Eastside Real Estate & Development News
Permits have been granted for a pair of Boyle Heights apartment buildings. Groundwork is now underway for the 202-unit City Lights project in Los Feliz. And an Elysian Heights home designed by pioneering Chinese-American architect Gilbert Leong sold for $1.135 million.
Read on for details!
A permit has been issued to build an 18-unit apartment building at 1612 E Pleasant Ave., where the demolition of a duplex was approved last spring. The new building is to be three stories tall, 157'11" x 35'11”. Three of the units are to be set aside for extremely low income families, with the remaining 15 units being non-restricted.
Construction has been approved for a new three-story, 10-unit apartment building at 2450 E. Houston St., with two units set aside for low-income renters. A single family residence was leveled on that site no later than 2016.
An Elysian Heights home designed by Gilbert Leong sold for around 21% above the asking price, according to Redfin. Listed for $932,919, the Streamline Moderne /Asian inspired two-bedroom received $1,135,000 - more than $200,000 above asking. The designer, Leong, designed buildings throughout Los Angeles, including Chinatown’s Baptist and Methodist churches, a branch of Bank of America and the Kong Chow Family Assn., according to the L.A. Times.
A condo association is appealing a decision approve a height increase for a 15-unit apartment building on a hillside across from Echo Park lake. The project at Glendale Boulevard and Montrose Street asked for the height increase by setting aside one of the units for a very low income household for a period of 55 years. The planning staff gave a positive recommendation, which is now being appealed by Cody Briggs and the Montrose Condos Homeowners' Association. The appellants have raised technical objections, such as the way the height increase was calculated improperly, and the way the height increase should have increased the set-back. They have also cited environmental and geological issues. The City Planning Commission is deciding on the matter Thursday.
Subterranean pillars and walls are going up at the huge the City Lights project at Hillhurst Avenue and Hollywood Boulevard. When last reported in February, the ground had been cleared for the project, with the blacktop being plowed up after the old Auto Zone at the southeastern corner of the plot had been torn down. The residential complex is designed to have 202 units, with 14,725 square feet of ground-floor retail space and 372 parking spaces.
That’s it for this issue of Real Estate Monday.
— Barry Lank & Jesús Sanchez