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Friday, Apr 26, 2024

NoHo 14 Starts Leasing but Another JSM Project Falters

The NoHo 14 apartment tower has signed its first leases although the marketing program has not yet been fully implemented. The building’s leasing manager, Tom Meredith, said that owner JSM was really having more of a “soft opening,” for now in part because some construction work is still being finished up. “We do have our certificate of occupancy,” said Meredith, “and four tenants are moving in as we speak.” Another three applications are in process, he added. During an impromptu visit to the tower on Veterans Day, the Business Journal spoke with a group of four men who were just leaving the building, with marketing materials in hand. Anthony Jones of Tarzana was with friends Jason, Ray and Harrison, all of whom previously lived in the neighborhood. “We looked at it when it was condos,” said Jones, who sold his one bedroom condominium nearby for $180,000 in 2003. The four wanted to see what had changed since the building’s conversion to for-rent status was completed. “They wouldn’t show us the apartments,” said Jones, who was visibly frustrated. “We were told we needed to make an appointment first.” Others who have attempted to drop-in report receiving a similar response. On this day, though, it turned out that in addition to the receptionist, a leasing consultant and Meredith, the leasing manager, were onsite at the time of the request. And once it was revealed that a reporter was interested in the project, a tour was offered to both the reporter and the still-waiting Jones and friends. Meredith apologized to the visitors for “any miscommunication,” about viewing the apartments. He explained that the company was short-staffed and that the consultant who was scheduled to do the showings that day was on her lunch break. The opening of the tower has been delayed for three years what with the condo to apartment switch and all that entailed. In August, Meredith responded to an inquiry about the status of leasing with an e-mail that said, “We are very near opening; just a few last minor construction items need to be addressed,” very nearly the exact same response he gave on Nov. 4. The NoHo 14 website similarly does not offer much information, announcing only that the project “is coming soon,” and leasing inquiries are being accepted. When asked about the rents being asked units in the building start at $2,300 a month for an 850-square-foot one-bedroom Jones said he felt they were “extremely high for this area.” Indeed, one can rent a luxury apartment at the Americana at Brand in Glendale for about the same price, while similarly sized units in other NoHo apartments developed and built by JSM start at about $1,600. Another JSM apartment building under construction just a few blocks away is also experiencing challenges. The Gangi apartment building, as the project at 5241 Vineland Boulevard is identified on the company’s website, is approximately 75 percent complete, according to Raul Rodriguez, project engineer. To his knowledge, it is “sort of on hold,” he said, pending the receipt of additional funding. Calls to JSM executives Craig Jones and David French were not returned, and no one was available to talk when a visit was paid to the JSM corporate headquarters on Nov. 4. Burbank-based Gangi Development is not affiliated with the Vineland project in any way, said President Frank Gangi. Three other apartments named Milano, Imperia and Ticino all on the same block or just adjacent, were all built by JSM Construction, but are now owned by Prudential Real Estate and managed by Alliance Residential Company.

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