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LOS ANGELES-Frost/Chaddock Developers of Sherman Oaks willcreate an infill project of 93 apartment units built over 15,600 sfof ground floor retail space at 801 N. Fairfax Ave. with a $28.4million construction loan that was arranged by George SmithPartners of Century City. The new project will take the place of asingle-story retail building, an auto body shop and residentialunits that formerly occupied the site and have been razed.

Larry Wilemon, senior vice president at George Smith Partnerswho arranged the financing, says the developer is targeting "thegrowing demand for both multifamily and retail product in the LosAngeles market." Wilemon notes that the construction site is aprime location in Hollywood, which has emerged in recent years as apopular residential and retail neighborhood.