Champion Real Estate acquired property along Sunset Boulevard in Echo Park for $9.5 million and plans to repurpose and remodel the property’s buildings to create a retail and residential complex called BrickWorks, the firm announced.
The site stretches from 1485 to 1501 West Sunset Boulevard and is currently occupied by one- and two-story buildings, one of which is currently operating as a grocery store. The property also includes the parking lot next to the grocery store.
The plan is to remodel the existing buildings and use the parking lot’s space to build residential lofts. The firm hasn’t determined yet how much of the parking lot will be used for residential space or how many housing units the project will include, a representative for the company told Curbed.
BrickWorks will feature about 15,000 square feet of retail space “that will create a trendy food-court-style collection of the latest eateries and restaurants,” Champion said in its announcement.
The property went up for sale in the summer of 2015. At the time, it was reported that the sellers were hoping to get $10 million.
A timeline for the project is currently unclear.
Champion is also building a 21-story tower with retail and residential components at Yucca and Arygle.