Bolour Associates has sold an East Pasadena development site that benefits from Los Angeles County's new mixed-use zoning ordinance. The development and investment firm entitled the land site under the new zoning rules, and sold it to APPA Real Estate for $8.5 million. This is the first land site to earn entitlements under the new program, which applies to mixed-use development near metro rail sites.

"There would be no project without the rezoning of this area. Before the rezoning, the site did not allow for enough FAR, density or height to be able to build a mixed-use multifamily project," Mark Bolour, CEO of Bolour Associates, tells GlobeSt.com. "The previous zoning also did not allow for mixed-use development in this area of Los Angeles County. The updated zoning allows up to 60 feet in height and up to 150 units per acre, which gives property owners the ability to build up to a five-story project and create the density necessary to make the project viable."

As the first developer to entitle a project under the new regulations, Bolour had some challenges in navigating the guidelines. "The county did a great job of creating a vision for the area and effectively implementing the new MXD zoning but because they are a regulatory agency a lot of the small details were not addressed," says Bolour. "As we designed the project and worked with the planning department and department of building and safety, we had to get creative about how we solved a lot of these small issues that came up. You definitely need to be very patient."

Bolour didn't buy the site to take advantage of the new zoning. It owned the site previously, and the opportunity presented itself. "This specific site is an asset we've held for a long time, waiting for the right time to move forward with a development plan. In this case that plan involved a rezoning, which also took a long time," says Bolour. "You have to make sure all of the details of the new code are aligned between all of the parties involved. That requires an educational process for some, ironing out new code amendments and working together to find solutions to issues that arise along the way."

For other developers looking to build under the ordinance, Bolour recommends patience. "Finding a site and building a project in this area will require the same level of patience as the rezoning did but it will be worth it," he says. "This is a good submarket with strong demographics that are improving on a daily basis. The area will only continue to grow."

With the entitlements, the opportunity was highly popular. "The interest in this land site was strong," says Bolour. "It took us some time to find a developer familiar with this part of L.A. County and the new zoning, but once we did things moved very quickly. We are excited to see this project built."

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First Development Site Under New Zoning Regulations Trades Hands

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