search

The Real Deal Logo

Trending

Glossier founder is buyer of $22M Brooklyn townhouseGlossier founder is buyer of $22M Brooklyn townhouseBuyer found for “whole kit and kaboodle” at Anchor Steam Brewery Buyer found for “whole kit and kaboodle” at Anchor Steam Brewery Housing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsBushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160M
Development
Los Angeles

Developer plans Silver Lake apartment complex amid surging market

George Kahwaji, a Rodeo Realty agent, wants to build a 44-unit mixed-use development

The site for the mixed-use project, 2771 W. Rowena Avenue
The site for the mixed-use project, 2771 W. Rowena Avenue

This Rodeo Realty agent has his developer hat on for a Silver Lake project.

George Kahwaji wants to build a 44-unit mixed-use project at 2771 West Rowena Avenue near the Los Feliz border.

Kahwaji filed plans with the city for the residential development, which will include five affordable units. He also requested density bonuses and reduced parking requirements.

Kahwaji said he wants to incorporate around 3,000 square feet of retail space. He said the current plans are preliminary and could change as they move forward with public outreach and the entitlement process.

The building would replace a 2,600-square-foot optometry office operated by George’s father, Michel Kahwaji, who is also an owner. Michel and Joanne Kahwaji have owned the property since 2006. There is also a hair salon and a single-family home on the property, according to documents filed with the city.

Sign Up for the undefined Newsletter

George Kahwaji is an agent with Rodeo Realty in Beverly Hills. The Rowena Avenue project is his largest and first project in Los Angeles. Kahwaji filed through a company called Platinum Triangle Group.

Multifamily development has surged in Silver Lake in recent years, despite attempts to limit dense development in the neighborhood.

Projects in Silver Lake tend to have between a dozen and 100 units. In many cases, developers have taken advantage of city incentives to boost density in exchange for building affordable units.

The Rowena project joins two others large projects filed near the edge of Los Feliz. Ken Kahan’s California Landmark Group filed for a 100-unit project at 1201 N. Myra Avenue in June. Bolour Associates is planning a 65-unit project on a long-entitled site about a half mile away from the Rowena Avenue address.

Single-family home sales and prices have also spiked in Silver Lake. Last year alone, 180 homes sold for more than $1 million each. That’s 50 more sales above $1 million than in 2016. https://therealdeal.com/la/2018/01/08/silver-lakes-top-5-home-sales-of-2017

Tags
DevelopmentLos FelizSilver Lake