Inglewood housing project appears to stall at 336 E. Hillcrest Blvd.

An Inglewood housing project appears to have stalled as construction activity has been nonexistent for months.

Hillside Hillcrest Ventures, LLC, an entity managed by Calabasas-based developer Hilldale Group, LLC and Forbix Financial, is working on revitalizing the former Spaulding Pharmacy building at 336 E. Hillcrest Blvd. which calls for 65 apartments and retention of commercial space on the ground level.

“Is anyone curious about why the construction has stopped? No one is asking so it remains looking half done,” said Marvin McCoy, a longtime Inglewood resident.

A few blocks west, developers backed out of a proposed mixed-use project development agreement with the City at 317 S. La Brea Ave.

The developer requested project entitlements that include density bonuses, permitting waivers from certain zoning rules. In exchange, the City of Inglewood would require that 18 of the new apartments be set aside for rent as affordable housing.

According to the developer, “the COVID-19 pandemic and changing market conditions, the Developer, despite its reasonable efforts, has been unable to commence and cause the construction and development of the Project in accordance with the time frames established in the Schedule of Performance (Attachment 3 of the DDA) and the development scope established in the Scope of Development (Attachment 4 of the DDA), and now request that the DDA be terminated in its entirety.”

“The project seeks to link together important nodes within the downtown Inglewood fabric, including Inglewood High School and Grevillea Art Park to the west, the Inglewood Transit Center and Market Street to the East, and La Brea Boulevard, Inglewood’s predominant thoroughfare to the North and South,” reads a narrative from the JZA website, which pointed to a groundbreaking date for the project in August 2024.

The City terminated the agreement for 317 S. LaBrea Ave. last month.

Both development projects boasted about their proximity to the Metro K Line and being located within newly created Transit Oriented Development districts, which are allowing massive high-rise buildings to penetrate the once quiet, working-class City.

Is the Inglewood real estate market bottoming out?