Grubb Property Management Chicago
Grubb Property Management Chicago – The NoHo 7 theater in North Hollywood is slated for redevelopment, according to an application filed last week with the Los Angeles City Department of Planning.
Grubb Properties, a North Carolina real estate development firm that acquired the property at 5240 Nkershim Boulevard for $9.5 million in May 2021, is seeking approvals to demolish the existing theater building to make way for a new seven-story building. open the floor The 128 rental apartments include over 5,000 square feet of ground floor retail space and semi-underground parking for 71 vehicles.
Grubb Property Management Chicago
The developer’s permit application relies on incentives from Transit Oriented Communities to allow a building that is larger than what is permitted by zoning regulations. In exchange, 13 of the proposed apartments will be reserved for rental as affordable housing at the very low-income level.
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Urban Architecture b and MJS Design Group lead the design team for the project, called Link Apartments NoHo.
According to an information brochure prepared by Grubb Properties, the company expects to spend $68.1 million on the North Hollywood project, or about $582,000 per unit.
Completion is expected in 2025, according to the brochure, which indicates Grubb Properties is working to secure Chipotle as an anchor tenant for the ground-floor retail space.
The project is one of several new mixed-use developments in the works around North Hollywood Station, which serves as a terminus for both the G Line bus and B Line subway. Construction is underway for a 127-unit development from the Richman Group next to the transit hub, and a $1 billion high-rise complex is slated to include the station’s surface parking soon.
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Grubb Properties is developing several condo projects in the City of Los Angeles, including one development it previously owned at 950 S. Berendo Street in Koreatown.
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