Project Rendering
LOS ANGELES-The Holland Partner Group has broken ground on a 210-unit, $60 million apartment project at 1111 Wilshire Blvd. in Downtown Los Angeles that will include nearly 8,000 square feet of retail space. The project, a seven-story structure on the site of a former parking lot, is the third in a series of five developments by the Holland Partner Group west of the 110 Freeway in Downtown L.A.
The apartments at 1111 Wilshire will range from studios to three-bedroom units and from 527 square feet to 1,319 square feet. Common area amenities will include a fitness center, a poolside resident lounge and adjacent outdoor kitchen, roof decks with views of Downtown L.A., and the on-site neighborhood retail/restaurant space.
The project is being financed by a participating mortgage with UBS that is being funded through construction and will remain in place afterward. The loan will disburse to $57.6 million as Holland builds the project. Design is by Nadel Architects, along with a design team that includes Markie Nelson Interior Design, LRM Landscape Design, Hall & Foreman Civil Engineering and Masoud Dejban Inc., Structural Engineers.
Tom Warren, chief operating officer of development at the Holland Partner Group, says the new development "is tailored for the needs of the urban professionals who have selected Downtown L.A. as their home.” Warren notes that the development site is blocks from the Central Business District’s 450,000 jobs, shopping, dining and entertainment.
The groundbreaking for the 1111 Wilshire building follows two other Holland Partner developments in Central City West: the 201-unit $65 million residential complex named GLO at Wilshire Boulevard and Bixel Street, and the 77-unit Bixel House at Sixth and Bixel streets.
The Holland Partner Group was launched in the spring of 2001 "to create new residential communities in of the West Coast’s most desired locations while improving both the quality of life for its residents and the developments ties to the community," the company said in an announcement regarding its new project. Founder Clyde Holland, the announcement notes, "has been at the forefront of developing residential communities in urban locations conducive to pedestrian walk-ability, and transit."
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