Work begins on Westside condominium building

June 17, 2010 | 3:34 pm

Even though the region is cluttered with hundreds of unsold new condominiums, Los Angeles developer California Landmark broke ground this week on a $10 million condo development near Westwood.

Virtually all construction of multifamily projects halted in 2007 as credit dried up and the global financial crisis took hold. This may be the first ground-up multiunit residential development family project in Los Angeles since the crisis began that doesn't involve a bank-facilitated or restructured land loan, Landmark said.