History and description
LaTerra Development was founded by Charles Tourtellotte in 2009, who is presently serving as Chief Executive Officer [8] of the organization. [9] [10] Chris Tourtellotte, [11] son of Charles Tourtellotte is presently serving as the managing director of the firm. [12] In 2015, El Monte City Council in collaboration with LaTerra Development announced the mixed-use residential-commercial project, the Garvey Square. [13] [14] The project was the first project under the City Council's "new mixed-multi use zoning and development regulations adopted in 2011 for the Garvey Corridor". [15] [16] In September 2015, China's Gemdale Corp partnered [17] with LaTerra with the aim to build a six-story residential and commercial complex near Sunset Boulevard in Hollywood. [18] [17] [19] [20] [21] During August 2016, LaTerra started the construction of two infill apartment projects totaling 325 units at Santa Ana and Chula Vista, California. [22] In April 2018, LaTerra entitled 'a mixed-use collection of townhomes' in Pacific Highlands Ranch, San Diego, the project was later sold to KB Home. [23] In April 2019, LaTerra announced the commencement of a multi-use project at Burbank, California. [24] The Project was named as LaTerra Burbank and it included 573 apartments in two towers and a seven-story, 307-room hotel with a total worth of US$375 million. [12] [25] In June 2019, LaTerra launched two apartment complex projects namely Broadway & Cloverfield in Santa Monica. [26] In March 2019, LaTerra received the approval for the 96 unit apartment complex in Los Feliz as part of a 246 unit assemblage. [27]
In June 2019, Orange County Register reported that LaTerra's new apartment project in Santa Ana was sold for $101 million or $445,000 per unit. [28] [29] In June 2020, LaTerra Development initiated a joint venture with QuadReal Property Group where the latter invested US$250 million. [30] [31] [7]
In July 2020, LaTerra started a redevelopment project in West Hollywood area, in the location of Madison Car Wash, a vintage car wash facility established in 1964. [32] The West Hollywood Preservation Alliance claimed historical significance in the existing two-story building car washing facility of the Madison Car Wash, which was designed following neo-Googie style. Though West Hollywood Daily News reported "the historic value was not enough to save the vintage car wash" and accordingly the structures were dismantled and a 71 apartment units and 8700 Sf of retail is under construction in its place. [33] [34] [35] [36]
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