In West Hollywood, where the world’s elite work, live and play, there has been something missing from the community that has had local home owners and city officials working tirelessly to right over the last few years. Now, after much hard work and planning, a project to rebuild an important park for the community is rapidly approaching its kickoff.
For at least six years, plans to overhaul West Hollywood Park have been stopping and starting at a frazzled pace. The project began as home owners in the area called for a larger and more inviting green space where residents could relax and enjoy themselves, and in three years it could finally be fully realized. Irvine architectural design firm LPA Inc. recently submitted what could be the final set of design plans for the space. If approved, construction on the park could begin by this fall and will be projected to finish by summer 2018.
Among the park amenities that have been included in the design are a brand new aquatic and recreation center, a play area for children, an AIDS monument, plenty of green space and a dog park. The dog park has been a particularly contentious focus of the West Hollywood Park redesign as Mayor John D’Amico has gone back and forth with the city council to make sure the city’s four-legged residents are as well provided for in the new developments.
“We have 400 kids who live in this city, and we have 30,400 adults who have dogs,” D’Amico said in his objection to an early design that had no dog park but multiple children’s play areas as reported by local news source WEHOville.
In addition to the finalized $750,000 dog park, a brand new aquatic and recreation center is slated to be constructed to provide a new and improved gathering place for community events and recreational activities.
West Hollywood Home Market Update
With the anticipation of this and many more similarly exciting projects in the works, West Hollywood is quickly becoming one of the most popular communities in the Los Angeles metropolitan area. According to Altos Research, a California-based real estate analytics company, this is helping home values in West Hollywood to climb even as the amount of properties available is edging up.
Altos reports that as of January 30 the median single-family home value in West Hollywood is $2,975,512. This value is currently on an increasing trend, as it has been for most of the last year.
What’s truly remarkable is that inventory seems to have remained relatively stable here. There are currently about 95 properties available on the market, which is just a slight uptick over the last few weeks. Inventory peaked in August right around 106 properties and has edged down just a little bit, which has given home buyers interested in the community an ample amount to work with throughout the slower winter months. As spring edges nearer, inventory is expected to grow even more making for a great buying season.
If you are interested in learning more about Hollywood luxury homes for sale, please contact our team of luxury property agents today.