The latest issue of the Park La Brea Press is reporting that last month the Los Angeles City Council approved development restrictions in Larchmont Blvd. According to the paper, there is now a 35-foot height limit on all buildings, as well as a 50-foot limit on linear street footage. Concerns about height and possible overdevelopment arose after a landlord raised rents on many of the buildings last year, leading some to conclude and (real estate brokers to hope that) chains might come in. Via the paper: "The latest loss in Larchmont Village is that of Spirituali, which closed its doors in recent days, marking the ninth small business to vacate Larchmont Village since November, 2007, when developer Albert Mizrahi purchased multiple buildings in the area and raised rents. Nine tenants got notices of rent increases at that time, including Larchmont Village Jewelers, which has since closed. Larchmont Hardware was also driven the area by rent increases." According to the paper, the Mayor has till March 3rd to sign the ordinance. [Park La Brea Press/PDF]
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