(Save the date: RealShare Apartments comes to the Westin Bonaventure, Los Angeles, October 24.)
CULVER CITY, CA-NMS Properties has begun construction on a 131-unit multifamily project here featuring restaurant and retail shops on the ground floor. The market-rate, mixed-use project, named NMS @ 9901 and costing an estimated $63 million to construct, will have 11% of its units reserved for low-income residents upon completion in spring of 2014, according to Jim Andersen, president of the firm.
The project is located across the street from the Kirk Douglas Theater on Washington Blvd. and within walking distance of the new light rail station, shopping, dining and entertainment. One-, two- and three-bedroom units and lofts will range from 606 square feet to 1,383 square feet, and a roof garden and community room will provide social spaces for the tenants. Designed by Killefer Flammang Architects, NMS @ 9901 will include 12,500 square feet of retail space distinguished by canopies in accent colors, and underground parking.
“We find the redevelopment program and streetscape emerging along Washington Blvd. in Culver City extremely attractive and believe our project will further enhance the streetscape renaissance occurring there,” said Andersen in a prepared statement.
Anderson added that he believes the project will have great appeal to the employees of companies such as Sony and the Brotman Memorial Hospital, which are adjacent to the site. “In the pre-construction period, we studied the project’s submarket area and concluded there was a great demand for modern apartment homes with high-end finishes.”
He also noted that renters will find the building’s design unlike others in the area. “The excitement of the building is reflected most predominantly in the balcony geometries,” said Wade Killefer, design principal of Killefere Flammang Architect, in a prepared statement. Features include balconies clad by alternating metal panels, a deeply recessed band on the 5th- and 6th-story mezzanines and a large, landscaped tenant-oriented courtyard that will separate the building into two distinct masses connected by walkways overlooking the courtyard.
Killefer said the 39,000-square-foot site was formerly occupied by a movie theater with three levels of below-grade parking, which will serve the new building after it is seismically upgraded.
As GlobeSt.com previously reported, in May NMS began construction on a $50-million 125-unit, five-story multifamily project in Los Angeles, NMS @ La Cienega, at the corner of La Cienega Blvd. and Westmount Dr. Killefer Flammang is also the designer for this project.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
