Eastside Real Estate & Development News
In this issue of Real Estate Monday, permits have been issued to build housing on the site of the former Bob Baker Marionette Theater; a $10 million self-storage center is in the works for El Sereno and a new Temple Street apartment building is offering free rent and parking during pre-leasing. Read on for details!
The former home of the Bob Baker Marionette Theater is to become the site of a 102-unit apartment building. Five years after the project was first announced, permits have been issued for 1349 W 1st St., laying out plans call for five stories of apartments over two stories of lobby area, parking and 2900 square feet of retail space. Some of the historic theater building will be preserved, however, with the front portion of the theater and the adjacent "party" room and courtyard being incorporated into the new structure, according to Urbanize. The theater has resumed performances last summer at its new home in Highland Park.
A $2.8 million senior housing project has received permits for construction at 767 N Ave. 50. The three-story, 17-unit project requies the demolition of an existing home.
Pre-leasing has begun for a super-sized Temple Street development that began construction in 2016. Alexan Bahay (formerly named Alexan South Echo Park) is a complex of 200 apartments and nearly 22,000-square-feet of retail space spread over 1.7-acres, according to the original plans. The site at the 1900 block of Temple was once occupied by the Derby Dolls roller rink, and, way before that, an ice cream cone plant. The apartments will become available within the first quarter of this year, according to property manager Fabiola Mendez. Starting rents are expected to range from $2,130 for the cheapest studio apartments to $4,035 for the most expensive 2-bedroom units. But those who sign up during the pre-leasing period get eight weeks of free rent and six months of free parking, Mendez said. Brokers are also working to lease the ground floor retail space, but are not ready to announce who the tenants will be.
A new apartment building is to go up on 2828 W London St., across the street from Maury's Bagels, a wine shop and other new businesses. The new 16-unit building is to be two stories of residences over one ground-level floor of parking. Construction will require demolishing existing structures on London Street.
That’s it for this issue of Real Estate Monday.
— Barry Lank & Jesús Sanchez