Controversial residential project planned near SpaceX has new owner

Houston-based developer Dinerstein acquired the Hawthorne property

TRD LOS ANGELES /
Feb.February 27, 2018 05:00 PM
Jack Northrop Ave & Crenshaw Blvd (Credit: Google Maps, PxHere)

UPDATED, 1:32 p.m., February 28: Houston is a go for launch.

The site of a controversial residential project to be located near SpaceX has a new owner, and it is Houston-based Dinerstein Companies.

The company, which develops multi-family homes and student housing, acquired the mixed-use project in Hawthorne for $18.2 million. The sale followed the Hawthorne City Council’s decision in October to approve the construction. The seller, Newport Beach-based Blackwood Real Estate, pitched the project in July 2017. It proposed 305 apartments and a restaurant at the corner of Jack Northrop Avenue and Crenshaw Boulevard.

Blackwood Real Estate did not immediately return requests for comment.

Elon Musk’s SpaceX, which is headquartered next door, opposed the plan, according to the Daily Breeze. Amazon also has operations nearby. The city’s mayor, Alex Vargas, also opposed the project, telling the Daily Breeze that the land could be used for industrial space instead.

The size of the project was eventually scaled down, and the Council voted to allow 230 apartments, a restaurant and walking paths at the six-story building.

The revised proposal included fewer parking spots and smaller apartments than required by zoning and municipal code. It is half a mile from the Green Line.

Dinerstein declined to comment.

Correction: An earlier version listed the incorrect headquarters for Blackwood Real Estate.


Related Article

arrow_forward_ios
Malibu Real Estate Investments principals Bedros Oruncakiel and Kirkor Suri

Malibu spec mansion lists amid softening luxury market

Chandler Parsons and his property on Stone Canyon Road (Credit: Getty Images)

Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion

CoreLogic's Andrew LePage and Orange County (Credit: Wikipedia)

SoCal housing market shows signs of life, with a caveat: report

Bridge Housing CEO Cynthia Parker and a rendering of the view from Walnut and Anaheim (Credit: SVA Architects)

Fully affordable complex set to rise in vacant Long Beach lot

Tracy Tutor and her Brentwood home

Tracy Tutor of “Million Dollar Listing ” asking a lot more for Brentwood home

Anton Lessine and 321 South Bristol Avenue, and Behati Prinsloo and Adam Levine with their home (Credit: Getty Images and Zillow)

This week in celeb real estate: Adam Levine unloads $45M home, a Hollywood film producer sells in Brentwood…and more

Anton Lessine and 321 South Bristol Avenue (Credit: Getty Images)

Hollywood producer Anton Lessine sells Brentwood Park mansion for $17M

Andy Reid, the President of MetroStudy

The great SoCal slowdown: Homebuilding drops 18%

arrow_forward_ios