LaTerra Development has purchased an eight-acre property on the outskirts of Downtown Burbank for $40 million, where the Century City-based firm has obtained approvals to construct a mixed-use complex.
The proposed $375-million development, called LaTerra Select, would rise at 777 N. Front Street - one block north of the Burbank Metrolink Station. Plans approved in December 2019 by the City of Burbank call for the construction of three buildings containing 573 apartments - 69 of which will be designated as affordable units - with a 307-key hotel, approximately 1,100 square feet of ground-floor retail, and more than 1,500 parking spaces.
Urban Architecture Lab and TCA Architects are designing LaTerra Select, which would consist of four separate structures ranging from seven to eight stories in height. The residential and hotel buildings will include a series of podium-level courtyards, while the project's parking garage would be capped with a nearly one-acre amenity deck.
At ground-level, plans call for the construction of a 30,000-square-foot landscaped transit plaza adjacent to Magnolia Boulevard. A new elevator and staircase would connect the property to Downtown Burbank, the nearby Metrolink station, and the future side of Burbank Commons - a separate commercial development planned on the opposite side of Magnolia. Additional public realm improvements planned as part of the project include bike lanes and outdoor seating.
“Burbank has the highest jobs-to-housing ratio in the state of California. In the past 20 years, there has only been one Class A apartment complex built, while there has been significant job growth, leaving a severe shortage of housing here,” said Chris Tourtellotte, managing director of LaTerra Development in a news release. “We are building a much-needed neighborhood, which will bring both market rate and affordable housing adjacent to a Metrolink station.”
The Los Angeles Times reports that LaTerra Select is expected to break ground later this year and open in 2023.
East across the Golden State Freeway from the Front Street property, a similar development consisting of multifamily housing, retail, and a hotel is planned for the Burbank Town Centre shopping mall.
- LaTerra Select Burbank (Urbanize LA)