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900-920 East Broadway
SOLD

City Of Glendale Acquires Development Site In Glendale For $12.1M

900-920 East Broadway

Development Site
clock iconSold 1 year ago
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Summary

Sale
CALIFORNIA
Development Site

The City of Glendale has purchased a development site located at 900-920 E Broadway in Glendale. The property spans 1.6 acres and includes several historic structures, which will be preserved. The transaction took place on January 8, 2020, with a sale price of $12,100,000. The development site has a building square footage (BSF) of 69,133, resulting in a price per BSF (PPBSF) of $175.02. The property is planned to be developed into a mixed-use project, with 52 senior units or 36 family units to be built on one of the properties, in addition to 80 new units. The purchase of this development site signifies the City of Glendale's commitment to expanding housing options.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $12,100,000
  • Building Square Footage (BSF): 69,133
  • Price per BSF (PPBSF): $175.02
  • Units: 132
  • Price per Unit (PPU): $91,666
  • Buyer: City of Glendale
  • Seller: Tobinworld

Kelly Betpolice, a representative from the agency, facilitated the transaction as the broker. The successful acquisition of this development site highlights the City of Glendale's efforts to address the housing needs of its residents. The preservation of the historic structures on the property adds a unique charm to this upcoming project. The City's commitment to providing housing options for seniors and families demonstrates their dedication to creating a diverse and inclusive community.

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Kelly Betpolice's profile picture
Kelly Betpolice
Kidder Mathews-image
Managing Principal
$83.7M Sold

Details

Deal Summary
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SOLD
IMAGE: Kelly Betpolice DATE: 01/08/2020 ADDRESS: 900-920 E Broadway MARKET: Glendale ASSET TYPE: Development Site PRICE: $12,100,000 BSF: 69,133 PPBSF: $175.02.02 UNITS: 132 PPU: $91,666 BUYER: City of Glendale SELLER: Tobinworld BROKERS: Kelly Betpolice NOTES: 1.6 acres and includes several historic structures, which will remain. Plan for the project includes developing one of the properties into 52 senior units or 36 family units, in addition to building 80 new units.

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Address900-920 East Broadway

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