Hundreds of new homes could soon rise on a 19-acre field of dirt in Valley Village.
Developer Regent Properties submitted plans to build 303 homes on the enormous vacant radio transmitter site at 12755 Burbank Blvd., according to a planning application filed Sept. 29.
The company, which is headquartered in Sawtelle and Dallas, unveiled plans for a mix of two-story single-family homes on larger lots, plus three-story duplexes, townhomes and a 20,500-square-foot park on the lot between Bellaire and Coldwater Canyon avenues – one of the largest development sites to come on the market in Los Angeles in decades.
The proposal sets aside 14 of the 303 homes for very low-income buyers, planning records show. And that opens the door for Regent to apply for a density bonus from the city as well as a CEQA exemption to avoid the lengthy delays and litigation that often come with the state’s environmental impact review process.
“As a Valley neighbor myself raising my family four miles from the project, I am excited about our investment in a site that has been vacant for far too long,” Regent’s chief investment officer, Sam Kraus, said in a statement. He added that the company has a “goal to create a welcoming and lasting community where families can put down roots with new homes that meet their needs, while also delivering meaningful open space that benefits both future residents and the broader community.”
The sale
Regent’s proposal will close a chapter of history at the former transmitter tower field just north of Studio City.
The site had been used for radio broadcasting since September 1942, when KMPC 710 AM began transmitting from the three towers that still stand there today.
Media giant The Walt Disney Co. sold its KSPN Los Angeles license and several others to Good Karma Brands in 2021 for $15 million, but kept the land under the transmitters, as RadioInsight previously reported. KSPN moved off the site in September 2022 to prepare for redevelopment, ending broadcasting there after 80 years.
In 2025, Regent paid $72.6 million, or about $3.8 million per acre, to buy the development site, property records show.
Newmark’s Kevin Shannon, Chris Benton, Anthony Muhlstein, Sean O’Leary, Gabe Munson and Ken White arranged the deal for the seller, an affiliate of ABC, as Commercial Observer previously reported.
The huge lot had been marketed to investors looking to build housing, but Regent’s plans were not immediately clear.
The density math
Now that’s coming into focus. Previously, almost all of the 19-acre site was zoned for low-density single-family housing, while about two acres near Burbank Boulevard were zoned for slightly denser development with homes on about 3,000-square-foot lots.
But the North Hollywood-Valley Village Community Plan designates the site as Low Medium I Residential, and Regent contends that applies to all 821,673 square feet of the lot, producing a base of 274 new units.
Setting aside 14 units for very low-income households qualifies the project for an 11% density bonus, bringing the total unit count to 303, the application states.
Regent is also requesting an “off-menu” incentive to increase the project’s floor-area ratio – a measure of development intensity – to 0.86 instead of 0.65. And the company is seeking waivers to build to a height of 43 feet, instead of the 33 feet allowed in R1 residential zones. The minimum lot width across the new neighborhood would be 42 feet.
Without those waivers, existing standards would make the project infeasible, Regent argued in its application.
Site plan
The plan calls for rows of two-story homes lining the western, northern and eastern edges of the site next to existing single-family homes, plans show. Three-story homes would sit in the interior and along Burbank Boulevard, which is already lined with three-story apartment buildings. The main entrance to the proposed community will be on Bellaire Avenue, with a second entry point on Hatteras Street.
A spokesperson for Regent declined to answer questions about how the project will be financed or whether Regent has lined up a construction loan.
The case was assigned to city planner Ruben Vasquez and is now awaiting a hearing date, according to planning records.
Regent’s project joins other housing proposals in Valley Village. In 2025, the city approved developer Joseph Samuel’s 219-unit apartment project at 12500 Riverside Drive.
