A developer is planning to build a 71-unit market-rate apartment building in Sun Valley, where a number of multifamily projects are now in the works.
North Hollywood-based Sahaco Inc. filed plans for the 101,000-square-foot apartment building on North Glenoaks Boulevard, records show. The firm picked up the property — at 8465-8479 N. Glenoaks Boulevard and 8400-8424 North Wheatland Avenue — for $2.63 million in late 2018.
The re-development parcels include a restaurant, which would be demolished, a 4,265-square-foot parking lot and two lots totaling 27,846 square feet.
Sun Valley — like nearby North Hollywood — is becoming a popular San Fernando Valley locale for reesidential development.
Last February, Hankey Investment Company filed an application for a 432-unit mixed-use project with 40,000 square feet of retail and community and recreation room space. The retail space will include two restaurants, split between 8,000 square feet.
Meta Housing Corporation and Western Community Housing also announced plans to build a four-story building with 110 units. The project will have 45 permanent supportive units and 65 units for low-income households.
Meanwhile, in nearby North Hollywood, Strategic Legacy Investment Group and Sanei Architecture Planning Company are looking to build an 84-unit apartment complex.
Investor Alan Kleinman is planning a 119-unit project at the North Hollywood site of Debbie Reynolds’ famous dance studio on Lankershim Boulevard.