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Sunday, Nov 24, 2024

Four-Level Proposed for Lake Balboa

 A mixed-use residential project has been proposed for Lake Balboa.The four-story apartment building, which will house 39 one- and two-bedroom units, would rise on a nearly half-acre property at 17630 Sherman Way, east of White Oak Avenue.The residences, to include five low-income dwellings, would be supported by 5,822 square feet of ground-floor retail and semi-subterranean parking accommodating roughly 70 vehicles.Construction will call for razing an existing auto repair garage at the address and replacing it with the contemporary low-rise complex, which will also feature a ground-floor recreation room and a pair of outdoor decks in the rear of the complex.Tarzana-based investor Hany Malek will develop the property, which he purchased earlier this year for $2.6 million.The project is envisioned by Woodland Hills-based Kamran Tabrizi Architect & Associates, the design studio currently working on a mixed-use residential complex at 13274 Victory Blvd. in Van Nuys and the 432-unit apartment building for Lankershim Boulevard and Strathern Avenue in Sun Valley that was proposed in November.Lake Balboa has seen a paucity of development in 2020. The only other notable residential project now in the works in the community is Sophie Court, a collection of nine four- and five-bedroom single-family dwellings planned for a parcel a half mile west of Van Nuys Airport.

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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