NOHO DEVELOPMENT BOOST PROJECT PLANNED FOR `URBAN PLACE' IN ARTS DISTRICT.Byline: GREGORY J. WILCOX Staff Writer NORTH HOLLYWOOD -- The NoHo Arts District
The Arts District received yet another boost Tuesday when a development group said it would invest $30 million to build a live/work project near the Y-shape intersection on Lankershim Boulevard. The project, a partnership among C.O. Wood Development, Habitat Group Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Brix Properties, is being described as a ``contemporary mixed used urban place.'' It's planned for a 29,000-square-foot parcel at 4900 Vineland Ave., just north of Lankershim. ``Our goal is to deliver relatively affordable units targeted to younger professionals, many of whom work in the nearby entertainment industry. The project site is unique in that it is bound by three streets and an alley, essentially creating a stand-alone city block, allowing us to maximize light, air and views as well as providing access on all sides,'' C.O. Wood said in a statement. The group plans to build 58 condominiums in a two-building complex. It will include five ground-floor live/work units, seven two-story penthouses, and 46 flats with open floor plans. The units are expected to range from the high $400,000s to $800,000. The project is within the North Hollywood redevelopment area. It's bounded by Vineland on the west, Peach Grove Street on the south, Huston Street Huston Lowell Street (born August 2, 1983, in Austin, Texas) is a relief pitcher for the Oakland Athletics, currently best known for winning the 2005 American League Rookie of the Year. His father is former University of Texas quarterback James Street. on the north, and an alley on the east. The units will be walk-ups, close to the North Hollywood Metro Redline red·line v. red·lined, red·lin·ing, red·lines v.intr. 1. To refuse home mortgages or home insurance to areas or neighborhoods deemed poor financial risks. 2. and Orange Line stations. In addition, they will feature underground parking. A six-story building will face Vineland and a five-story building will face the property's east side. Frank Evanisko, president of Studio City-based Evanisko Realty & Investment, represented the buyers and Specter Development Co. Inc., the sellers. The property previously housed a theater and auto parts Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
Groundbreaking for the project, tentatively named ``4900,'' is expected for this spring with a late summer 2008 opening. ``NoHo is exploding,'' Evanisko said. Just five years ago people wouldn't think of venturing north of Magnolia (Boulevard) or north of Camarillo (Street). But this is still a very prime intersection.'' It also suggests urban living -- higher density along a major street -- is becoming more popular in the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. . Jeffrey Stenfors, a principal of Stenfors Associates Architects of Los Angeles and the designers of ``4900,'' said the intent was to ``sensitively urbanize'' the area via higher density mixed-uses. ``We have created an environment with opportunities for living, work, and retail, rather than a housing block. The result will enliven en·liv·en tr.v. en·liv·ened, en·liv·en·ing, en·liv·ens To make lively or spirited; animate. en·liv  en·er n. the streetscape street·scape n. 1. An artistic representation of a street. 2. Surroundings composed of streets: the urban streetscape. ,'' Stenfors said in a statement. greg.wilcox(at)dailynews.com (818) 713-3743 The details WHAT: A 58-unit condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. complex, including flats, penthouses and live/work spaces. WHERE: Vineland Avenue in North Hollywood. HOW MUCH: From the high $400,000s to $800,000 WHEN: Will open late summer 2008. CAPTION(S): box, map Box: The details (see text) Map: New project Daily News |
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