L.A.-Based Developer Buys E. Colorado Blvd. Property, Plans to Build 5-Story Mixed-Use Project

Published : Monday, December 16, 2019 | 5:31 AM

Los Angeles-based developer APPA Real Estate has acquired an entitled property in the Los Angeles County-controlled portion of East Pasadena, and plans to construct a five-story mixed-use complex with up to 100 rental apartments and up to 5,800 square feet of ground-floor commercial space at the location.

The property, located at 3768 E. Colorado Blvd., is less than a mile east of the Gold Line’s Sierra Madre Villa Station in Pasadena.

The proposed project could break ground in early 2020. If so, it would be among the first built in Los Angeles County under updated mixed-use development zoning regulations, which support high-density construction near Metro Rail stations, according to a report by Urbanize LA.

APPA Real Estate acquired the .75-acre property from Beverly Hills-based real estate investment company Bolour Associates for approximately $8.5 million, the report said. It added APPA and Bolour worked to entitle the property for about three years, between 2015 and 2018.

“Our project was the first to go through the County’s new zoning code,” Bolour CEO Mark Bolour said in a news release. “It reflects our commitment to strong local relationships and showcases our ability to identify underutilized land and support creative future development that others might overlook.”

The report also said the project will have two levels of subterranean parking, and amenities such as a gym, co-working space, courtyards, and rooftop decks. It added KFA Architecture in Los Angeles designed the podium-type building, which will have four levels of wood-frame construction above a concrete base. KFA said the project also aims to “reflect the residential character” of the surrounding community.

“The residential program will be located on four levels of Type VA wood-framed construction above a Type IA ground floor above two levels of subterranean parking,” KFA Architecture said in a description of the project. “The building design seeks to create an attractive street frontage at Colorado Blvd. and Quigley Ave. with long spans of clear glass at the ground level and a strong massing element to anchor the site’s corner.”

ReBusiness Online said the land transaction was a direct sale between Bolour Associates and APPA, with details handled in-house by both parties.

Construction could be completed by early to mid-2022, the report said.

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