Small scale condo and apartment projects tend to dominate parts of West LA, and here's the latest: Ground broke this week on a 21-unit condo building on Prosser Avenue, just south of Santa Monica Boulevard and west of Beverly Glen, and the site of a former parking lot. The developer is California Landmark, which has their offices right near this project. In a press release, California Landmark makes mention of landing a Wells Fargo loan, saying the loan is "one of its first for a multi-family condominium development since the meltdown in capital markets in 2008." Indeed. Throw in the former Madrone in Hollywood's recent loan, and it's nearly like Christmas for developers!
Anyway, the project will be designed by local architect Phil Kudelka, according to Ken Kahan, CEO of Landmark.
Meanwhile, California Landmark was one of those companies rumored to be behind the purchase of Santee Village, but Kahan declined to comment on the rumors.
· California Landmark [Official Site]
· More Wilshire Construction Delays: Barrington Project [Curbed LA]