Eastside Real Estate & Development News
A round up the latest real estate news.
Million-dollar homes have become the norm in various neighborhoods across the Eastside, according to The Eastsider and the L.A. Times. That includes Silver Lake, Atwater Village, Eagle Rock, and Echo Park. Nor will a mere million purchase anything grand in these neighborhoods. In a recent search of the 90039 Zip Code, sales of less than $1.2 million mostly got home under 2,000 square-feet. Only a couple of structures - in northern Atwater - just barely topped 3,000. The Times has blamed the pandemic economy.
New state legislation could help transform Boyle Heights - but will it be an improvement, Spectrum News asked. A pair of state laws - SB 9 and SB 10 - makes it easier for single-family residences in urban areas near transit lines to build up to 10 units on that same plot of land. On the one hand, businessman Jesus Ornelas told Spectrum the current demand requires more housing. On the other side, Neighborhood Councilmember David Silvas predicted a future of congestion and displacement.
An eldercare facility is set to replace the Eagle Rock Church of the Nazarene along the 4900 block of Eagle Rock Boulevard. The Boulevard Sentinel reports that the Los Angeles City Planning department has approved the plan, and construction permits must now be secured from the L.A. Department of Building and Safety. The new facility will have two five-story, 62-foot-high buildings, with nearly 80,000 square feet of space for 109 guest rooms. Like the outgoing Church of the Nazarene, the facility will cover most of Eagle Rock Boulevard's east-side frontage from Yosemite Drive to Fair Park Avenue - and the existing barber shop along that block looks like it will still remain in place between the two buildings.
East Los Angeles
Construction is scheduled to begin this week on 78 units of affordable and permanent supportive housing at 3rd St. and Dangler Avenue, according to a statement from National Community Renaissance - or National CORE - the nonprofit housing developer behind the project. The building site has sat vacant for decades, National CORE said. Groundbreaking ceremonies are to take place Thursday at 11 am. The complex will have 20 studios, 49 one-bedrooms, and eight two-bedrooms, each affordable to households earning under 60 percent of the area median income. Half of the units will be reserved as permanent supportive housing for formerly homeless people.
Barlow Respiratory Hospital has released a rendering of the new skilled nursing facility that it plans to build on the south end of the hospital’s Stadium Way campus. The four-story, 59.5-foot-high building would accommodate 150 beds. Although the Barlow campus is listed as a Historic-Cultural monument - No. 504 - one of its structures would be demolished in the course of construction. “The proposed facility will fill a void to become the only skilled nursing facility to serve the downtown Los Angeles area and will ensure uninterrupted continuum of care,” the hospital has said in a statement.
The buyer of the eccentric Van Pelt houses turned out to be Frank Dukes, the producer behind Camila Cabello's "Havana," as well as music by Post Malone and The Weeknd, among many others, according to Dirt. As The Eastsider previously reported, the set of five storybook-type houses on Lyric Avenue sold for nearly $6.5 million early last March, after having been on the market since the previous July. Owned originally by John Van Pelt, a famous music professor and arranger of sacred choral music, the five cottages look like something out of a fairy tale, and each has a slightly fantastical name: Whimsy Hall, Windjammer Cottage, Sea Rover Cottage, Sea Horse Lodge, and Star Sailor Manor. An application has been filed to declare this estate s historical-cultural monument.
The Lovell Health House on Dundee Drive - a 5-bedroom modernist creation by architect Richard Neutra - has sold for $8.75 million, Dirt reported. This turns out to be a sharp discount from the original asking price, which was initially a secret but turned out to have been $11.5 million. The buyers are "art-world potentates" Iwan and Manuela Wirth, who plan some sort of renovation, according to the New Yorker. The home, the New Yorker added, is somewhat weathered, and is in need of restoration. Listed in the National Register of Historic Places and among L.A.'s Historic-Cultural Monuments (No. 123), the light-filled hillside behemoth was completed 1929 for Dr. Philip Lovell, a somewhat odd-ball health columnist for the Los Angeles Times, the New Yorker said.