I originally had this one pegged as 1960 Market St., but from looking through the building permits and planning map it appears that the street address for the project will either be 1998 Market St., 1898 Market St. or 18 Buchanan St. It’s a triangular lot where Market and Buchanan meet, and was home to a 76 gas station for many years. The APN for the property is 0872/007 and the work is being done under permit application #201012217106.
The approved plans for 1998 Market St. calls for a condo development with 115 residential units over roughly 7,300 square feet of commercial space at street level with 52 parking spaces in mechanical parking stackers, two car-share spaces and two disabled spaces.
Cahill construction is doing the construction, I assume they are acting as the general and have a variety of subs working for them.
According to the public tax records, the site is now owned by “Cjuf Iii 1998 Property Llc” with a mailing address on the Avenue Of The Stars in Los Angeles, CA. In 2006 the site was sold by A&M Petroleum to 270 Valencia St. LLC, and it appears that the folks at 270 Valenica LLC sold it in early 2012 to the current developer for a sales price of $6,000,000. Again, all of this is from the public tax records.
So that’s what we currently know about 1998 Market St., which appears to have changed hands and is finally under development. I’ve got a request for additional information about the condo project out to a variety of sources, and as I learn more I will be sure to share that information with you.
As always, if you have more information or “scoop” – sorry I couldn’t resist saying that underneath a picture of a bulldozer, feel free to send us an email or leave a comment.