PHASE I OF NOHO COMMONS OPENS LOFT PROJECT ON THE MOVE

PHASE I OF NOHO COMMONS OPENS LOFT PROJECT ON THE MOVE.

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Byline: RACHEL URANGA Staff Writer

NORTH HOLLYWOOD -- The first phase of NoHo Commons -- a massive retail, loft and apartment complex that has drawn a half-billion dollars in investment -- opened Monday.

The 292-unit residential loft complex, strategically located at the edge of the Red and Orange lines terminus, was hailed by developers and city officials as a transit-friendly project. It was billed as an affordable complex that should draw the likes of artists, teachers and firefighters, but some artists at the event said they would find it hard to come up with the rent.

``It's nice,'' said Preston Craig, as he painted NoHo in orange letters on a canvas. ``But the irony is that artists can't afford to live here.''

The loft units range in price from about $1,400 for a 580-square-foot unit to $2,500 for a 980-square-foot one. Officials hope that it will encourage transit use among residents.

The $100 million loft complex is the first of three phases funded in part with $37 million in local, state and federal grants.

It will include a 438-unit apartment and condo complex and retail center with a HOWS market that will open in 2007. About 20 percent of the units will be set aside for low-income renters.

Developers also announced they will break ground on a seven-screen art house theater and retail complex across the street to open in 2009.

``This is a place where you can live, work and use public transit,'' said Mayor Antonio Villaraigosa. ``It's what we have got to see a lot more of in this city.''

rachel.uranga(at)dailynews.com

(818) 713-3741

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2 photos

Photo:

(1) Jennifer Berry, a ballet dancer, takes part in the NoHo Commons ribbon-cutting ceremony Monday. About 20 percent of the units will be for low-income renters.

(2) Mayor Antonio Villaraigosa busts out a smile for sculptor Erin Barrett during Monday's ribbon-cutting ceremony.

Tina Burch/Staff Photographer