Privately-owned real estate investment, development and finance company Bolour Associates Inc. (BOLOUR) has secured entitlements to build a seven-story, for-rent residential apartment building in East Hollywood’s Melrose Hill neighborhood.
Located at 4800 W. Melrose Avenue in Los Angeles, the project will include 61 studio and one-bedroom apartment units along with ground-level retail space facing the immediate southwest corner of Melrose Avenue and Harvard Boulevard.
The contemporary-styled building will include five stories of apartment units over two levels of above-grade parking and one level of below-grade parking. Planned project amenities include a gym, common area courtyard and rooftop deck with seating areas and barbeques.
The project sits in the Hollywood Studio District, minutes from the U.S. 101/Hollywood Freeway with proximity to Paramount Studios and surrounded by robust culinary and arts offerings.
“Melrose Hill is an up-and-coming Los Angeles neighborhood,” said BOLOUR CEO Mark Bolour. “We are pleased to add to that momentum in a community where expanding dining, entertainment and employment options only continue to increase the area’s desirability and value.”
BOLOUR has numerous Los Angeles apartment developments now in the planning stages. The company recently secured entitlements for an 86-unit apartment project at 1330 W. Sunset Boulevard., across from Dodger Stadium. Earlier this year it also entitled a project in the Rancho Park neighborhood of West Los Angeles. Located at 2424 S. Veteran Avenue, that project is slated for 30 apartment units including three live-work units that will create street activation along Pico Boulevard.
BOLOUR is an integrated real estate finance, investment and development firm that invests in value-add assets in emerging and transit-oriented neighborhoods. Property types include urban infill land, retail, industrial, multifamily and mixed-use. As a lender, BOLOUR provides borrowers with individually designed debt solutions that often feature creative loan structures and quick closings. The company is currently active in 17 states and the District of Columbia.
