One block south of the Sunset Boulevard and Western Avenue, where the controversial Hollywood Target remains a half-finished husk, construction has quietly started on another mixed-use development.

Gemdale Corp., a large Chinese real estate firm, is partnering with Los Angeles-based LaTerra Development to construct a $125-million residential-retail complex on the former home of the defunt post-production firm Deluxe Laboratories.  The project, located on a 3.5-acre site at 1350 N. Western Avenue, will be highlighted by a six-story building featuring 254 apartments - including 21 units of affordable housing - and approximately 4,000 square feet of ground-level commercial space.

Other components of the project include the refurbishment of an existing 68,000-square-foot office building, which has been fully leased to financial technology company ZestFinance.  Gemdale intends to eventually sell the three-story structure.

The podium-style building is being designed by PSL Architects.

The first stage of the project, a standalone parking garage, is now rising at the northwest corner of the property.  Construction was able to begin thanks to a $30-million bridge loan secured with the assistance of the real estate investment banking firm George Smith Partners.

Completion of the full development is expected in 2018.

Image via Urban Architecture Lab
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