Real Estate Monday Cover




Eastside Real Estate & Development News

A round up the latest real estate news.

Northeast LA

Small, prefabricated housing units are being proposed for Eagle Rock and Highland Park, the Boulevard Sentinel reported. CD 14 Councilmember Kevin de León has filed a motion to place “pallet shelters” in the city-owned parking lot at 7541 N. Figueroa St. in Eagle Rock, and an unused portion of Arroyo Drive near S. Avenue 64 and the 110 Freeway. De Leon’s motion is currently in the city council’s homelessness committee. The N. Figueroa lot already has a homeless encampment with about 13 tents, the Sentinel said.

The new Taylor Yard Bridge just received its first coat of paint – a striking shade of orange – and is about 75{28ab41d673507bfe0daf970418d2e81f9476b3e139564442359ad7402c370b16} done, The Eastsider reported. Built by the city of L.A.’s Bureau of Engineering, the 400-foot-long pedestrian bridge is scheduled to be complete in June, when it will connect Elysian Valley and Cypress Park. According to an estimate from last year, the price tag on the bridge is $18 million, paid for by Metro. The original estimate in 2014 was between $5.3 million and $8 million. The increase has been blamed on rising construction costs rather than any changes in design.


Garvanza

Urbanize has renderings for a proposed mixed-use apartment complex near Figueroa Street and York Boulevard. The project involves replacing a surface parking lot at the southwest corner of Avenue 64 and Garvanza Avenue with a new three-story building that would have 33 studio, four-, and five-bedroom apartments above 2,000 square feet of ground-floor retail space.


Highland Park

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Plans have been submitted to replace two multifamily residential buildings at 511-517 N. Avenue 50 with 10 single-family dwellings, Urbanize reported. The site currently holds seven units. The plans have just gone before the Historic Highland Park Neighborhood Council’s Land Use Committee.


Echo Park

A six-story, 46-unit apartment building is being proposed for the 1400 block of W. Court Street, across the street from the Echo Park indoor pool. The 12,000-square-foot site running from 1411 to 1415 W. Court St. currently contains mostly single-unit residence and at lease one duplex – with one structure dating back to 1895. All these properties came into the hands of new owners in July and September, 2019, for a total of approximately $2.1 million. The applicant for the change is listed as Lawrence S. Bond, with Bond Companies.


Los Feliz

Actress Kristen Stewart (“Charlie’s Angels,” “Underwater”) has bought a 1920s estate for exactly $6 million, Dirt reported. The 4-bedroom/5.5-bathroom Mediterranean Revival-style home on Nottingham Avenue is just one of Stewart’s properties – along with at least three other multimillion-dollar homes across the country, and a multi-family investment complex in Pasadena. Before this, the home last sold in 2010 for just $2.9 million. Fashion designer Jerry Lorenzo lives next door, and comedian Bill Burr lives almost directly across the street.


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— Barry Lank