Los Angeles/ Real Estate & Development
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Published on May 07, 2024
Burbank Set for Major Expansion with 1,000 New Housing Units and New Hotels by 2025Source: Trougnouf (Benoit Brummer), CC BY 4.0, via Wikimedia Commons

Burbank, a powerhouse destination for media giants like Walt Disney World Headquarters and Warner Bros/Discovery, is slated to experience a notable transformation with nearly 1,000 new housing units and multiple hotels on the horizon, according to a report by What Now Los Angeles. Spearheading this growth is LaTerra Development's mixed-use project featuring 573 housing units, expected to open doors by January 2025, which is now under construction adjacent to Downtown Burbank's Metrolink station.

The multi-use complex, according to LaTerra's official documentation, will include an impressive 40,000-square-foot rooftop deck with a lavish pool, stylistic spa, cozy cabanas, and fuel-efficient fire pits, as well as a transit plaza spreading across 30,000 square feet; furthermore, a 307-room hotel will cater to the needs of visiting professionals and tourists alike, details obtained from LaTerra Development reveal. LaTerra's Managing Director Chris Tourtellotte emphasized the development's synergy with Burbank's creative sector, stating, "What we are building is designed ideally for the creative workforce that drives the city’s entertainment sector."

First Street Village is another significant player in this urban reshuffle, adding 275 apartments intertwined with 18,876 square feet of retail real estate---not to be outshimmered, the proposed AC Hotel is expected to dazzle with a six-story, 196-room business travelers' retreat, complete with high-end amenities according to the report by What Now Los Angeles. These developments are a part of a strategic effort to bridge Burbank’s job-rich but housing-scarce market which currently posts a staggering 3.5 jobs per household, the highest ratio in California. With every brick in place, the economic landscape of downtown Burbank is priming up for an influx of new residents and rising local business revenues.

The entire undertaking is set against a backdrop of established entertainment venues and gastronomic delights with Flapper’s Comedy Club, Finney’s Crafthouse, and Urban Press Winery already contributing to the city's lively milieu, and nine additional shops and eateries queued up for a grand opening in 2024, a milestone that seems to herald a favorable uptick for merchants and restaurateurs in the area. For high flyers and support staff alike in the city known as the "Media Capital of the World," this expansion is not just a real estate trend but a promise of an enhanced lifestyle, heavily punctuated by connectivity, sustainability, and city vibrancy that align well with the creative pulse of Burbank.