Valley Village's Biggest Housing Site in Decades Is Going For-Sale. Why Is That So Rare?

Three radio towers still stand on a 19-acre field of dirt on Burbank Boulevard, between Bellaire and Coldwater Canyon avenues. KMPC 710 AM started broadcasting from them in September 1942. KSPN moved its signal off the site in September 2022, ending 80 years of broadcasting there. The Los Angeles Business Journal called it one of the largest development sites to come on the market in Los Angeles in decades, and on September 29, 2026, Regent Properties filed plans to build 303 homes there.

All 303 of those homes would be for sale. In Los Angeles right now, a project made up entirely of for-sale homes is unusual, and so is a timeline that has buyers waiting until the end of the decade. For anyone comparing Valley Village with Studio City, Sherman Oaks or North Hollywood, this parcel and one nearby lot help show how much new ownership housing is actually headed for the neighborhood, and why there isn't more.

Three Towers, 19 Acres, and a Case Marked "On Hold"

Regent paid $72.6 million for the land in July 2025, about $3.8 million per acre, according to property records cited by the Los Angeles Business Journal. An affiliate of ABC was the seller. The plans call for two-story single-family homes on larger lots, three-story duplexes and townhomes, a 20,500-square-foot park, and 727 parking spaces.

The public City Planning case record shows how early this is:

• Filed: September 29, 2026, and assigned to staff on September 30
• Accepted for review: not yet, listed as N/A
• Hearing date: none set
• Status: "On Hold"
• Zoning: RD3-1 and R1-1
• Neighborhood council: Greater Valley Glen, in Council District 2, even though news coverage places the site in Valley Village

Regent's own project FAQ estimates that construction will start in 2028, a date it says could change, and will include taking down the deactivated towers. The same FAQ estimates about 30 months of construction and says homes will become available to buy closer to a grand opening it expects in 2029. The FAQ doesn't explain how a 2029 opening fits with a 30-month build that starts in 2028. Either way, by the developer's own estimates, the first sales are about three years away, and only if the approvals go smoothly.

The Colfax Lot Shows What Usually Happens Instead

Valley Village's infill lots show the more common outcome. In October 2017, Urbanize LA reported that Peterberg Companies proposed 12 single-family homes on the 5137 to 5149 N. Colfax Avenue site under the city's small-lot rules. They were never built.

In June 2026, Urbanize LA reported a new application for the same lot. An entity associated with Angeleno Investments proposes a six-story podium building with 95 one- and two-bedroom apartments and 32 ground-floor parking spaces, designed by Category Company. Because the plan mixes low- and moderate-income units, it qualifies for city housing incentives that allow a bigger building than the base zoning would.

The same parcel went from a proposal for a dozen single-family homes to a proposal for a 95-unit apartment building. Public records don't give a reason for the change. They do lay out the incentives each type of project faces.

The small-lot ordinance was the tool that used to make for-sale infill possible here. Los Angeles adopted it in 2005 so that fee-simple homes could be built on smaller lots in zones that already allowed apartments. North Hollywood saw clusters of these projects, including WCH Communities' 14-home Morrison 14 on Morrison Street and its 18-home Blu on Craner Avenue. In March 2018, the city updated its small-lot standards with the stated goal of reducing earlier incentives, adding larger setbacks and lowering maximum lot coverage. The newer incentive programs reward affordable and mixed-income buildings with density, height and parking relief, according to City Planning's description of its Citywide Housing Incentive Program.

Why a For-Sale Home Costs More to Attempt

On top of the zoning incentives, ownership housing carries risks that rentals don't. Three of them show up in the documents behind this post.

The Terner Center's March 2026 commentary reports that new condo construction in Southern California and the Bay Area has fallen about 90% from its 2005 to 2006 peak. It cites a report finding that condo developers often pay three to four times as much for insurance as they would for similar rental buildings. One insurance broker interviewed for that study estimated that 80 to 85 percent of the condo projects he had insured were later sued over alleged defects.

The presale point comes from a 2018 Urbanize LA opinion piece written by a developer, so it is one builder's argument. That piece also said for-sale subdivisions go through map review, public notice, hearings and appeal exposure that comparable rental projects can sometimes skip.

Apartments Are Struggling Too, Which Makes the Burbank Bet Stand Out

Apartment development faces its own problems. The Los Angeles Times reported on September 22, 2026 that the average multifamily sale price per unit in L.A. County fell from $397,289 in 2022 to $280,591 in 2026, citing Kidder Mathews. In the first half of 2026, 2,376 new apartment units were completed countywide, nearly 9% fewer than the same stretch the year before. Developers in that story named high interest rates, tenant protections dating to the pandemic, and Measure ULA, which taxes city property sales above $5.4 million at 4% or 5.5%, including apartment buildings.

The same Times report found that many builders have shifted to smaller, safer products such as ADUs, townhouses and single-family homes. That helps explain Regent's plan. On 19 acres zoned RD3-1 and R1-1, low-rise for-sale homes match both the zoning and where the market has been heading. The plan also uses an affordability provision. According to the Los Angeles Business Journal, setting aside 14 homes for very-low-income buyers lets Regent apply for a city density bonus and a CEQA exemption, avoiding the long delays and litigation that often come with environmental review. Urbanize's first report described the set-aside as five percent. The planning records support the figure of 14 homes.

Even so, defect liability may still matter at Burbank Boulevard. The waivers in the case file refer to "proposed subdivided condo lots" and condo-lot facilities. Regent's public FAQ doesn't say whether homes would be sold fee-simple or as condominiums, and it doesn't give expected prices. If some or all of the homes end up legally structured as condos, the HOA, defect and presale rules described above would apply to how the project is financed and sold. That question will be settled during the approval process.

The Calendar a Valley Village Buyer Is Working With

Put together, the public record lays out a fairly clear sequence:

1. Next steps: The Burbank Boulevard case is waiting to be accepted for review, given a hearing, and decided by the City Planning Commission, which has to approve its density bonus incentives.
2. 2028: Regent's projected construction start, including removal of the towers.
3. 2029: Regent's projected grand opening, when homes would go on sale.
4. In the meantime: Infill lots like the Colfax site are being proposed as apartment buildings, and the approved 219-unit mixed-use building at 12500 Riverside Drive is also an apartment project.

Going by the developer's own estimates, none of the new projects in this pipeline puts for-sale homes on the market before 2029. For a buyer weighing Valley Village against nearby neighborhoods today, the available ownership options are the condos, townhomes and single-family homes that already exist. Those existing homes also won't face new-construction competition from this parcel for years.

Frequently Asked Questions

Is 12755 Burbank Boulevard in Valley Village? News coverage calls it Valley Village. The city's case record lists it under the Greater Valley Glen Neighborhood Council in Council District 2.

Has the 303-home project been approved? No. As of the case record reviewed in early October 2026, it was on hold, not yet accepted for review, and had no hearing scheduled.

How do the affordable for-sale homes work? Regent's FAQ says prices are set using income limits tied to Area Median Income. Eligible buyers must live in the home as their primary residence, and the home stays affordable for future buyers. The project sets aside homes at the very-low-income level.

Has construction started at 12500 Riverside Drive? The latest dated status found, a December 2025 project update from Urbanize LA, still listed it as approved. That page doesn't confirm whether ground has been broken.

Timing a purchase around a pipeline like this calls for clear numbers and a steady plan. If you're comparing existing Valley Village homes against what may be built years from now, Sally Greene can help you compare the real options, list the questions to ask about any HOA, and build an offer strategy based on what's actually available today. Let's Connect.

This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.