BISNOW: The Deal Sheet

Symphony Development


Symphony Development, which specializes in student housing and college-related mixed-use projects, bought a 1.5-acre US Postal Service site (9534-9546 Reseda Blvd), one block west of Cal State Northridge for $5.5M. The buyer plays to redevelop the site, now occupied by an aging one-story post office, when the lease expires in six years. According to Colliers’ Jeff Gould, who repped both sides, the Northridge Specific Plan calls for higher-density development over the next decade in this region, including multifamily housing and mixed-use retail development.
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