Manhattan West Unveils MultiFam Development Plan for Echo Park
Manhattan West Real Estate has announced multifamily development plans after purchasing two parcels of land on N. Alvarado Street in the Echo Park neighborhood of Los Angeles for $8 million. The firm and its JV partner, Local Development, are pursuing entitlements with the City of LA via its Transit Oriented Communities Affordable Housing Incentive Program.
Both properties, totaling 102 units, will include five stories of residents, offering one-, two- and three-bedroom floorplans and a rooftop deck, among other amenities. They will also include energy efficient features such as EV charging and solar. Construction is expected to begin in late 2023.
“Echo Park has been thriving over recent years due to its convenient location to a number of employment centers, expanding retail and diverse community of artists and musicians,” said Adam Norvell, managing director of real estate at Manhattan West. “We are looking forward to bringing much needed, high-quality rental projects with 10 affordable units to Echo Park.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.