Completion is expected in early 2025 for a large mixed-use apartment complex now taking shape to the Burbank Metrolink Station, the Downtown Burbank Property Based Business Improvement District announced this week.
The project, which is being built by LaTerra Development on an eight-acre site at 777 N. Front Street, is a joint venture with QuadReal Property Group. Plans call for a total of 573 apartments - including 69 units of deed-restricted affordable housing - as well as a 307-room hotel and commercial space at completion. Plans also call for a 40,000-square-foot rooftop deck with two swimming pools, a fitness center, co-working space, and screening rooms, among other amenities.
Outside of the building, the project will bring two-way bike lanes, a transit plaza, and new stairs and an elevator to help connect the site to the nearby rail station and Downtown Burbank.
“Downtown Burbank has even more potential to unlock. What we are building is designed ideally for the creative workforce that drives the city’s entertainment sector,” said LaTerra Development’ managing director Chris Tourtellotte in a news release.
LaTerra's development is not the only large mixed-use complex taking shape in the neighborhood. Not far away at 1st Street and Magnolia Avenue, the First Street Village development will include 275 apartments with nearly 19,000 square feet of ground-floor commercial space, while a proposed AC Hotel is slated to bring a 196-room hotel to 550 N. 3rd Street.
Burbank, which is home to Disney, Warner Bros. Discovery, and Netflix among other large entertainment companies, is jobs-rich but housing poor, according to the Downtown Burbank BID. Currently, the city has 3.5 jobs for each housing unit.
Downtown Burbank, which is slated to see nine new stores and restaurants open in 2024, has seen an 8 percent increase in its number of annual visitors since 2019, according to data from Pacer.ai.
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- LaTerra Select Burbank (Urbanize LA)