In the San Fernando Valley real estate market, Valley Village has become a euphemism for high-end Van Nuys. Now, developer Ecto Homes intends to elevate Van Nuys proper with a new residential project with two dozen contemporary homes.Etco Homes’ Monroe at Hazeltine development entails 23 modern single-family homes spanning 2,000 square feet apiece, with average prices in the low $700,000.
There is also a 24th lot. Priced at $899,000, the 4-bedroom, 3-bath Leadwell residence is the exception — a contemporary home marked by a separate driveway with two-car garage, luxury furnishings, Caesarstone kitchen counters and Kevo Keyless front-entrance doors.“This seemed like a natural opportunity to build a special home because on the location it’s situated on a nice cul-de-sac,” said Etco Homes Principal and Chief Operating Officer Bob Etebar, who spoke with the Business Journal.Monroe at Hazeltine is located at 7327 Hazeltine Ave. while the nearby Leadwell house stands at 14126 Leadwell St. in Van Nuys.Construction began on the project in mid-2019 and was completed last month after a few scheduling setbacks that have become all too common during the COVID period.“Like most builders, we experienced some delay while getting adjusted to all of the protocols,” Etebar said.Nevertheless, the subdivision, now complete, represents Etco Homes’ rare foray into the Valley. The 1989-founded, Beverly Hills-based developer has been creating such residential oases as the 78-home Ambassador Gardens lots in Pasadena, where 18 Mediterranean-style townhouses dubbed The Villa and 60 single-family homes called The Terrace were completed in 2018 and 2019, respectively; the 77-condo Ato in downtown Los Angeles; the 77-condo Melrose Collection in West Hollywood; and the 55-home One Coast community in Pacific Palisades, currently under construction.Etebar said that Monroe at Hazeltine, where sales began in the spring, targets such residents as local entertainment professionals working in Burbank and North Hollywood. The approach appears to be working as Etebar said that 65 percent of the homes have sold, with seven more to go.“We’ve enjoyed developing in this community,” Etebar said. “We feel that it’s a great fit for the area.”Etebar added that the homes have been well-received.“We’re excited that we can deliver something that was under a $1 million price point,” he said.