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LOS ANGELES-California Landmark, a local development firm that is already involved in a high-rise condominium project at Wilshire Boulevard and Malcolm Avenue, has closed on a 20,000-sf site at the northeast corner of Wilshire Boulevard and Barrington Avenue where it plans a mixed-use project that will also include a condominium tower.

Ken Kahan, a principal of California Landmark, describes the firm’s plans for the Wilshire and Barrington parcel as “mixed-use commercial and residential,” explaining that the several buildings now occupying the site will be razed to make way for the new project. California Landmark paid $5 million for the site, which it acquired from a locally based private owner.

The soonest that construction could get under way on the new project would probably be about two years, Kahan says, because California Landmark is just getting started with the entitlement process for the site. The Los Angeles firm will be the developer of the project, for which Corus Bank is the lender.

The Wilshire and Barrington project will follow the Wilshire and Malcolm condo development, that latter, which California Landmark is developing in a joint venture with the Fified Cos. of Chicago. Kahan notes that the developers have recently obtained the final entitlements for the Wilshire and Malcolm project in Westwood, which will be a 23-story tower of 80 units. The Westwood tower is being designed by an architectural team headed by Nadel & Associates of Los Angeles, with several consulting architects on the team.

Principals Kahan and Steve Erdman head California Landmark. Founded in 1988, the firm has extensive experience in the West Los Angeles condominium market. Its developments have included more than $250 million in infill attached low- and mid-rise residential condominiums in the past decade. With its partners, it plans to introduce more than $300 million of new residential high-rise and mid-rise projects in the next two years. The firm also has more than 150,000 sf of industrial-use product under development in the rapidly growing Ventura County market.

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