Santa Monica developer to build 60-unit multifamily in Echo Park
Realty Investment Advisors wants to continue area's recent resi development push
Echo Park’s multifamily development push is still showing signs of life.
Realty Investment Advisors, led by Ben Hsiang, has filed plans to build a 60-unit multifamily complex at 600 N. Alvarado Street in Echo Park.
The developer, based in Santa Monica, purchased the site for $2.5 million last June from Raquel Dominguez, the surviving member of the D&R Dominguez 2016 Family Trust. The property consists of eight parcels totaling about 25,000 square feet facing Alvarado Street. It is close to the 101 Freeway, according to property records.
Three6ixty, a development consultant in Culver City, filed plans on behalf of the owner. Enrique Viramontes of RE/MAX Commercial and Investment Realty was the listing agent when it sold.
Echo Park is among a number of Eastside neighborhoods in Los Angeles that have seen a steady stream of residential development over the past year. In November, the owners of a shovel-ready 31-unit apartment complex decided to up-size their project to 77 units.
On a larger scale, Korda Group said in July it would build a six-story complex with 158 apartments near Dodger Stadium.