SANTA MONICA--Although it took two developers and a bank to complete the two adjacent rental multifamily buildings at 1420 and 1430 Fifth Street, the wait was worthwhile to the city and the current developer.
“The project is already 30% leased,” said Jim Andersen, president of NMS Properties, the current developer, who worked with Killefer Flammang Architects (KFA)--the original architect-- to complete the two inviting urban contemporary six-story buildings, in the $22 million project.
“Residents will be able to live, work and play without ever needing to get into their cars,” said Andersen. “This is part of our vision for walkable destination apartments for lease in Santa Monica . Leading this kind of lifestyle will save residents thousands of dollars in car-related expenses and reduce their carbon footprint.”
Comprising 100 units, with one and two-bedroom floor plans ranging from 525-1395 square feet, the apartments include European-styled cabinetry and stainless steel kitchen appliances and personal security systems.
Rental prices start at $2,695 for one-bedroom units, and $3,795 for two-bedroom apartments, the developer said.
NMS owns and manages 2,000 multifamily luxury and affordable housing units throughout the metropolitan Los Angeles area.
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