Developers Planning Project

The Rush to Develop Every Last Plot of Land in the Inland Empire Area

According to GlobeSt.com, September 6, 2016, Developers are picking up every last development site in the city, no matter the size. “Demographics, technology and economics are influencing the evolution of development at a more rapid rate than before. The continued demand for housing and relative lack of newly built product in this area has created a need for more units,” according to a representative at a Los Angeles real estate brokerage. A 21,000-square-foot land site (less than a half acre) located at 646 North Virgil Avenue in Silverlake in Los Angeles County has traded hands between a property trust and a developer for $2.6 million. The site is located in a neighborhood with a high demand for housing, and the zoning allows for the development of 26 units.

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