search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aSterling Bay, JPMorgan at odds with Wells Fargo on $230M Fulton Market debtSterling Bay, JPMorgan at odds with Wells Fargo on $230M Fulton Market debtOffice upgrades, concessions to lure tenants add “killer” cost: Steven RothOffice upgrades, concessions to lure tenants add “killer” cost: Steven RothCharles Cohen’s 750 Lex value slashed by 83%, foreclosure loomsCharles Cohen’s 750 Lex value slashed by 83%, foreclosure looms
Los Angeles

Back from the dead: Bolour Associates adds 76 units to Arts District project

Rendering of the project at 527 South Colyton Street and Bolour CEO Mark Bolour (Credit: Bolour Associates)
Rendering of the project at 527 South Colyton Street and Bolour CEO Mark Bolour (Credit: Bolour Associates)

UPDATED, 2:25 p.m., Sept. 9: Beverly Hills development firm Bolour Associates is tweaking its plans for a live-work complex in the heart of the Arts District — to make it even bigger.

First proposed in November of 2014, the project now calls for the construction of a 310-unit mixed-use building on the corner of Colyton and Palmetto Streets. It would also include 11,375 square feet of commercial space, according to documents filed with city planning Friday.

Bolour acquired the property at 527 South Colyton Street for $5.4 million in 2014, property records show. The firm then filed for 234 live-work units and 13,010 square feet of commercial space, but that version of the project did not move forward.

It was mostly a creative decision, Bolour’s director of acquisitions, Adam Eisenberg, told The Real Deal. The company changed the structure’s construction type from a combination of wood and concrete to all concrete.

Sign Up for the undefined Newsletter

The new plans also feature more space for amenities such as art rooms and storage units, as well as a public plaza outside.

“It will be very community oriented and pedestrian friendly,” Eisenberg said.

The site is currently occupied by a 12,000-square-foot industrial building. It’s not leased and the Bolour uses it for its own filming projects.

Earlier this summer, Bolour filed plans for a 65-unit luxury residential project at 3160 Riverside Drive after acquiring the site for $5.3 million. And in June, the firm submitted plan to build a 101-unit condo complex with 600 square feet of ground floor commercial space in Sherman Oaks.

In the Arts District, Bolour also proposed the Amp Lofts, a large multifamily project at 695 South Santa Fe which is slated to begin construction in December, according to CoStar, and has been pushed back from earlier reports.

Tags
Bolour AssociatesDTLA Arts District