news.

Eagle Rock

A permit to serve beer and wine has been conditionally approved for the new Vidiots location on the 4800 block of Eagle Rock Boulevard. The former alternative video store did business in Santa Monica from 1985 to 2017. The Vidiots Foundation plans to reopen sometime next year at the former Eagle Theatre. Along with retail and theater spaces, the new Vidiots plans to have a social area.

East Hollywood

A five-story mixed-use building has been conditionally approved for 611-615 Virgil Ave. This means demolishing 6,505 square feet of current space and replacing it with 30 residential units.

East Los Angeles

A massive fire destroyed a five-story housing affordable housing complex under construction in at Rowan Avenue and First Street, The Eastsider reported. The East L.A. Community Corp., a nonprofit developer of affordable housing, broke ground on El Nuevo El Amanecer Apartments in June 2019.  The project, which was to have been completed by the end of the year, was to have 31 units of  permanent supportive housing for homeless veterans and 28 units for low-income families (two units were to be be occupied by managers). A male teenager was detained for questioning as a "person of interest" in connection with the fire investigation, according to the county fire department. 

Echo Park

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formal application has been filed to declare Taix restaurant a historic-cultural monument.  The Taix family sold the property to a development company last year. Plans to replace the old Taix building with a six-story complex of housing and retail hit a wall of criticism at a public meeting in June. Under the most recent plan on record, developers - the Holland Group  - would build 170 housing units and 13,000 square feet of retail commercial space - including 6,000 square feet for a new, scaled-down version of Taix restaurant. Taix restaurant began in a downtown location in 1927. They set up business at the current location in 1962. The building later underwent extensive renovation, according to restaurant owner Mike Taix. The bulk of the current restaurant dates back to 1969, while other parts date back to 1929.

Crowds may be still be barred from Dodger Stadium, but plans are still moving forward for a gondola between the stadium and Union Station. The company seeking to build the system has released details on two different possible routes, The Eastsider reported. Both alternatives would travel north from Union Station along Alameda and Spring Streets. Under the first alternative, it would reach an intermediate stop at the southeast side of Los Angeles State Historic Park, then cut northwest to Bishops Road and cross the 110 Freeway to the stadium. Under the second plan, the gondola would skim the northwest edge of the park to an intermediate station at North Broadway and Bishops Road, then travel east on Bishops Road to the stadium.

Glassell Park

A plan to develop four small-lot homes at 4232 N Verdugo Road has been terminated, due to inactivity on the application. The plan - which had been filed on Feb. 26, 2018 - had been to demolish an existing duplex and garage, and to develop four single-family dwellings, totaling 9366 square feet. 

Los Feliz

Why is this neighborhood such a hotspot for celebrity home sales? The Eastsider talks to real estate agents about why prominent figures in the entertainment industry buy and sell houses here so often. “Celebrities like Los Feliz because it’s a small town feel with history, privacy, and beauty," said Konstantine Valissarakos, one of the real estate agents who’ve held the listing for the producers behind Netflix's "Making a Murderer.”

Silver Lake

Actor and writer Anders Holm (or "Anders Holmvik," as he was called in the TV show Workaholics), has listed his 1920s English storybook Tudor for $2.1 million, Variety reported.  That's about 50% more than the $1.425 million tax he paid around seven-and-a-half years ago, Variety said. The hillside parcel features three bedrooms, 3.5 bathrooms and a T-shaped swimming pool.

“NCIS” star Barrett Foa has listed his 2-bedroom/3-bathroom architectural for just under $1.7 million, Variety reported. Foa bought the 2,100-square-foot property right after it was built in 2016, for around $1.4 million.

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

— Barry Lank

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