Etco Homes Is Keeping Focus on the Westside

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Etco Homes Is Keeping Focus on the Westside
Etco's Melrose-area condos are expected to come on the market later this year.

Etco Homes is working on new communities in Pacific Palisades, Little Tokyo and the area near Melrose Avenue in West Hollywood.

The Beverly Hills real estate developer originally focused primarily on single-family homes, starting in Orange County and the Inland Empire, when it was founded more than 30 years ago.

“We learned a lot about all types of developments — downslope, upslope, waterfront, all aspects of home building,” said Afshin Etebar, president of Etco Homes. “That’s where we got our teeth into and learned all about the business and custom and high-end homes. That’s where we really thrived.”

About 10 to 15 years ago, Etebar said, Etco began “looking at boutique, infill high-end or prime development areas” where the company could build condos.

“We started doing more with that direction and started developing in the Los Angeles area and looking for similar areas, boutique, high-barrier-to-entry communities,” he said.

According to Etebar, for much of the last decade, the company has focused on West L.A.,“where we are building strictly condominiums for sale.”

He said the company was “location driven.”

“Because we live and work in these communities already, we have a feel for where the up-and-coming or happening communities are. We’ve focused on West L.A. … We have communities in downtown and Pasadena as well, but our primary business is this side of town — La Cienega to the Palisades,” Etebar said.

Etco Homes has three current projects with units that will go up for sale this year.

When completed, One Coast will have 53 oceanfront townhomes and flats in Pacific Palisades. The homes will be 2,810 to 5,017 square feet and have concierge services and garages. The project, which is expected to open in the spring, has already started presales.

The Melrose Collection will be comprised of the Ainsley, Addison and Alfred properties. The Ainsley has 49 condos with common features that include outdoor dining, a hot tub, yoga room and recreation center. The Addison has 28 townhomes. Both will have a concierge and are expected to start sales in the summer and be completed in the fall. The Alfred will start sales in the fall.

The Ato will be a 77-condominium building in Little Tokyo. The building will have a doorman, lap pool and fitness center. Sales will start in late 2020, and construction is expected to be completed in June 2021.

“We’re looking for areas where homebuyers can walk and have different places to go to, areas of town where there are a lot of activities,” Etebar said of the neighborhoods where the three projects are located. “Every location you go to, you will get a little flavor of the high-end or uniqueness.

The company works with outside architectural firms on its projects but does entitlement work, construction and sales in-house.

Etco Homes has six projects in the works for the next few years and will open roughly 200 units this year and 200 to 300 in the next couple of years, Etebar said.

And while Etco Homes knows how to build single-family homes, that’s not in the plans for now, he said: “The way our business is set up, our business plan strictly calls for condominiums.”

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