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New Wave

Village at Calabasas 23500 Park Sorrento, Calabasas Developer: New Home Co., Aliso Viejo Cost: $50 million Project: New Home to tear down the decades-old Calabasas Inn to build the 220,468 square-foot development. It will feature a mix of one- and two-bedroom condos, in addition to eight low-income apartments built above 10,000 square feet of retail. The site is near the city’s downtown shopping district. Status: Approved. Tear down of the Inn expected in spring or summer of 2014. Completion spring 2015. Cielo at Villa Metro 21853 Soledad Canyon Road, Valencia Developer: New Home Co., Aliso Viejo Cost: $70 million, including single-family home development Project: The project features 22 live/work units, attached to a larger development of 315 homes. The live-work units are townhomes up to four bedrooms and three bathrooms. The live-work area of each unit is about 400 square-feet and has entrance from the street, allowing owner to operate a storefront. The project is next to the Santa Clarita Metrolink station for easy commuting. Status: Partially open amid continuing construction. Citi Live/Work Community Corner of Lexington Drive and Central Avenue, Glendale Developer: Amidi Group, Redwood City Cost: Not disclosed. Project: Amidi is in the process of purchasing an entire city block from Citigroup Inc. for its proposed project of 535 live-work units on 3.2 acres at Central Avenue and Lexington Drive. The development could total 600,000 square feet and include a Citibank branch. Amidi has plans for a pedestrian-friendly design that could include multiple paseos and a grand piazza. Status: Received initial approval. Il Villaggio Toscano 4827 N. Sepulveda Blvd., Sherman Oaks Developer: M. David Paul Associates, Santa Monica Cost: $132 million Details: The 605,000-square-foot project includes 325 units, 52,000 square-feet of retail and a 1,000-space parking garage with two levels underground. Toscano will have studios, one- and two-bedroom units, with rents ranging from $1,500 to $3,500. The units will surround a central courtyard, with gardens on top of a commercial podium, similar to space in front of the nearby Sherman Oaks Galleria. Status: Approved by the City Council in August, 10 years after first proposed. Construction expected to begin this year and take about 24 months to complete. Metro Art Sherman Oaks 14140 Moorpark St., Sherman Oaks Developer: BW Brody Affiliated Cos., Sherman Oaks Cost: Not Disclosed Project: The 113-unit mixed-use project is on 1.7 acres and its 16,500 square feet of retail fronts Ventura Boulevard. It opened this summer and is already more than 80 percent leased. Units include one- and two-bedroom apartments. Retail tenants include a Mendocino Farms sandwich shop and Islands Restaurant. Status: Opened June 15. Talaria at Burbank 3401 W. Olive Ave., Burbank Developer: Cusumano Real Estate Group, Burbank Cost: $150 million Project: The 241-unit project slated for a 3.8-acre site in the city’s Media District will include a 43,000 square foot Whole Foods market. It is close to the former NBC Studios, Warner Bros. lot and Walt Disney Co. headquarters. The proposal calls for one-, two-bedroom and three-bedroom units in a five-story, 385,000 square-foot building. Talaria would feature courtyards, a lap pool, private lounge, fitness center and dry-cleaning pickup service. Status: Proposed. Going through community meetings.

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