Azure looks to develop 76 units in East LA

LA County is considering the project on Tuesday

Jul.July 31, 2018 12:00 PM
The proposed development site at 3rd Street and Dangler Avenue

Azure Development, Inc., is vying to secure an exclusive agreement with Los Angeles County this week to develop a 76-unit project in unincorporated East Los Angeles.

The Commerce-based firm and partner Romero Management Consultants want to combine County-owned properties with adjacent properties Romero owns at the corner of 3rd Street and Dangler Avenue, according to Urbanize. The lots appear to be vacant and underused.

The L.A. County Board of Supervisors on Tuesday will consider entering into an exclusive negotiating agreement with the firm.

The development would have studio, one, and two-bedroom units. Azure plans to make 50 of the 76 units affordable to households earning between 30 and 50 percent of the area’s median income. And they are planning an additional 17,000 square feet of ground-floor retail, restaurant, and medical office space. The project would include an outdoor plaza and parking for 212 vehicles, according to Urbanize.

The site is about halfway between the Metro’s Marravilla and East L.A. Civic Center stations serving the Gold Line, which runs to Union Station in Downtown. It’s unclear if Azure also seeks any density bonuses at the site, which is outside the city of L.A. and wouldn’t be eligible for bonuses through the city’s Transit-Oriented Communities program. That program has spurred developers to plan over 1,000 affordable units around the city.

Azure is planning a 44-unit project closer to the city in Boyle Heights that will include 35 affordable units. The developer is seeking a density bonus there.
[Urbanize] – Dennis Lynch

Related Article

From left: Saeed Nourmand, Michael Nourmand, Grant King and Richard Heyman

Relevant Group sues Nourmand & Associates’ founder, alleging extortion over hotel projects

Centennial founder and CEO Steven Levin with a rendering of the project

Centennial Real Estate approved for sprawling $300M mixed-use village

Apartment complex at 1435 Stanley Avenue and Raintree Partners CEO Jeffrey Allen (Credit: Apartment Finder)

Raintree Partners spends $79M on Glendale multifamily portfolio

LA Mayor Eric Garcetti

Down goes Measure EE: Property tax referendum routed at polls

CIM Group Founders, Shaul Kuba, Richard Ressler, and Avi Shemesh and 4750 Wilshire Boulevard (Credit: Google Maps)

CIM Group lists part of its Miracle Mile office campus

Arman Gabay and The Springs shopping center in Palm Springs, part of the 14-property portfolio

Charles Co. secures $215M refi for retail portfolio

Joon Choi, principal at Harbor Associates, and 2400 Conejo Spectrum Street (Credit: Google Maps)

Harbor Associates leases up then sells off its Thousand Oaks office park

9300 Wilshire Boulevard

Land under historic Beverly Hills office building sells for $25M