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Huge Chunk of Echo Park's Sunset and Alvarado Being Sold as Development Opportunity

Gentrification is set to make another great leap forward in Echo Park as a massive cluster of properties is being put up for sale at the heart of the neighborhood. Jones Lang LaSalle has listed a 1.14-acre parcel of land that makes up most of the southwestern corner of Sunset and Alvarado, says Eastsider LA. Whatever replaces the businesses at this intersection will be built on what JLL is calling a "truly irreplaceable intersection."

The sale includes the properties at 2134 W. Sunset Blvd, 2110-12 W. Sunset Blvd., and 1041 N. Alvarado St.—businesses that will be in the crosshairs include a Lucy's Laundromat and all its tenants (Echo Park's only Starbucks!), Rewind Audio (a mom and pop electronics shop), Eric's Architectural Salvage (ironically, a business dedicated to saving pieces from vintage building), and two discount stores. Leases for the existing businesses begin to expire this year and continue until 2020, when the lease at 2110 W. Sunset (Eric's Architectural Salvage) is up. Meanwhile, Pizza Buona on the corner (right next to this parcel) is being priced out of it's home by steep rent increases, so this looks to be the beginning of massive changes at the busy intersection.

Jones Lang LaSalle has written up a handy booklet about the development potential of the land, promising a "pro-mixed use district and rare density provisions which allow for nearly unrestricted opportunities." The booklet also touts such neighborhood amenities as Origami Vinyl (hip!), Whole Foods (coming soon), and a Starbucks (located in the aforementioned and sure-to-be-demolished Lucy's).

Echo Park seems in good hands. Hopefully whoever moves in loves this "investment opportunity" as much as these longtime tenants have.—Jeff Wattenhofer
Big chunk of Echo Park put for sale [Eastsider LA]
2134 W Sunset Blvd [LoopNet Listing]
Echo Park/Silverlake Investment Opportunity [Brochure]