JSM Construction Completes North Hollywood Land Assemblage, Will Build

2 Mixed-Use Projects With 299 Apartment Units

JSM Construction, a Santa Monica-based developer, has acquired four separate land parcels in North Hollywood totaling 92,677 sq. ft.

The parcels were purchased from private investors for a total consideration of $9.1 million. JSM plans to develop two mixed-use projects, which will include a total of 299 apartment units as well as ground-floor commercial space.

JSM recently closed escrow on the last of three parcels with a combined purchase price of over $3.3 million. The developer will build the Imperia Apartments on the 33,000-sq.-ft. site, which is located at the southwest corner of McCormick Street and Blakeslee Avenue. The project will include 103 apartment units and 3,000 sq. ft. of ground-floor commercial space. Completion is slated for 2006.

Late last year, JSM purchased a 59,677-sq.-ft. parcel at 11049 Magnolia Blvd. for $5.8 million. The Milano Apartments, which will include 196 apartment units and 10,000 sq. ft. of ground-floor commercial space, is planned for this site. This project also will be completed in 2006.