So utterly depressing for Echo Park Avenue. So. Utterly. Depressing. Work stopped about a week ago at The Durbin, that townhome development rising at 1631 N. Echo Park Avenue. A construction worker (who asked not to be named) told us this morning that financing--what else?--is the issue. We watched as workers loaded up the remaining wood on a flatbed (seen above), removing all the extra materials from the site so thieves don't steal anything. While this construction site has proved worrisome from the beginning, let's hope this is just a temporary snag. Otherwise, this big blue pit will join its Eagle Rock cousin, Mr. Toothy Disaster aka the abandoned DHM Lofts project on Colorado, The developer on this one is Los Angeles-based Angeles Group, located on Grand Avenue. Calls to the office weren't immediately returned. UPDATE: Adam O'Neill, principal at Angeles Group, tells us that the lender on the project was IndyMac Fed (after being taken over by the government), so they are in the process of working with the new entity through some lending issues. "We expect to be back on track soon," he said. As far as a construction timeline, he expects the model unit to open by summer 2009.
· Echo Park Construction Site Still Seems Ripe For A Lawsuit [Curbed LA]
· CurbedWire: Wacky Pricing History, Echo Park's Durbin Opening April [Curbed LA]