[Image via Tract 7260 Association web site]
Casden Properties is pushing forward with a massive mixed-use development at the corner of Pico and Sepulveda, which hopes to tie into the Sepulveda Station of the Expo Line - Phase II. The project application, filed on November 14, identifies 538 proposed apartment units with an affordable housing component, and "266,800 square feet of retail uses over five levels of subterranean parking..." Among the retail tenants moving in will be a big new Target. One reader emailed us awhile ago about the project noting that it will convert some of that precious industrial land into housing, among other concerns.
"This project is right near the freeway; I didn't think the State of California allowed construction of homes near freeways. Also, what about the preservation of industrial land in Los Angeles? I thought the Planning Department just put out a study in which the confirm their pledge to preserve the industrial land, especially light industrial, which has very flexible use. Not to mention the gridlock." Based on all the entitlements requested (zone change, alcohol permit, general plan amendment, density bonus and site plan review) we're guessing this project has a long ways to go before any ground can be broken - at least two years worth of hearings and studies. And let's not forget the crappy economy.
[Click image for larger view]
· Massive New Project Proposed at the Intersection of Pico and Sepulveda [Tract7260]
· Casden Properties [Official Site]