A local family development company is proposing a major change to an underutilized commercial office building in Glendale. Currently in the second stage of design review, according to documents from the City of Glendale, the site could be developed with a 24-story residential tower should it be approved.
Located at 625 N. Maryland Avenue, the project proposal by Cimmarusti Development includes the construction of a 294-unit residential tower, with 372 residential subterranean parking spaces and 96 commercial parking spaces for the adjacent Chase Bank building, which was also constructed by Cimmarusti Development in 2013.
According to Cimmarusti Development’s website, the property would also include several amenities. These include landscaped rooftop terraces, a pool and gym, community room, and more. Cantilevered terraces in front of each residential unit would also provide personal open space for future tenants.
Currently, the site is developed with a parking structure and a two-story commercial office building built in 1979. Both would be demolished in order for the development of the mixed-use building.
The property is located in the San Fernando Valley region of Greater Los Angeles, and near a mix of commercial office, retail and residential buildings. In addition, the project site is adjacent to State Road 134.
Cimmarusti Development is a Glendale-based company, founded by restaurant franchisees Larry and Ralph Cimmarusti. With its beginnings in 1979, the company now focuses on restaurant expansion, retail center development and mixed-use housing developments across the U.S. and has been responsible for the development of 10 Tony Roma’s restaurants as well as 60 Burger King locations.
Throughout the West Coast, the company has also built numerous large-scale developments over the years. These include The Landing at Hawk’s Prairie, a 116,119 square-foot retail center in Lacey, Wash.; Plaza Nordhoff, a fully occupied retail center that was completed in 2008 in Northridge, Calif.; and Riverside Drive Family Bridge Housing, a 26-unit affordable housing project in Los Angeles, which is currently in the development process.
Overall, the Greater Los Angeles region has seen tremendous growth in its multifamily sector. According to a third quarter multifamily market report from Marcus & MIllichap, Los Angeles County’s rental inventory grew by 0.9 percent year-over-year, with developers focusing largely on downtown Los Angeles and the San Fernando Valley. During the same time, renters absorbed approximately 18,000 apartment units, causing vacancy rates to drop to four percent.
Cimmarusti Development did not respond to a request for comment.
