Looks like there may be a new park in East Hollywood, courtesy of the CRA/LA and Council District 13. The following item is on the CRA's November 19, 2009 Board of Commissioners Agenda:
9. ADOPTION OF FINDINGS AND AUTHORIZATION TO TRANSFER $413,000 IN AB1290 FUNDS FROM THE HOLLYWOOD REDEVELOPMENT PROJECT AREA TO THE LOS ANGELES DEPARTMENT OF RECREATION AND PARKS TO ACQUIRE THE PROPERTY LOCATED AT 5401 LA MIRADA FOR THE PURPOSE OF DEVELOPING OPEN SPACE IN THE HOLLYWOOD REDEVELOPMENT PROJECT AREA
5401 La Mirada Avenue is an approximately 7,500 square foot vacant lot located at the intersection of La Mirada Avenue and Serrano Avenue, in the "Little Armenia" community in East Hollywood. In the not to distant past this lot was used by area residents as an informal community garden.
Per Redfin this property was initially listed at $625,000 but underwent a couple of price chops in the last few months and was down to $450,000. If the City is only paying $413,000 for the site (which would work out to roughly $55 per square foot) that's not a bad deal for a developable parcel in Hollywood.
New parkland and public open space are desperately needed in East Hollywood. This proposed new acquisition, while small, is certainly a welcome step in the right direction.
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