A new mixed-use condominium development is coming to Silver Lake, according to an announcement from real estate investment banking firm George Smith Partners. The project, a joint venture between Barth Partners and Barry Leddy Development, is taking out a $21.6 million construction loan for the build.

The condos will be located at 3400 Sunset Blvd., right next to the Micheltorena Stairs. Plans call for the structure to be five stories, housing 35 living units, plus a restaurant space at the ground floor. Pools, a roof deck, gym, and resident conference room space are also included in the rendering.

According to George Smith Partners, it’s the first luxury condo build in Silver Lake in over a decade.

Barth Partners is no stranger to the Silver Lake area, having just wrapped up 10 small-lot homes in the neighborhood earlier this year. In general, Silver Lake projects are few and far between, however. A recent study shows that the local zip code (90026) is among the toughest in the country for new builds.

A timetable has not yet been set for the 3400 Sunset Blvd. project.