Pasadena portfolio: Developer plans 3rd resi complex in the city

Los Angeles /
Jun.June 25, 2019 11:00 AM
James Li and 141 South Lake Avenue (Credit: Google Maps)
James Li and 141 South Lake Avenue (Credit: Google Maps)

A developer who is head of a Shanghai-based banking firm is building up his residential portfolio in Pasadena.

James Li, CEO of E.J. McKay & Co. wants to build a 91-unit mixed-use project at 141 S. Lake Avenue, according to Urbanize. The six-story development is planned for a 1.3-acre property. Li is planning 10,000 square feet of ground-floor commercial space and 253 parking spaces underground. Pasadena is considering the proposal, according to the report.

This will be his third project in the city. Li also working on a 100-unit development on Pasadena’s Colorado Boulevard and a 115-unit project on Walnut Street.

Li is working through DC Lake Holdings LLC. He sought to build a 70-unit project on the property last year. The Pasadena Design Commission will hold a preliminary hearing on the new proposal this week.

The hearing is an advisory meeting that gives the commission a chance to weigh in on plans before a formal development plan is submitted. Pasadena-based architecture firm Moule & Polyzoides is designing the development.

Li purchased the property in December 2016 for $16.6 million. [Urbanize] — Dennis Lynch


Related Articles

arrow_forward_ios
Jeffrey Jaeger and the Villa Raymond Apartments (Google Maps)

Standard Companies buys Pasadena senior housing, plans fix-up

Standard Companies buys Pasadena senior housing, plans fix-up
Thomas F. Rosenbaum, Caltech President, and a rendering of the project

Caltech wants to build 80K sf mass timber research lab

Caltech wants to build 80K sf mass timber research lab
The Pasadena home (Credit: Douglas Elliman of CA, Inc.)

Pasadena’s Chandler Estate in contract

Pasadena’s Chandler Estate in contract
Landlords are organizing a protest around the lack of mortgage relief government policies and the inability to hit tenants with eviction notices.

What do we want? Mortgage relief!: Landlords plan LA protest

What do we want? Mortgage relief!: Landlords plan LA protest
Mike Bannon, California Apartment Association, executive director

Mom-and-pop resi landlords are already struggling

Mom-and-pop resi landlords are already struggling
An illustration of David Lee

A boomtown for a bygone era: Koreatown developers face a reckoning

A boomtown for a bygone era: Koreatown developers face a reckoning
Tani Cantil-Sakauye (Credit: Earl Gibson III/Getty Images)

Landlords sue California over eviction ban

Landlords sue California over eviction ban
Eric Garcetti, Nury Martinez, and Daniel Yukelson (Credit: Marc Flores and Alberto E. Rodriguez via Getty Imahes, Linkedin, and iStock)

LA landlords sue city over residential eviction ban

LA landlords sue city over residential eviction ban
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...