Eastside Real Estate & Development News
A Silver Lake Spanish on Moreno Drive was purchased by Olivia Wilde and Jason Sudeikis. The Planning Commission is going to review a six-story apartment building while the City Council will take up a proposed affordable housing project in Echo Park.
Read on for details!
The City Council is scheduled to vote on Wednesday whether or not to seek proposals from developers to build between 54 and nearly 100 units of affordable housing with social services on an outdoor recreation area. But the proposal by Councilman Mitch O'Farrell is opposed by El Centro del Pueblo, a social service agency that runs the recreation yard. El Centro says the project would undermine its programs for at-risk youth. But O'Farrell says the city-owned property can accommodate both housing and some recreational uses.
A 53,670-square-foot warehouse on West San Fernando Road is to be replaced by a five-story 370-unit apartment building, under a plan going before the city Planning Commission on Thursday. On a site measuring about five acres along 2900-2910 West San Fernando Road, the new residential development would include 58,866 square feet of open space, 1,914 square feet of co-work space, and 597 parking stalls in a seven-story parking structure. Thirty-one of the residential units would be for very low income households.
Celebrity couple Olivia Wilde and Jason Sudeikis have paid about $3.5 million for a 4-bedroom home in the hills, nearly $150,000 above the asking price, Variety reported. Built in 1929 from a design by Frankie Faulkner (one of the city's first female architects), the 2,800-square-foot Spanish-style home has a view of the Silver Lake Reservoir. Wilde is best know for her roles in “House” and “Vinyl,” and Sudeikis is a "Saturday Night Live" alumnus with a lengthy list of TV and movie credits over the last five years. Variety notes the actors also have a mansion-sized house in Brooklyn.
A proposal for building a 39-unit, mixed-use development on 2775 West Rowena Avenue is going up before the city Planning Commission on Thursday. The six-story building would have 1,887 square feet of ground-floor commercial space, and would have frontage along the east side of Rokeby Street, as well as the north side of Rowena. Residences would include 32 one-bedroom units, and seven two-bedroom units - with four of the 39 units set aside for very low income households. Construction would involve demolishing two existing buildings on the site.
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That’s it for this issue of Real Estate Monday.
— Barry Lank & Jesús Sanchez