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7/03/18
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Strategic Legacy Investment Group (SLIG) has broken ground on La Mirada @ Central Park Smart Apartments in Hollywood. The firm celebrated the occasion with a groundbreaking ceremony last Sunday, July 1.
La Mirada @ Central Park will be a 13k sf apartment building consisting of 13 units on a 7.5k sf R-3 zoned lot with a mix of affordable and market-rate housing. The property, located at 5608 La Mirada Ave, contained a single-family house prior to it being demolished to make way for this project.
La Mirada @ Central Park will consist of seven one-bedroom/one-bath units and six two-bedroom/two-bath units. They will be available for lease as of December, 2019. SLIG’s subsidiary, Strategic Legacy Management Corp, will be handling the marketing and leasing.
Architect Babak Azimi of Arcaforma designed the building, which will be built by ESAB Construction with construction management handled by general contractor, Emanuel Sabet, and construction manager, Zack Moradian. Michael Sabet is the project coordinator along with senior project manager Sanna Pollanen, representing SLIG. The project’s amenities include smart home technology, a Wi-Fi lounge and game room, modern European finishes, a pet friendly community, and a rooftop lounge with expansive Hollywood views.
With a Walk Score of 90, considered by walkscore.com as “a walker’s paradise”, the property is centrally located within blocks of all that Hollywood has to offer, including The Dream Hotel, Arclight Theatre, W Hotel, Emerson College, Netflix Corp Headquarters, Sunset Bronson Studios, designer stores, restaurants and Hollywood's famous nightclubs and it is just steps from the future Hollywood Central Park.
SLIG is very active in the Hollywood community, as La Mirada @ Central Park is part of a six-property portfolio totaling $65 mil in value. Four of these projects are currently being developed by SLIG within a mile of this project. The total SLIG portfolio is now valued at $344 mil.
Commenting about developing La Mirada @ Central Park, Abraham Mehrian, President and Chairman of SLIG, noted, "we are taking a 7.5k sf lot with a dilapidated home and creating 13 brand new units, with a mix of affordable housing, in a modern amenity-rich complex, thereby improving the quality of life in the entire neighborhood and addressing the dire affordable housing crisis in Los Angeles."
Emanuel Sabet, member of the Board of Directors of SLIG, added that the firm felt it was important to deliver a product that is more elegant and well-designed, with the latest in technology and amenities that both market rate and low income Hollywood residents deserve.
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