A roundup of the latest real estate news from Eastside.
The cost of transforming the former Taylor Yard railway property in a waterfront park could exceed $1 billion. The plan is to turn 42 acres of inactive and contaminated railroad property on the border with Glassell Park into a “crown jewel” of riverside revitalization. The parcel is west of Rio de Los Angeles State Park and downstream of Bowtie Parcel State Property.
A 5 bedroom Spanish Colonial revival designed by Godfrey Edwards was listed for $2,949,000 – the first time it’s been on the market in about 60 years, according to Dirt. The century-old Hill Drive home sits on just over half an acre.
A documentary film company takes up more than 30,000 square feet of production and post-production space off Alvarado Street, just north of the 101 freeway, Variety reported. XTR, whose credits include Oscar-nominated “Ascension,” benefits from streaming, which has made documentaries more accessible to global audiences, CEO Bryn Mooser said.
A concept design has been released for the 18-acre Bowtie parcel just south of Highway 2. The state bought the old railroad land nearly 20 years ago to create a riverside park, and plans emphasize open space . There remains, however, the issue of traffic since access involves crossing a residential area.
The former home of Tokio Florist on Hyperion Avenue is to be converted into offices, What Now LA reported. The plans call for the construction of a 3-storey office building and a small storefront next to the century-old Tudor-style house, a historic landmark in the city. Tokio Florist, owned by the Sakai/Kozawa family, operated from their home from 1960 to 2006.
A mini-department store with a cafe on the roof plans to move into a former military surplus store. Neighborhood Goods has submitted plans to open its first West Coast store in the former Excess Value Center at the corner of Sunset Boulevard and Hyperion Avenue.
5-bedroom Spanish-style home on Silver Lake Terrace sold for $3,750,000, making it the most expensive single-family home of the past week, according to Redfin. The 2,742 square foot home sits near the reservoirs. It last changed hands 10 years ago for $849,000.
Real estate discounts
This week’s price cuts include a $9,100 slash on a Silver Lake condo, a $31,000 cut on an East LA Traditional and a $151,000 chop on an Eagle Rock townhouse.