The adaptive reuse project, a joint venture with Octane Development at the southwest corner of Los Robles Avenue and Cordova Street, converts an eight-story building into 57 one-, two-, and three-bedroom condominiums, while retaining 23,000 square feet of office space. The property will also include a fitness center, a business center, and a landscaped terrace deck.
Over 60 percent of the building's condos have been sold to date, with sales prices starting at $900,000 and ranging as high as $5 million for penthouses.
Completion is anticipated in August.
The second half of the project calls for building 48 additional condominiums, as well as an amenity deck, onto the frame of an adjacent parking structure at Cordova and Euclid Street. Completion of phase two is expected by 2021.
Adept Urban is scheduled to break ground later this year on a similar project in Downtown Glendale, which would also include the adaptive reuse of an office building and the construction of new housing atop a parking structure.
- Pasadena Office Building Adding Condos (Urbanize LA)