The giant retaining wall that snakes high above Riverside Drive west of Fletcher Drive and another mark the spot where property owners have long planned to build a large residential project. Now, the property owners have put the approximately six acre parcel – called RiverGlen 120 – up for sale for $10.5 million. What can you do with a narrow strip of of land wedged between a steep hill topped with retaining walls and across the street from the 5 Freeway? How about build 120 condos stacked four stories high above two stories of parking, according to the property listing and renderings. The wall of condos would stretch about 1,000 feet along Riverside Drive to the west of an existing apartment complex that also stretches about another 1,000 feet.
While the view of the 5 Freeway may not be a selling point for future condo owners, the listing mentions that the parcel is “very walkable to multiple fitness studios, cafes, boutiques” and near a Gelsons and Trader Joe’s. The property is also close to two other developments, one up the hill on Waverly Terrace and the other on Rowena Avenue, that will add more than 100 units of housing to the north end of Silver Lake (see map below).
View North Silver Lake development in a larger map