NoHoWest North Hollywood
Coming to North Hollywood and the greater San Fernando Valley, a new “Americana-esque” shopping, living, and entertainment center is currently being built, NoHoWest. The project officially broke ground on April 21st, 2017, and is likely expected to be completed sometime in 2019. However, no official completion date has yet been announced. Merlone Geier Partners is the owner and developer of NoHoWest. They are a real estate investment company that specializes in mix-use projects across the West Coast. The project is expected to be similar to that of The Americana at Brand in Glendale or The Grove in Los Angeles.
Construction began mid-2017 on the old Macy’s building on Laurel Canyon Blvd and Oxnard St. Initial. The old Macy’s building is expected to become NoHoWest’s office spaces. The area will stretch almost four blocks and include many different amenities including restaurants, retail stores, offices, and also apartments. As their site explains, “A strong base of housing fosters a sense of community for an otherwise commercial project and creates a rich environment in which visitors, customers, employees, and residents can interact.” These mix-use style developments have become increasingly popular in Los Angeles and many metropolitan areas as more residents look for convenience and close proximity to their favorite shopping and entertainment destinations. NoHoWest also plans on hosting a high-end moving theater, a gym, and also maintain over 2 acres of open space.
The apartment homes that will be part of NoHoWest will feature a number of on-site amenities including a gym & yoga center, recreation areas, a bbq area, pools and spas, and potentially even a dog park. The units will be professionally managed, as well as, maintain 24 hour on-site security. No word yet on how much the units will end up renting for.
What does this mean for Home and Rental values in the area?
It’s tough to say what the future will hold. Sadly we do not hold a crystal ball. However, with investment and development in an area often values go up. Likely NoHoWest will further increase development in the area and therefore likely will also increase North Hollywood’s home values.
Homes in North Hollywood
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