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The Real Deal Los Angeles

Tristar Realty plans 97-room assisted living complex in Encino

The 5-story development would include a health club, parking for 460 vehicles
By Natalie Hoberman | June 11, 2018 08:00AM

Project site with Daniel Keshani

TriStar Realty Group wants to build an assisted living complex and health club in Encino.

The Pacoima-based real estate firm is planning a five-story, 97-room facility, and a two-story health club.

The building, to rise at 17017 Ventura Boulevard, would span 82,100 square feet and include parking for 460 vehicles, according to a proposal filed with the Department of City Planning.

TriStar purchased the existing property in March 2016 for $4.6 million, property records show.

DKN Hotels is working on a hotel project nearby. It recently filed plans to build a 158-key hotel on the site of the Sheraton Hotel, built in the late 1950s.

The largely residential neighborhood in the San Fernando Valley has also seen some pricier home trades within the last year. In a record-breaking deal last fall, the Agency co-founder Mauricio Umansky and his “Real Housewives of Beverly Hills” wife Kyle Richards purchased the “Smokey Robinson Estate” for $8.25 million.