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If revitalization has a pattern in Los Angeles, North Hollywood is hitting its peak. The submarket landed on the radar of value-add investors in the past few years, and now FMB Development is breaking ground on new construction luxury residences. The project is certainly a sign of the rising demand and evolution of the market in just a few short years.

“North Hollywood is one of the city’s hottest and fastest-growing communities. We see strong demand for luxury product in the area, and a scarcity of options for the consumer,” Ilan Kenig, CEO of FMB Development, tells GlobeSt.com. “This has created an opportunity for us to fill that gap.” Thanks to this rapid resurgence, FMB is building a 28-unity luxury mixed-use apartment complex at 11436 W. Hatteras Street. It will include 450 square feet of first floor retail space.

North Hollywood was an ideal market for revitalization, because it has a public transit line that connects to both Hollywood and Downtown L.A. With new restaurant and retail openings, it quickly became a live-work-play market akin to popular and more expensive markets in the city. “North Hollywood offers walkability, a close-knit neighborhood, and easy access to jobs and public transit. It is also one of the most creative corners of the city, boasting more than 20 theaters and other cultural offerings within a square mile,” says Kenig. “These are the kinds of amenities that are increasingly attractive for the rental market across different demographic segments. It has driven strong demand in the market.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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