Rumor Mill: Durbin Project at Chicken Corner finally bought?
An announcement at last night’s Echo Park Improvement Association meeting (which I am a member of) hinted that the notorious weed-pit known as the Durbin Project has finally been bought!
The 36-condo complex located at 1601-1633 Echo Park Avenue (near Chicken Corner) broke ground in 2008, with plans to open in Summer 2009. Work completely stopped in March 2009 when financer IndyMac went under, and since then, it’s been a weedy unsightly mess.
With potentially new owners, it’s not clear whether work will continue, whether it will turn into a new project (hopefully not one that’s bigger), nor when anything will happen, but we’ve got our eyes and ears open and will let you know when we know more.
Let’s hope they remove the present condo carcass and make it a park. Or perhaps
extend the Chicken Corner shops a bit further.
I think this is a rumor…I got an email the other day (Tuesday, maybe?) from the realtor of the property that said that the bank was accepting offers but there was no set price. They are waiting for offers to come in. I guess there is a chance for an offer to have been accepted but that seems too fast for a commercial transaction.
No, it’s not. It will probably take months for that site to trade. This site has the attention of dozens and dozens of builders who would love to take it over, but the map is expired and the feasibility process to get one’s arms around not just the current state of entitlement and getting new permits, but also the current construction will take some time and so they could end up going under contract with with two or three buyers before it finally trades….which is common. At the end of the day this will get built! There is no doubt among the homebuilding community that demand for new housing in Echo Park is strong.
You know, as long as whoever takes it over will have to get new permits…how about a new design? Something a little more forward-thinking, and a little less pastiche/fake? Ok, I ask for the moon.