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Thursday, May 19, 2022

Four-Level Proposed for Lake Balboa

 A mixed-use residential project has been proposed for Lake Balboa.The four-story apartment building, which will house 39 one- and two-bedroom units, would rise on a nearly half-acre property at 17630 Sherman Way, east of White Oak Avenue.The residences, to include five low-income dwellings, would be supported by 5,822 square feet of ground-floor retail and semi-subterranean parking accommodating roughly 70 vehicles.Construction will call for razing an existing auto repair garage at the address and replacing it with the contemporary low-rise complex, which will also feature a ground-floor recreation room and a pair of outdoor decks in the rear of the complex.Tarzana-based investor Hany Malek will develop the property, which he purchased earlier this year for $2.6 million.The project is envisioned by Woodland Hills-based Kamran Tabrizi Architect & Associates, the design studio currently working on a mixed-use residential complex at 13274 Victory Blvd. in Van Nuys and the 432-unit apartment building for Lankershim Boulevard and Strathern Avenue in Sun Valley that was proposed in November.Lake Balboa has seen a paucity of development in 2020. The only other notable residential project now in the works in the community is Sophie Court, a collection of nine four- and five-bedroom single-family dwellings planned for a parcel a half mile west of Van Nuys Airport.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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