The vacant parcel stands next to the Southern CaliforniaInstitute of Architecture, between Third and Fourth streets. Anofficial at Pasadena-based Morgan Realty tells GlobeSt.com thatescrow on the property should open sometime this week.
The 400 loft-style, live-work condos will be geared towardartists and small business owners. Homes in the first phase of thethree-phase project should be completed about a year from now, aMorgan Realty official tells GlobeSt.com.
The for-sale project would be an anomaly of sorts in Downtown,where nearly all residential construction over the past severalyears has been geared toward renters instead of buyers. Known as"The Yards," units in the complex would range from about 700 to1,600 sf.
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