Apartment construction is booming all over LA County, but Glendale's got a particularly bad case of rental fever: some 2,000 units are currently under construction there. According to the Glendale News-Press, all the building has led to severe drop-offs at businesses near construction sites, and it's also caused at least one developer to rethink plans to add to the coming glut. Back in October, Pacific Town Center Development received approval for Colorado Gardens, a five-story, 50-unit apartment building just south of the Americana. Last week, the developer sought and received permission from Glendale's planning commission to convert the project to condos. A rep for the company noted that there are only two other condominium buildings in downtown Glendale and said that "people that are looking to buy, they really don't have options in downtown." And in probably related news, the fully entitled project is up for sale, according to a Loopnet listing updated earlier this month. Anyone looking to get into the Glendale condo game, the asking price $4.5 million.
· Glendale planners agree to condo units in downtown [GNP]
· Downtown Glendale stores blame road work for losses [GNP]