Developer Eyes Mixed Use Project on $40 Million Burbank Parcel

Developer SJ4 Burbank has purchased 8 acres in Burbank from Northridge Properties for $40 million. The 542,000-square-foot parcel, located at 777 N. Front St., has already been through a four-year entitlement process. SJ4 plans to redevelop the real estate into a project called the La Terra to include 550 residential units, a 300-key hotel and 6,000 square feet of retail. Lee & Associates’ Brett and Hunter Warner and former Lee principals Jim Fisher and Mike Smith represented both buyer and seller. According to CoStar data, the proposed plan originally involved two buildings with eight stories containing 572 housing units.