The proposed Norm's-killing mixed use project on Lincoln Boulevard in Santa Monica has swallowed up another neighboring business. Century West Partners has bought the Wertz Brothers Antique Mart building and adjacent parking lot, says the LA Times, for more than $11 million, and the property will be developed as part of the Lincoln Boulevard Collection. The LBC is made up four buildings, putting a total of 421 new studio, one-, and two-bedroom apartments just a few blocks away from the future Downtown Santa Monica (aka Colorado and Fourth Street) Expo Line stop. Business is booming for property near the Expo: properties near future stops are going for "as much as seven times higher than previously assessed values."
Each building will have groundfloor retail and the amenities round-up features many of the usual suspects: pool, sun deck, screening room, and fitness center, plus granite countertops and stainless steel appliances in the units. A list of "distinctive features" includes in-wall USB outlets and Bluetooth-enabled amplifiers with in-wall speakers.
The development agreement application looks to be part of the massive backlog at the Santa Monica planning department, though Santa Monica believes the project will not require the full (lengthy) environmental impact report process.
· Santa Monica antique store acquired for mixed-use development [LA Times]
· Denny's to Join SaMo's Expo Line Terminus Mixed-Use Party [Curbed LA]