George Smith Partners has announced a $21.6-million construction loan for the development of a mixed-use building in Silver Lake.

The project, located at 3400 Sunset Boulevard, is a joint venture between Barth Partners and Barry Leddy Development.  It is the first luxury condominium complex in Silver Lake to be built in more than a decade, according to GSP Managing Director Jonathan Lee.

The building site, which abuts the Micheltorena Stairs, will yield a five-story structure featuring 35 dwelling units atop 2,000 square feet of ground-floor commercial space, designed for a restaurant. 

A rendering portrays a contemporary design, featuring outdoor seating along Sunset, multiple roof decks, balconies and a swimming pool.  Other amenities will include a gym and conference rooms for residents who work from home.

Rendering of 3400 Sunset Boulevard
Image via Google Maps

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Senior Affordable Housing Opens Near Orange County's Great Park

The two-building development features 157 apartments.

Developers Related California and FivePoint have opened a new affordable housing complex near Irvine's Great Park.  The project, called Luxaira, features 157 residential units catering to low-income seniors.  It is the second senior affordable development to be built in the Great Park neighborhoods by Related, FivePoint, and collaborator RCC Charitage.  To date, more than 500 affordable housing units have been built around the park in four separate projects.