The owner of a large patch of Wilshire Boulevard real estate in Westlake is testing the waters for development.
Last month, PIH Health, Inc., which owns Good Samaritan Hospital just west of Downtown Los Angeles, announced that it is seeking an "experienced, financially capable developer," to partner with on properties which flank the health center.
According to a new release, the parcels which are being considered for redevelopment total 5.7 acres, and front the north side of Wilshire Boulevard between Valencia Street to the west and Witmer Street to the east. The land currently servse as parking and ancillary facilities for the hospital.
“As the communities’ health and wellness partner, we are committed to looking for partners who will work with us to provide the very best possible use of this land in service to those who live and work in Downtown Los Angeles,” said PIH Health president and chief executive officer James R. West."
PIH, which acquired the 408-bed Good Samaritan complex in 2019, has tapped Matthew Tarpley and Tom Morsch of H2C Securities, Inc. to assist in the process.
The site, located in the City West Specific Plan Area, has seen a handful of mixed-use and multifamily residential developments within the past decade - including a 218-unit apartment complex which opened directly west across Valencia Street in 2016. Other large projects are also in the works to the north, such as the a second 218-unit development now rising at 495 S. Hatford Avenue.
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- Westlake (Urbanize LA)