Eastside Real Estate & Development News
Comedy writer/producer Tim Long wants almost $4.5 million for his Los Feliz home. An affordable housing developer is seeking financing to build a 41-unit affordable housing complex in Eagle Rock. And officials will vote on whether to grant historic landmark status to a Silver Lake home designed by Harwell Hamilton Harris.
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Two industrial buildings by Los Angeles State Historic Park would be replaced by a live/work apartment complex, under plans submitted to the City of Los Angeles. The filing was first reported by Urbanize. The site at 1435-1465 N. Main Street would gain a 117,000-square-foot mixed-use project, with 243 live/work apartments and 66,618 square feet of non-residential floor area.
Ground was supposed to be broken last August for 41 units of permanent supportive housing along Colorado Boulevard, but a financial issue is still being worked out, according to Boulevard Sentinel. Colorado East - a five-story, $24 million project for 2451 Colorado Blvd. - has capped rents at 30% of a renter’s monthly income. So the project can’t support itself without subsidies. L.A. County will provide subsidies for 25 of the 26 one-bedroom apartments. But that leaves the 14 two-bedroom apartments - and that last one-bedroom - unsupported. Developers are hoping to fill that remaining gap with federal “Section 8” subsidies. If things work out, groundbreaking could take place in the first quarter of 2020.
Construction has topped off at a mixed-use apartment complex on Melrose Avenue, according to Urbanize. The six-story building at Melrose and Serrano Avenue is to have 51 apartments and 2,000 square feet of ground-floor retail space.
The Hawk House on North Silver Ridge Avenue is coming up for a vote this week become a Historic Cultural Monument. The city's Cultural Heritage Commission is voting on Thursday whether to recommend giving monument status to the 2-bedroom residence at 2421-2425 North Silver Ridge Avenue. The recommendation report from the Department of Planning said "the house served as the headquarters for the home goods company, Hawk House, established by the Hawks by 1948, which produced distinctive products such as barbeque-braziers, lamps, and ashtrays." The report also quotes SurveyLA, calling the property "an excellent example of an Early Modern residence designed by Harwell Hamilton Harris." The final decision on historic status rests with the City Council.
Producer and comedy writer Tim Long has listed his 4-bedroom/3.5 bath Colonial for almost $4.5 million, Variety has reported. The home was built in the early 1920s and has another bathroom in the poolside guesthouse. Long was once the head writer on “The David Letterman Show,” and won five Emmys writing-producing for "The Simpsons." Long and his wife Miranda Thompson (who co-wrote several episodes of "The Simpsons") bought the house about two-and-a-half years ago for nearly $3.7 million.
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That’s it for this issue of Real Estate Monday.
— Barry Lank & Jesús Sanchez