Panorama Group plans 109-unit senior living project in Eagle Rock

It’s the firm’s second elder-care filing this month

Los Angeles /
Apr.April 07, 2020 03:00 PM
Panorama Group Founder Daniel Kianmahd and a rendering of the project
Panorama Group Founder Daniel Kianmahd and a rendering of the project

Panorama Group is betting big on the need for new eldercare facilities in the Los Angeles area.

The Beverly Hills-based firm filed for a 109-unit assisted living facility in Eagle Rock, a week after filing for an 80-unit project in Pico-Roberston.

The 109-unit development is slated for 4900 Eagle Rock Boulevard, a corner property on Yosemite Drive near the neighborhood’s border with Glendale. It would replace a 6,000-square-foot church and a handful of other small buildings.

Plans call for two buildings centered on a single courtyard with a total of 87 assisted-living rooms and 22 memory care rooms for people experiencing cognitive decline. One of the buildings would include a rooftop deck, according to Panorama.

The firm tapped KTGY Architecture + Planning to design the project. The design firm is also working on the Pico-Roberston project, which shares design features and amenities.

Panorama founder Daniel Kianmahd said that about 45 percent of 72,000-square-foot Eagle Rock building is common space, which will include a commercial kitchen, a dining room, library, and a theater.

Panorama looks to break ground in the first quarter of next year and open the facility by the end of 2022. It’s the firm’s third ground-up senior living project, all of which are in the L.A. area.
Though the long term outlook for the development of elder-care facilities looks strong, the COVID-19 epidemic has sent shares of health-care real estate investment trusts plummeting.

Welltower and and Ventas Inc., which both own senior housing portfolios, have each lost over a third of their value in the last month.


Related Articles

arrow_forward_ios
Agent Michael Dalcin (Photos via YouTube/Shoaib Creation's)
LA agent fired after verbally attacking Asian woman
LA agent fired after verbally attacking Asian woman
The Malibu house was designed by Ed Niles. (Coldwell Banker Realty)
Unique Malibu home with futuristic vibes lists for $20M
Unique Malibu home with futuristic vibes lists for $20M
The lot at 3200 S. La Cienega Boulevard in West Adams. (Google Maps)
Developer files for 254-unit West Adams complex
Developer files for 254-unit West Adams complex
Chad Richison and Il Pelicano (Douglas Elliman)
Malibu’s Il Pelicano estate sells for $30M below original asking
Malibu’s Il Pelicano estate sells for $30M below original asking
Gal Gadot and her Malibu penthouse (Getty, Chris Cortazzo)
Gal Gadot picks up beachfront penthouse in Malibu
Gal Gadot picks up beachfront penthouse in Malibu
Meghan Trainor and her Encino Mansion (Photos via Getty; Savills)
Meghan Trainor picks up Encino mansion from TMG Fresh
Meghan Trainor picks up Encino mansion from TMG Fresh
600 The Strand and Cindy Robinson Mullen (Realtor, Tim & Cindy)
Helicopter heiress lists Hermosa Beach home for $23M
Helicopter heiress lists Hermosa Beach home for $23M
Federal Reserve officials expect back rent across California will total nearly $1.7 billion
California renters will owe $1.7B in back rent by year end: report
California renters will owe $1.7B in back rent by year end: report
arrow_forward_ios

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

Loading...