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Collection time approaches

Development with 60 lofts and 58 condos in the heart of downtown is right on schedule for a June arrival, Burbank officials say.

October 17, 2007|By Jeremy Oberstein

“We have inclusionary housing requirements [in Burbank],” he said. “New structures must either provide affordable housing units or pay into a fund.”

The city is also partnering with the Burbank Housing Corp. to make units available to low-income families, Golonski said.

But potential Burbank Collection residents don’t seem to mind the price tag.

Since the Burbank Collection began listing units for sale last year, they have sold 60% of the 118 homes, Koski said.

Future residents seem to be a mix of many professions and age groups, she said.

“The buyers have been really mixed,” Koski said. “We have some empty-nesters, newly engaged couples, retired people and a lot of industry folk.”

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Asked why they would pay for the units, Koski responded, “location, location, location.”

While the location was not the subject of controversy when plans were first approved in 2004, parking concerns did rankle one member of the City Council.

Golonski voted against the project, concerned with the plans’ original parking concept, which would have had residents forced to park in tandem.

The developers, Champion Development Group, sought to alleviate those concerns by building a subterranean parking lot with side-by-side parking spots for residents.

“Each homeowner gets two parking spaces,” Howard said. “They are side-by side, not tandem.”

The $60 million project is on schedule, said Steve Viana, director of operations for construction firm Coury Enterprises.

“We started in March 2006 and expect to finish May 2008,” he said. “We’re right on track. We just hope it doesn’t rain.”

Koski expects to sell all the units by the time the building is set to open in June.

“We expect them to all be sold,” she said. “People who know Burbank love Burbank.”


 JEREMY OBERSTEIN covers City Hall and public safety. He may be reached at (818) 637-3242 or by e-mail at jeremy.oberstein@ latimes.com.

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