Eastsider LA reports that developer Holland Partner Group has plans to eventually redo the site with “a six-story complex with 170 units of housing (some of it reserved for low-income residents) and 13,000-square-feet of ground floor retail.”
Property records show that the parcel Taix sits on and the address corresponding to its large adjoining parking lot were sold in July by a trust of the Taix family for $12 million. The buyer is an LLC tied to Holland Partner Group.
There would be room for a smaller version of the sprawling eatery in the new project. It would incorporate the bar, neon signs, and a handful of other hallmark features of the restaurant.
Mike Taix, who has overseen the restaurant for more than 30 years, announced the news to his employees Wednesday, the Eastisder reported.
According to Eastsider LA, Holland Partner Group plans to redevelop the adjoining parking lot with a separate project with 49 residential units.
No plans for either site have been filed with the city yet.
Taix opened in 1927 in Downtown. It opened its Echo Park location in 1962. The Downtown location was demolished for an office building, according to LAist.
See Eastsider LA for the whole story.