The redevelopment of 19500 Ventura Blvd. in Tarzana into a medical professional building, has reached the halfway point marking a critical milestone that will lead to substantial completion by the end of 2021.
Greenbridge Investment Partners, a full-service commercial real estate firm, is the project developer for the $4.5 million renovation. of the 45,000 sq. ft. complex.
The new $624 million Providence St. Joseph and Cedars-Sinai redevelopment project, which is located just 1.5 miles away, is expected to be completed in 2023, the developers say
“Despite the pandemic’s construction challenges, we’re set for a timely completion without sacrificing the ambitious design elements that truly make this project special,” Steve Vasquez, asset manager of Greenbridge Investment Partners, said in a Aug. 31 statement. “Elements such as a large open-air atrium, a living wall, and ground-floor dining make this a very attractive location for both providers and their patients.”
Designed by architect Harley Ellis Devereaux, the redevelopment includes an open-air atrium will provide outdoor seating, and the living wall will use greenery to frame the ground-floor walkways.
The building will feature filtration systems, open hallways, and open-air walkways. It is among the first new medical properties scheduled for completion in the post-pandemic era.
“Tarzana has become a hub for healthcare in the San Fernando Valley and this project provides much-needed supply to meet the high demand, particularly among those seeking space near the Providence Cedars-Sinai Tarzana Medical Center,” said Scott Romick, managing director and principal of Lee & Associates – LA North/Ventura. “As a full building renovation of everything from the façade to all-new contemporary interiors and tenant community lounge areas, this property will be a magnet for medical professionals seeking an excellent location with a variety of amenities nearby.”
