A residential high-rise and four-story luxury hotel has just received development funding in downtown Woodlands Hills, Los Angeles. Existing currently on the site are a three-story office building and a parking lot.
Los Angeles-based Sandstone Properties Inc (who acquired the site in Feburary 2018) is the project developer. WATG (Wimberly, Allison, Tong & Goo) is the project architect. Spanning 4.7 acres (1.9 hectares) the site will soon be home to a 650-unit, 35-story high-rise apartment building, along with a potential 10,000-square-foot (929-square-meter) expansion of the existing office building in order to convert it into a luxury hotel.
Parkview Financial announced a US$28 million loan to refinance the existing loan and to finance the pre-development of the project.
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