Glendale, California Home To Growing Construction Activity
A property at 820 N. Central Ave. in Glendale, California, may be redeveloped into apartments.
By Jack Witthaus
CoStar News
January 12, 2024 | 3:16 P.M.
An apartment project has been proposed for Glendale in another sign of growth for an in-demand part of Los Angeles County.
A developer has filed plans for a 105-unit, eight-story multifamily project at 820 N. Central Ave., according to Glendale city documents. The nearly 1-acre property, which holds a 1980s-era, freestanding retail building, has long been eyed for redevelopment.
Arden Residences purchased the property — located north of the Glendale Galleria and Americana at Brand malls that serve as the city's major retail destinations — for $12.2 million in April 2023, according to CoStar data. Glendale is located north of downtown Los Angeles.
The proposed project joins a 131-unit development in the works at 1303 N. Central Ave., an 858-unit project at 601 N. Brand Blvd. and a 665-unit project at 236 N. Central Ave. Roughly 310 units are under construction in Glendale, according to CoStar data, the largest being the 228-unit Glendale Campus, expected to deliver in mid-2024.
"Multifamily investors are drawn to Glendale because of its impressive school district, high employment rate, and large quantity of residents," according to a Matthews real estate report.
The Glendale apartment market has 3.8% vacancy, below the greater Los Angeles average of 5%, according to CoStar data. Rents in Glendale are up nearly 1% year-over-year, while greater Los Angeles rents are flat from the year prior. The market's average rent is $2,242, slightly above the greater L.A. average of $2,221.