36 on Echo--the long-delayed, much-maligned condo project on Echo Park Avenue at Morton--is almost sold out after opening in mid-2012. The two- and three-bedroom townhouses have been selling at prices ranging from $489,000 to as much as $699,000, with only two remaining unsold, reports Eastsider LA. Not bad for a project that's been down for the count more than once since 2007, with a design that isn't exactly the hipsterbait you'd expect around there. Finally completed by developer DR Horton, the history of 36 on Echo is like the story of the housing collapse writ small.
When Angeles announced it was developing 36 townhouses on the site in 2007, the project got a "Woo-wee!" from Curbed, which was followed up with word that construction was underway in 2008. Sure, we worried it was ripe for a lawsuit (a messy, spikey site with no barriers or netting around it), but hey, it was now called The Durbin and was all set for an April 2009 opening! But then, disaster struck: reverse construction. Angeles lost the project to their lender in 2010 and it continued to sit, blighty and weedy with its blue wood frames--which earned the project its Smurf Village nickname. In 2011, DR Horton bought the project and, like some kind of Gargamel, tore down the Smurfy frames and started all over again. But things were looking up. By April 2012, the Eastsider reported that 80 people had put their names on an interest list, and the rest is now history.
· Eastside Property: Welcome to Echo Park, condo people [ELA]
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