Symphony Development’s planned 128-unit project near Cal State Northridge isn’t associated with the school, but the choice of location is no coincidence.
There will be student housing. The residences will include studio to four-bedroom units, according to the Los Angeles Daily News. There will also be 5,700 square feet of ground-floor commercial space, along with 205 parking spaces, and room for 157 bicycles. It will also include a roof deck, clubhouse, gym and pool.
The building will rise at 9530-9546 N. Reseda Boulevard and will require demolishing an existing post office and parking lot.
Symphony, a Westside-based firm, acquired the property in April 2014 for $5.6 million and previously planned a 140-unit residential project there, the Real Deal has learned.
Cal State Northridge dominates the San Fernando Valley neighborhood that bears its name, but it may soon also be known for social media giant Facebook. The company signed an 80,000-square-foot lease last year at the Mix at Harman Campus, a creative campus owned by Shubin-Nadal Realty Investors and DRA Advisors.
Northridge’s most recent big deal went down earlier this month, when PacWest acquired up a nearly 90,000-square-foot shopping center for $16.5 million through an online auction. [Los Angeles Daily News] — Dennis Lynch