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California Landmark Group has completed the 100-unit M1byCLG (“M1”), the largest multifamily development in Los Angeles’ Silver Lake submarket since 2015
“It was important that our design fit within the fabric of this architecturally significant region of Los Angeles,” said Kahan. “M1’s classic industrial design, pays homage to historic Silver Lake and is reminiscent of the original manufacturing buildings constructed here in the early 1900’s. The property has been well received by the community which is reflected in the tremendous leasing velocity we have experienced,” he said.
To ensure the authenticity of the exterior structure CLG worked with PK Architecture to include oversized manufacturing-style windows, exterior standpipes and traditional fire escapes. The unit mix includes junior and traditional one-, two- and three-bedroom floorplans along with several co-living suites. Each apartment home features floor-to-ceiling windows, stone countertops, stainless steel appliances, in-unit washer and dryers, walk-in showers and private patios. Common area amenities include a fitness center, co-working space and a roof-top deck with pool and spa, barbecues, and unobstructed views of the Hollywood Hills. The six-story structure is built over a subterranean garage with parking, and a lobby that pays homage to Herman Silver, the former chairman of the Los Angeles Water Commission whose idea was to create a reservoir surrounded by homes and parks that is now Silver Lake.
Located at 1221 Myra Avenue on the southwest corner of Fountain Avenue, M1 is within walking distance to Sunset Junction, considered the heart of Silver Lake, with its many restaurants and cafes, shopping and entertainment venues. It is also within a 10-mile drive of the major job centers of downtown Los Angeles, Pasadena, and Century City. M1 is also served by the nearby Vermont/Sunset station on the Metro B Line that runs between North Hollywood and downtown Los Angeles, with connections throughout the Greater Los Angeles metro.
Silver Lake boasts an inventory of approximately 7,500 rental units with the majority built in the 1950s. M1 is the largest multifamily development to be delivered to the market since 2015, according to data from CoStar.
M1 is currently 60% leased.
Mesa West Capital Originates $84.75 Million to recapitalize two Los Angeles Luxury Apartment Buildings Developed and Owned by California Landmark Group.
The refinance was secured by two residential communities, the “HW” by CLG, a 79-unit low-rise boutique courtyard building in Hollywood and the “BW” by CLG, a 78-unit mid-rise apartment community in the West Los Angeles neighborhood of Brentwood.
“Both properties are located in strong pockets of Los Angeles with high renter demand,” said Executive Director Josh Westerberg who led the origination team out of Mesa West Capital’s San Francisco office. “The bulk of the multifamily inventory in these submarkets are older product and both of these properties stand out as high-quality options for tenants looking for better amenities and high-quality interior finishes.”
The HW is located on Hollywood Boulevard between Laurel Canyon and Fairfax Avenue and features a mix of one- and two- bedroom floorplans ranging in size from 698 to 1,360 square feet. Each unit offers 10’foot ceilings, Bosch appliances, full size washer and dryer, designer finishes including stone countertops and backsplashes, lighting fixtures, and wood plank flooring. Community amenities include rooftop deck with views of downtown Los Angeles and the Hollywood Hills, pool and spa, private screening room, and a cardio and weight center.
The BW is located at the northeast corner of Barrington Avenue and Wilshire Boulevard, approximately five miles from the City of Santa Monica and the Pacific Ocean. The one-, two- and three-bedroom apartment homes offer a similar amenity package as the HW. The building features a rooftop lounge with outdoor kitchen and grilling pavilion, 24-hour cardio and weight studio, and a ground floor restaurant operated by noted chef Ramin Nouri.
California Landmark Group (CLG) has announced the completion of the final phase of G8, the largest multifamily/commercial development in Marina del Rey’s Marina Arts District. The $120 million project includes 228 rental units and 25,000 square feet of creative office space.
CLG was a forerunner in the transformation of the former industrial zone into a modern residential neighborhood, when it developed a 52-unit condominium in 2006. With G8, CLG is the neighborhood’s most prolific developer, having delivered nine mixed-use projects totaling nearly one million square feet of residential and commercial space.
Paying homage to the area’s history as an industrial and artist’s enclave, CLG commissioned local, national and internationally renowned street artists to create colorful interactive art throughout the neighborhood. Featured artists include Risk, Colette Miller, Oli-B, Bunnie Reiss, Ducexone, Wrapped, James Goldcrown, Beau Stanton and Damon Martin. Future exhibits will include a 350-foot-long freewall available to local artists.
“Our goal is to enhance community identity and provide a sense of place,” said CLG founder Ken Kahan. “Street art is the beginning of that identification. Once the pandemic is behind us our public park and freewall at G8 will attract local residents to listen to lectures, concerts and simply enjoy our rotating art exhibit. We hope to attract other artists to other buildings in the community, with the long-term goal of creating a Westside street art district.”
“G8 and the other CLG projects in the Marina Arts District (including R1, R2, R3, C1, Del Rey Lofts, West End Condos, the Boatyard and the Container Lot) were designed to meet the demands of millennials and young professionals attracted to the lifestyle amenities and numerous employers that have made the Westside beach communities one of the most in-demand rental markets in Los Angeles and in the country,” Kahan said.
G8 is situated close to the work and tech/entertainment hubs of Santa Monica, Culver City and Playa Vista, which count Facebook, Google, Amazon Studios and Snap among the pool of major employers. It is less than five blocks from Marina Del Rey, the beach, the coastal bike path, shopping, restaurants, art galleries and more. Venice Beach’s trendy Abbot Kinney Boulevard and Santa Monica’s Main Street are both minutes away.
G8, the length of a city block, with frontage along Beach Avenue between Glencoe and Del Rey Avenues, features a mix of single, one-, two- and three-bedroom units ranging in size from 550 to 1,500 square feet; 23 units are earmarked for affordable tenants. It also includes 68 co-living suites. The amenity-rich development features 18,000 square feet of exterior common areas, including a public pocket park, swimming pool, spas, and an 8,000-square-foot rooftop deck with outdoor grills and lounge seating. G8 contains more than 10,000 square feet of shared indoor workspaces, a private movie theater, game room, fitness center and a yoga / stretching studio. The development also includes street level creative office space, designed as a colorful arrangement of cargo shipping containers that serves as the northern gateway to the Marina Arts District.
“As a result of G8’s terrific location, finish level, amenities, pocket park and street art, it is now more than 80 percent leased and is on target to be fully leased before the end of the year, said Kahan.
Nearly half of G8’s new residents are from outside Southern California, including a large percentage from the East Coast.
California Landmark Group (CLG) has completed construction of C1, the first large multifamily development in Los Angeles to feature co-living housing. C1 includes 51 luxury market-rate studio, one- and two-bedroom apartment homes. C1 also includes 17 fully furnished co-living units, with floorplans ranging from three to six bedrooms, each specifically designed for communal living.
“While the co-living units are larger and fully furnished, which makes them more expensive to develop, the cost per bedroom drops and we can provide individuals more affordable housing options than traditional rental units,” said CLG President Ken Kahan. “This product is a logical outgrowth of the societal trends that have led to the success of WeWork, Uber and many other shared experiences. It’s application to housing, particularly in Los Angeles where rent-burdened tenants can pay as much as 50 percent of their income on rent, was inevitable and we’re proud to be at the forefront.”
Each co-living unit, which averages 1,650 square feet, includes three-to-six bedrooms with a private or shared bathroom, fully equipped modern kitchen, living and dining areas. Each member in a co-living unit also has access to shared communal spaces such as rooftop patios and pool, gym and other common areas, all designed to foster community and social interaction. The large main floor lobby features a communal kitchen and doubles as a co-working and event space.
Leases for the co-living spaces are designed with flexible terms, and rent includes all utilities, special events, building-wide WiFi, shared supplies, as well as communal services like home cleaning, with the option to add on other services like wash-and-fold laundry and dog walking.
To perfect the communal experience CLG has engaged Starcity, a San Francisco-based pioneer in community-based living, to oversee property management and programming for the both the co-living and market rate units.
“We believe that as Los Angeles continues to experience a housing crunch, developments that offer multiple solutions to different types of LA residents will be key to keeping housing affordable for all,” said Starcity co-founder & CEO Jon Dishotsky. “We’re proud to work with CLG, who understands Starcity’s vision and has the expertise to help us bring co-living to life in one of West Los Angeles’ more vibrant communities.”
C1 is located at 4210 Del Rey Avenue, one block east of Lincoln Boulevard in Marina del Rey’s Arts District. CLG also is developing the nearby 230-unit G8, its seventh and largest apartment project in the Marina Arts District since entering the market in 2006. With the completion of G8 in the fourth quarter of 2019, the Los Angeles based real estate investment and development firm will have invested more than $350 million in the area delivering more than 725 apartment units.
