Eastside Real Estate & Development News
The owner of a landmark Echo Park restaurant has sold the property for real estate development. A proposed affordable housing project makes progress at City Hall despite opposition. And a developer will break ground this week on a large El Sereno apartment complex.
Read on for details!
The owner of the landmark Taix French Restaurant in Echo Park has sold the property to a developer for a large housing and commercial project that will include room for a smaller version of the city's oldest French restaurant, The Eastsider reported. Holland Partner Group plans to build a six-story complex with 170 units of housing (some of it reserved for low-income residents) and 13,000-square-feet of ground floor retail space on the site of the Sunset Boulevard restaurant, said Mike Taix and an official from the developer. There would be parking for 220 vehicles. Some of the sprawling restaurant's most visible sections, including its bar and lounge, porte cochere and neon signage, would be preserved and included in the new development.
A controversial proposal to build affordable housing on a recreation yard continued to move ahead at City Hall. The City Council's Homelessness and Poverty Committee endorsed Councilman Mitch O'Farrell's proposal, which now heads to the full City Council for a vote. Opponents vowed to keep up the fight, wrote L.A. Times reporter Emily Alpert Reyes.
One of the largest new apartment complexes to be built in the neighborhood in several years is having a groundbreaking ceremony on August 29, The Eastsider reported. The 85-unit Rosa de Castilla Apartments for homeless veterans and other low-income residents will be built on the site of a former market at 4208 Huntington Drive South near Soto Street. The $49 million development will include 49 units and services for homeless veterans, 14 units of general permanent supportive housing, and 20 units for low-income families and units for apartment managers. The 4-story building will also include 68 parking spaces, 2,500 square feet of commercial ground floor retail, a community garden and other amenities.
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That’s it for this issue of Real Estate Monday.
— Barry Lank & Jesús Sanchez