***Wood, one of the partners in Rock Ridge Investment Group, said that tenants interested in the yet-to-be-named project at 1030 Alvarado are not going to be afraid of urban living. The two-building complex, which is scheduled to open in the Spring of next year, is the first along Alvarado in Echo Park to take advantage of zoning laws that allow for bigger and more dense development that combine a mix of housing and commercial uses along busy streets. In this case, the Rock Ridge project includes ground floor stores under 20 apartments that can also be used as office or other types of commercial space.
"We wanted a more dense, more urban project," said Wood. "We think it's more appropriate for the site."
Wood assumes that many of the larger, two-story units - some measuring as much 2,000-square-feet - in the front building along Alvarado will be partly used as office space. The smaller studio apartments located in the back building away from traffic noise will be more conducive for residential living, he said.
Apartment rents have not been determined (the project website is still under construction). But Wood said monthly rents for the smaller, studio apartments - which measure about 500 square feet - should range from $1,200 to $1,400.
If the tenants need a break from the harsh surroundings, they can head for a rooftop deck with fire pit, barbecue and outdoor seating. It will be a safe place to view the intersection of despair - from a distance.
Top image from Rock Ridge Investment Group