Development WELCOME HOME

While the city moves forward with plans for a $50-million redesign of Pershing Square, a property across the street is lining up for an even more aggressive makeover. Last week, JMF Development Co. filed plans with the City of Los Angeles to construct a mixed-use complex at northeast corner of 5th and Hill Streets. The project, as described in a case filing from the Department of City Planning, would consist of a 55-to-57-story building which could move forward under two alternate schemes.

Crown Realty & Development, in conjunction with Dallas, Texas-based CAPREF Manager, LLC have reached an agreement to redevelop the Burbank Town Center. The proposed development is highlighted by a large multifamily residential component, consisting of 765 rental units at 600 N. San Fernando Boulevard as well as 70 for-sale homes at 800 N. San Fernando Boulevard. The residential community would make use of a property formerly occupied by IKEA, which has relocated to a larger replacement store elsewhere in Burbank.

Four years after the completion of the Expo Line, a full city block near LATTC/Ortho Institute Station could be reborn as a mixed-use, transit-oriented development. The property - bounded by Figueroa, Flower, 22nd and 23rd Streets - is being reinvisioned as 2222 Figueroa, a collection of rental and for-sale housing above pedestrian-oriented commercial space. The project, which was filed with the City of Los Angeles earlier today, would be highlighted by 1,063 residential units - including 645 condominiums, 364 market rate apartments and 5% low income housing.

Los Angeles Business Journal reports that real estate firm Veneto Capital Management is bringing upgrades to a rundown retail complex near Echo Park. The 23,000-square-foot property, located at Glendale Avenue and Court Street, features a two small commercial buildings which date to 1921. Beverly Hills-based Veneto has already begun stripping away contemporary modifications to the one-story structures, revealing their original brick facades and bow-truss ceilings. The project, which is being called Echo Park Village, will become the second outpost of Clark Street Bread, a local bakery which has already established its presence at Grand Central Market in Downtown Los Angeles.

ULI Los Angeles, a District Council of the Urban Land Institute (ULI), presents Transit Oriented Los Angeles 2016: Planning for Transit, Tuesday, October 4, 7:30 a.m.-noon,at Japanese American National Museum, Downtown Los Angeles. This year’s ToLA event will feature leaders in the transportation, planning and development community offering the latest tools, opportunities and case studies. Speakers include City of Los Angeles Planning Director Vince Bertoni and L.A. Metro Chief Planning Officer Therese McMillan in a keynote conversation.

Hollywood’s hotel boom continues, with yet another mid-rise project on deck. According to plans filed earlier today with the City of Los Angeles, an 11-story boutique inn is proposed for a .33-acre property at 1600 N Schrader Boulevard. The proposed 63,000-square-foot structure would offer 168 guest rooms, 4,000 square feet of ground-floor restaurant space and a roof terrace with seating capacity for 334 patrons. A three-level underground parking garage would sit beneath the building.

The longtime home of Ametron Electronics, located at Selma and Argyle Avenues, has often been discussed as a future development site. A Dallas-based apartment builder will now attempt to capitalize on the property’s potential. Earlier today, a subsidiary of Mill Creek Residential Trust filed plans with the City of Los Angeles to redevelop the Ametron property, which is located at 1546 N. Argyle Avenue. The project, which spans across approximately 1.1 acres of land, would consist of 276 residential units - including 13 for very low income households - in addition to just over 30,000 square feet of ground-floor retail space.

An image provided by architectural photographer Hunter Kerhart shows that exterior work is nearing completion for Lennar Corporation’s mixed-use development in Downtown Los Angeles. The project, designed by KTGY Group, consists of a six-story building at the southwest corner of Olympic and Olive Streets. When completed in 2017, the podium-style structure will offer 201 apartments and 4,000 square feet of retail space, seated above underground parking for 228 vehicles and 221 bicycles.

Unused federal earmark dollars could provide a potential windfall for pedestrian-safety enhancements throughout Los Angeles. Under the direction of the Los Angeles City Council, the Department of Transportation (LADOT) has compiled a list of pedestrian-safety improvements that could be implemented using roughly $4.4 million in unspent federal money from projects that were either cancelled, completed under budget or completed through alternate means. Through Metro’s Replacement Funding Program, the unused federal earmark dollars could be swapped for 97% local matching funds.

Take a first look at the high-rise complex planned at Wilshire/Normandie Station, courtesy of an environmental report published by the Los Angeles Department of City Planning. Jamison Services, Inc., the Koreatown-based firm behind the project, is planning for two towers at 3545 Wilshire Boulevard, featuring 428 residential units, approximately 32,000 square feet of ground-floor retail space and parking for 864 vehicles and 652 bicycles. Plans call for a mixture of studio, one-, two- and three-bedroom dwellings, as well as communal amenities such as a gym, a pool and landscaped courtyards.