PRISM – Buyers Love the Small Lot Ordinance
February 5, 2016
LOS ANGELES—Planet Home Living is unveiling PRISM, a new community of 15 new single-family homes in Eagle Rock built using the city’s small lot ordinance. The small lot ordinance is helping to boost single-family home development and home sales by offering residents an affordable route to homeownership.
“Eagle Rock is as highly desirable as it is centrally located and a short drive to downtown LA, Glendale and Pasadena,” Michael Marini, CEO of Planet Home Living, tells GlobeSt.com. “We are offering homebuyers a more affordable home close to many job locations, activities and nightlife. There aren’t many choices out there for new housing especially modern homes this nice on fee simple land.”
KTGY Architecture + Planning designed the 15-home community, which features detached houses ranging in price from $648,000 up to $700,000. The homes will feature two three-bedroom floor plans, from 1,540 to 1,704 square feet, with an open floor plan, large kitchen and two-car garages. Some of the homes will also feature a private yard. The community has already shown interest in the properties. “We have hundreds on our interest list already with an average of two new interest list registrations every single day,” says Marini. “Those who have scheduled pre-opening tours especially appreciate the clean, modern interior finishes, private yard and ground floor bedroom.”
The city’s small lot ordinance is a major reason why this development was built and has been so successful. “This project development tells a great story of how the city of L.A. Small Lot Ordinance can work to generate new home ownership,” adds Marini. “We demolished a very old, dilapidated triplex apartment unit, that really was unfit for occupancy, and in a couple of months we will have 15 new homeowners moving in. We are building and completing all 15 homes at once in anticipation of a successful public grand opening on February 13th.”
Planet Home Living isn’t slowing down. It has other development projects in the pipeline nearby. We have a few projects in various stages of development scattered around the LA market mostly. We are a couple of months away from completing four modern homes in Silver Lake near Sunset Junction called “Manzanita” and we are also getting ready to start framing on 10 new modern homes also in Silver Lake called “COVO.” Both of these offer modern living with rooftop decks.”