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$110M DTLA Multifamily High-Rise Breaks Ground

LOS ANGELES—Trumark Urban starts construction of Ten50, a luxury high-rise apartment building in Downtown Los Angeles, which will be the first of its kind to come online in nearly a decade.

By Kelsi Maree Borland | Updated on March 25, 2015

LOS ANGELES—Trumark Urban has begun construction of TEN50, a $110-million luxury high-rise condominium development in Downtown Los Angeles. Once complete, the project will be the first high-rise residential building to come online in nearly a decade. The groundbreaking ceremony was held last week with several high profile real estate professionals in attendance.

“DTLA currently has a lot of apartments, but there are very few condominiums. We believe the time is right for DTLA to add more for-sale housing, and we are confident this area will continue to grow into a world-class urban center,” Arden Hearing, managing director at Trumark Urban. “Trumark Urban prides itself on seeing coming trends. In fact, we were among the first in San Francisco to come out again with condos for sale, and we see very similar market dynamics present in DTLA. During the last development cycle, DTLA was just getting its footing. But since the downturn, DTLA has evolved at a pretty incredible pace, so we feel that this is just the beginning of a remarkable wave of development in the area. We’re thrilled to be leading the charge on the condo development side.”

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