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Thursday, Jun 30, 2022

Sadeghi’s LAB Pays $10M for Anaheim Sites

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LAB Holding LLC in Costa Mesa will buy four development sites from the city of Anaheim for $10.1 million.

LAB founder Shaheen Sadeghi developed the Packing House, a food hall in the city.

The new commercial and mixed use development projects, set to be completed by 2019, will add “unique and authentic content to Center City Anaheim, expanding and sustaining the success of the Packing District, Center Street and new urban residential communities,” Anaheim community and economic development staff wrote in a report to city council members.

The four projects include

The Packing District’s 10,510-square-foot Make building, which will house three to four “makers” involved in onsite craft brewing and wine production.

Business Arts Residential Network (BARN), a new two-story building with retail, restaurant and office spaces at Center and Lemon Streets. A hotel or multi-level apartment complex of no more than 25 units will be built behind BARN to “fit the urban scale and architecture of the Center Street.”

HomeMADE, an 89,190 square-foot townhouse community, with up to 80 “live-work” units to be built along Santa Ana Street and bordered by Claudina and Olive streets.

Restoration of a 2,750-square-foot historic Craftsman Home and the 5,600-square-foot Barrel Building next to it at the corner of Anaheim Boulevard and Water Street. Site development will include up to 16 residential units, a new construction.

LAB Holding must deposit in escrow $7.6 million and a $2.5 million promissory note secured by the HomeMADE property deed, according to a city staff report.

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