6 Developments Transforming Santa Monica Boulevard
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We already told you about some of the mega-projects that will reshape Sunset Boulevard and Figueroa in red hot Downtown LA. Now, Bisnow will take you for a walk down Santa Monica Boulevard. Here are a few of the projects transforming the thoroughfare.
Santa Monica Boulevard traverses much of the area, and as the city builds, Santa Monica Boulevard will transform with the LA construction boom. These projects run all the way from East Hollywood to Beverly Hills.
Location: 7141 Santa Monica Blvd—Formosa Avenue (on the West) and Detroit Street (on the East) and Santa Monica Blvd
Players: Trammel Crow Residential, Studio One Eleven
The Domain will add a six-story mixed-use building with 166 apartments and more than 9k SF of commercial space. There will also be two levels of underground parking. Expect this project to complete in March 2016, though it was initially supposed to complete at the end of 2015. The Domain has been leasing units since January, so buy up if you want to live near The Lot and the historic Formosa Café.
10000 Santa Monica Blvd
Location: Beverly Hills/Century City border
Players: Crescent Heights, Handel Architects
This 40-story, $300M high-rise will complete in 2016. Expect 283 residences, landscape gardens, pools and a tennis court. This high-rise will be at the entrance of Century City when coming in from Beverly Hills. A fancy restaurant called Jimmy’s occupied these grounds until 2000. Crescent Heights bought the land from SunCal Cos. in 2010 for $59M.
Avalon West Hollywood
Location: North Martel Avenue (on the West) and Fuller Avenue (on the East) and Santa Monica Boulevard
Players: Avalon Bay Communities, MVE & Partners
400k SF of what used to be called Movietown Plaza has been under construction since June 2014. There will be 293 housing units and more than 32k SF of retail space. Returning will be the Trader Joe’s that was the last remaining business before demolition of the space.
One Beverly Hills
Location: 9900 Wilshire Blvd—Wilshire Blvd and Santa Monica Blvd
Players: Wanda Group, Athens Group
China’s largest commercial property developer and the owner of the AMC theater chain will build a 134-room hotel right next to the Beverly Hilton Hotel. In addition, the current plan will have 193 residences and more than 1,000 parking spaces. This place was once home to the Robinson-May department store. Wanda bought the property for $420M in 2014. The project is expected to finish in 2017 and will mark another key investment in the LA area by Chinese property developers.
Old Sears Building Redevelopment
Location: 5601-5667 Santa Monica Blvd—St Andrews Place and Santa Monica Boulevard
Sitting empty since 2008, CIM purchased these 5.3 acres for $43.5M. The firms plans to build 700 apartments and 300k SF of retail on the site. When finished, the project will revitalize this stretch of East Hollywood. CIM purchased this property from Continental Development Group in 2015.
Santa Monica Boulevard Upgrade
Location: Beverly Hills stretch of North Santa Monica Boulevard from West Hollywood to Wilshire Boulevard.
A $29M project that will modernize decaying roads and upgrade the century-old drainage system between Doheny Drive and Wilshire. There will also be new street lights and a widening of the street on the south side between Canon and Wilshire.