MARINA DEL REY, CA—California Landmark Group has broken ground on a $30-million live/work loft project called R3 Lofts. Located at 4091 Redwood Avenue in the marina arts district, the mixed-use project will have 67 apartment units and 7,525 square feet of creative office space all in one building. The property is expected to open in the spring of 2016.

“The marina arts district is a unique location. Bounded by Santa Monica, Playa Vista, the Westside and the ocean, the district houses industrial, retail and residential uses, all within walking distance,” Ken Kahan, president of California Landmark Group, tells GlobeSt.com. “We love this intermix and believe that traditional concepts of separate zoning should not apply given changes in technology and lifestyles.” 

PK Architecture, the project's designer, has created a contemporary design with a glass entryway, a rooftop pool and a wide array of amenities, including a media room, gym and fire pit area. The building is specially designed to target tenants seeking a unique live-work lifestyle all in one property. “When you can work on a new business after dinner, or answer emails at 2 a.m., or see a movie in the middle of the day, it is time to reconsider how we build and develop,” says Kahan. “The marina arts district is a blank slate that allows our company to create unique live-work environments, all in the same project.”

The property has a mix of one- and two-bedroom units that are expected to generate monthly rents of $2,300 to $3,900. CLG is funding the project with equity from a private fund and a construction loan from City National Bank. 

The California Landmark Group is known for developing innovative property types, like this. In the marina arts district alone, CLG has developed more than 400 units and 500,000 square feet of live/work space. Its most recent Los Angeles project is the hw, a 79-unit property in Hollywood that opened in March with 50% occupancy.