CityView has officially named its soon-to-be-built apartment community at 687 S Hobart Blvd in Koreatown.
The Pearl on Wilshire was celebrated last week with a naming ceremony complete with a traditional drum performance by Korean drummers. City lawmakers attended, including LA City Council president Herb Wesson Jr. and Korean American Chamber of Commerce president Lawrence Han.
The project, on a former parking lot at the corner of Wilshire Boulevard, will have 346 apartments and 8k SF of ground-level retail. There will be a swimming pool, business center, club room, dog wash, fitness center, rooftop deck, and private courtyards with fire pits and outdoor grills.
CityView CEO Sean Burton tells Bisnow CityView likes to develop "urban infill projects of this type" to allow the company to make better use of the city's underutilized land to benefit local residents.
Sean says there is strong demand for housing in the densely populated Koreatown.
A pearl is something "very fine and precious," says Sean. The building will "reflect the finest materials, the best design and the most innovative amenities," he says.
The Pearl on Wilshire is being built by CBG Building Co and designed by VTBS Architects. Hankey Investment Co is also an investor in the development.
The project will further LA Mayor Eric Garcetti's goal of 100,000 multifamily units being built by 2021 to help with the increasing demand for local housing, Sean tells us.
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