Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-The city’s Community Redevelopment Agency has approved $31.7 million in subsidies for a partnership to convert a tired neighborhood in North Hollywood into a giant mixed-use project of apartments, stores, offices and other types of space.

The partnership, headed by locally based J.H. Snyder Co., will build the project around the Metropolitan Transit Authority’s North Hollywood subway station. Plans call for 810 apartments and lofts, as well as 228,000 sf of supermarket and restaurant space.

The project also will include at least 200,000 sf of office space, though Snyder could build more if there’s not enough demand for the apartments. The development, called NoHo Commons, would also include a community health-care center, a job-training and placement center, a child-care facility and parking for 3,461 cars.

The $31.7-million package includes both loans and grants. Some of the money will come from the CRA, with the rest coming from the federal government.

The City Council is expected to ratify the deal soon. J.H. Snyder hopes to break ground next May and complete the first phase of the project a year later.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.