Faded Panorama City neighborhood set to get two mixed-use developments (Rancho Cucamonga: apartments, loft)

[jm1982]

This is good to hear. I did see the signs for ICON at the former Montgomery Ward lot.
It's just amazing that land could sit for so long even in Panorama City.
How does a site sit vacant for decades? Insane!
I guess we'll know Panorama City has turned around once we hear about fear of gentrification like we do in Boyle Heights and Highland Park.

Details of the new Montgomery Ward project, including its cost, design and number of apartments are still being worked out, although a sign at the site said the development will include 350 units.


What is known is that there will be 250,000 square feet of retail space.
“There will be a movie theater, restaurants, clothing and everything in between,” Ruvelson said.


The other project is a tower that is going to be redeveloped into loft style apartments. Would be nice to see the area turn around.

"
The units in Panorama Tower will range in size from studios to two-bedrooms.
“It’s loft-style,” he said of the project. “It’s very similar to what happened to downtown L.A. and Hollywood. I did a lot of development downtown and we are bringing that idea to this side of town,” Shomof said."



Faded Panorama City neighborhood set to get two mixed-use developments

[socal88]

It's a step in the right direction but to expect Highland Park type gentrification or downtown type development is completely unrealistic.

Highland Park benefits from its proximity to downtown especially with easy access via the Gold Line metro.

Panorama comparatively is a crime-ridden backwater that is far from the action and not near many white collar job centers. I can't imagine folks with decent incomes who would pay to live there.

People are more likely to live in North Hollywood or southern parts of Van Nuys before they'll consider Panorama City. The developer probably got a discount on the land as it was vacant for years because that specific area is a crime hotspot with next to no value. If anything, Panorama City would be one of the last parts of the Valley to gentrify.

Kudos to the developer for trying to make something happen but I just can't see folks wanting to live there unless you get a decent price point where individuals from the immediate area are willing to pay a tad above market rate to live in a newer complex.

[jm1982]

Originally Posted by socal88

It's a step in the right direction but to expect Highland Park type gentrification or downtown type development is completely unrealistic.

Highland Park benefits from its proximity to downtown especially with easy access via the Gold Line metro.

Panorama comparatively is a crime-ridden backwater that is far from the action and not near many white collar job centers. I can't imagine folks with decent incomes who would pay to live there.

People are more likely to live in North Hollywood or southern parts of Van Nuys before they'll consider Panorama City. The developer probably got a discount on the land as it was vacant for years because that specific area is a crime hotspot with next to no value. If anything, Panorama City would be one of the last parts of the Valley to gentrify.

Kudos to the developer for trying to make something happen but I just can't see folks wanting to live there unless you get a decent price point where individuals from the immediate area are willing to pay a tad above market rate to live in a newer complex.

Yeah I agree, more a step in the right direction. Of course DTLA is very hot these days so the developer is going to sell it as a 'downtown' type development to make it sound attractive and talk it up.
Hopefully it will spur some more development in the surrounding area.
It is difficult when you have large chunks of lower income folks in one area.
There is a Kaiser in Panorama City and several other hospitals.
So it's not that the area is totally devoid of higher income jobs.
Burbank is also 15 minutes away
Studio City , Sherman Oaks, Universal City on Ventura blvd about 20 minutes drive or so lot's of large office buildings and white collar jobs there.

It's not like it's an hour away or something.

Regarding folks with decent incomes, many would never have imagined they'd want to live in Echo Park or Downtown L.A or many other areas at one point.
So yes the area has a long way to go , but I don't think it's safe to write off any neighborhood in L.A entirely.

[LuvSouthOC]

Originally Posted by jm1982

Yeah I agree, more a step in the right direction. Of course DTLA is very hot these days so the developer is going to sell it as a 'downtown' type development to make it sound attractive and talk it up.
Hopefully it will spur some more development in the surrounding area.
It is difficult when you have large chunks of lower income folks in one area.
There is a Kaiser in Panorama City and several other hospitals.
So it's not that the area is totally devoid of higher income jobs.
Burbank is also 15 minutes away
Studio City , Sherman Oaks, Universal City on Ventura blvd about 20 minutes drive or so lot's of large office buildings and white collar jobs there.

It's not like it's an hour away or something.

Regarding folks with decent incomes, many would never have imagined they'd want to live in Echo Park or Downtown L.A or many other areas at one point.
So yes the area has a long way to go , but I don't think it's safe to write off any neighborhood in L.A entirely.

Agreed, especially when you consider people are commuting from places like Rancho Cucamonga so...

[jm1982]

Originally Posted by LuvSouthOC

Agreed, especially when you consider people are commuting from places like Rancho Cucamonga so...

Yeah my father actually lived in Rancho Cucamonga years ago.. about 16 or so years ago . I lived on the westside at the time so I know how bad that commute was. I imagine it's a lot worse now.

[PDF]

Hard to believe they took so long to do something with Panorama Tower. Good news.

[LuvSouthOC]

Huh?

[Cream1]

Originally Posted by LuvSouthOC

Huh?

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