Another multifamily project may soon rise in Los Angeles near Dodger Stadium, the world's largest baseball venue.
Bolour Associates, a Beverly Hills-based real estate firm that is the property's owner and developer, plans to build 86 units at 1330 W. Sunset Blvd., according to city of Los Angeles documents. The project is the latest proposed near Dodger Stadium, the biggest by seating capacity, after a Vancouver firm beefed up its plans to build apartments at 1185 W. Sunset Blvd.
The project is located in Echo Park, a neighborhood in east-central Los Angeles. The neighborhood, along with nearby Silver Lake, has become popular for eating and shopping in recent years.
Bolour's Sunset Boulevard project is expected to feature a fitness center, open-air courtyard and rooftop amenity deck, according to project plans. Roughly 22 trees also will be planted on site. Renderings show a Dodger-related mural on the project's ground floor.
Bolour bought the property for $3.8 million in December 2021, according to CoStar data. A Bolour representative didn't respond to an emailed request to comment from CoStar News.
The project comes as apartment construction starts have slowed in 2023 on the West Coast due to financing challenges. The biggest cities in California, Oregon and Washington have all seen construction starts fall, which may drive up prices for housing in the years ahead.
The northeast Los Angeles multifamily market, which includes Echo Park, has an average asking rent of $1,772, below the greater Los Angeles average of $2,230, according to CoStar data. The market's vacancy is 4.9%, similar to the greater Los Angeles average of 4.8%.