John Chiu and 12711 Branford Street (Credit: Google Maps) LAApartments.biz just made its second multifamily property purchase in a month. The online rental platform acquired a 100-unit development in the San Fernando Valley, according to property records. The Palms-based company purchased the Branford Villa Apartments in Pacoima for $23.5 million. It was acquired through its […]
Santa Monica prohibits market rate micro apartments
Santa Monica Mayor Gleam Davis and Santa Monica City Hall attached There’s no room in Santa Monica for any more micro units — at least for now. Market-rate apartments under 375 square feet are now permanently banned in the city of Santa Monica, though officials plan to address new housing models again later this year. […]
Big trouble at The Liddel: Carpet USA sues over unpaid work at luxury condo
Erin Anderson, development manager at Palisades Capital Partners and The Liddel on Wilshire Boulevard The floors at The Liddel luxury condo development in Westwood have long been covered, but Carpet USA says it is still owed for its work. The Inglewood-based company is suing the building’s developer, Palisades Capital Partners; the general contractor, Lendlease; and […]
Walter J. Company eyes Opportunity in Westlake resi development
Adrian Jayasinha and the project site (Credit: Google Maps) Opportunity is knocking in Westlake. A development firm wants to build an 85-unit apartment building — a property that is in a federal Opportunity Zone — in a neighborhood that already has seen a rise in construction projects. The project, which calls for 12 units of […]
Affordable housing developer’s new mixed-complex adds to growing list in Boyle Heights
Isela Gracian, president of East LA Community Corp, and the project site at 113 S. Soto Street (Credit: Google Maps) East LA Community Corporation, an affordable housing developer, is adding to its list of projects for low-income tenants in the Boyle Heights area. This week, the corporation applied for a five-story mixed-use development with 63 […]
Jamison scores loan for latest office-to-apartment conversion
Jaime Lee of Jamison Jamison has been one of the most prolific multifamily developers in Koreatown over the last few years, in part by converting existing office properties into apartment buildings. The family-run firm is continuing that strategy in nearby Westlake, where it secured a construction loan to convert a 13-story office building into a […]