LOS ANGELES—Downtown Los Angeles' development renaissance is hitting the condo market. Apartments have dominated the development pipeline, but condos are becoming more popular in the market as renters transition to homeownership. Lifescapes International recently completed a landscape design for the 25-story Ten50 project, a condo development from Trumark Urban and the first condo complex to deliver in the market in a decade. We sat down with Julie Brinkerhoff-Jacobs, president of Lifescapes International, to talk about the project and the future of condo development in Downtown Los Angeles.
GlobeSt.com: DTLA continues to experience tremendous growth and development momentum. What factors are driving the condo development boom in this emerging market?
Julie Brinkerhoff-Jacobs: One of the primary factors that is driving this development boom is the shift toward urbanization and the demand for highly walkable communities where residents can live, work, and play all in one central location. Walkability is a key component of the economic development of urban cities, and has been proven to substantially increase property values.
Today's millennials no longer want to spend their lives in their cars, commuting like previous generations, but rather want to live in an interconnected city where they can easily walk to work and have access to nearby retail amenities. Downtown LA has given birth to a variety of mixed-use and retail destinations such as The Bloc, which offers that fully integrated live/work/play experience.
Infrastructure changes are also driving condo development, as residents gravitate toward transit-accessible housing. Measure R funding is bringing transportation infrastructure into L.A. For example, a $1.7 billion Regional Connector Transit Project is underway, with a 1.9 mile light-rail system extending from the Little Tokyo/Arts District to downtown Los Angeles. In addition, there's pent-up demand for housing to sustain growth in this submarket. While downtown Los Angeles has seen a resurgence in rental units, condo inventory has fallen short, giving developers the opportunity to capitalize on the demand for new residences. TEN50, for example, provides urban dwellers with the opportunity to own exquisite residences in one of the most dynamic markets on the west coast. Finally, downtown Los Angeles has evolved into a Southern California epicenter, with businesses across all industries moving to this market. As a result, it has attracted an influx of residents, from Millennials to Baby Boomers, who want to live at the center of the action and enjoy an urban lifestyle.
GlobeSt.com: You recently completed the landscape environment for TEN50, the first condo high-rise development to be completed in DTLA in a decade. What was your vision behind the design of this project?
Brinkerhoff-Jacobs: At TEN50, we designed the overall landscape environment for “The Fifty,” the sixth-floor outdoor terrace, pool deck, and recreational hub of the property. Our strategy was to create an “urban oasis” by integrating extensive, yet nuanced landscaping into an urban setting. To accomplish this, we designed indoor and outdoor lifestyle spaces that are ideal for entertaining by creating “outdoor living rooms” surrounded by sculptural, verdant landscaping. The focal point of this deck is a majestic, “naked coral tree” in a raised planter enveloped by multi-level garden, destination-oriented spaces. We also formed a natural tree “screen wall” with more than 30 Japanese blueberry trees, and created a vibrant tapestry of over 1,000 flowering shrubs and succulents. These natural elements, coupled with recreational amenities such as water features, well-appointed BBQ areas, and a built-in entertainment bar, create a true resort-style setting that is unique for an urban community. We created gathering spaces centered around fire pits and natural gas fire tables, encouraging city-light viewing parties, while an outdoor yoga deck contributes to relaxation. We also defined spaces through mosaic pool tiles, natural stonewall tiles, and decorative pedestrian ties to bring richness and texture to the various surfaces.
GlobeSt.com: How have the design & development of condo projects evolved post-recession in DTLA?
Brinkerhoff-Jacobs: Today's residents are demanding fully integrated, amenity-rich environments that cultivate a sense of community and encourage a particular lifestyle. As such, we wanted to create an engaging, entertainment-driven environment that would exude both luxury and comfort. Since the recession, condominium development projects have grown both in scale and grandeur. One design trend we've noticed is that urban developers are increasingly bringing landscaping to the forefront of their projects. In the past, landscaping was just a small portion of a development, especially in urban infill product. Today, developers recognize the transformative role that a landscape environment plays in creating resort-like destinations, whether it's for a multifamily community or a condo development. In addition, today's condo developments are taking amenities to the next level to deepen the resident experience. For example, TEN50 offers a private screening room for entertaining guests, as well as the country's first air-ready drone landing pad for drone delivery service. These luxury amenities add value to the property and have been instrumental in driving sales at the community. Since its grand opening, over two-thirds of the residences have already sold, indicating strong demand for upscale urban living.
GlobeSt.com: Looking ahead, what is your outlook on the DTLA condo market for 2017 and beyond?
Brinkerhoff-Jacobs: The downtown Los Angeles condo market is poised for explosive growth. TEN50 will usher in a new era of resort-style urban living, and has already raised the bar for future developments in this flourishing district. As renters continue to transition toward homeownership, demand for condo units will continue to outpace supply in this submarket. While downtown Los Angeles is seeing more construction, it is not yet at the point where housing is being overbuilt. In fact, a recent report by the California Department of Finance found that the city of Los Angeles grew by more than 42,000 people from 2016 to 2017 and has surpassed four million people – a historic milestone that solidifies its place as the most populated city in California. Based on these demographic shifts and the overall resurgence of downtown Los Angeles, we believe the condo market will continue to thrive well into 2017 and beyond.
LOS ANGELES—Downtown Los Angeles' development renaissance is hitting the condo market. Apartments have dominated the development pipeline, but condos are becoming more popular in the market as renters transition to homeownership. Lifescapes International recently completed a landscape design for the 25-story Ten50 project, a condo development from Trumark Urban and the first condo complex to deliver in the market in a decade. We sat down with Julie Brinkerhoff-Jacobs, president of Lifescapes International, to talk about the project and the future of condo development in Downtown Los Angeles.
GlobeSt.com: DTLA continues to experience tremendous growth and development momentum. What factors are driving the condo development boom in this emerging market?
Julie Brinkerhoff-Jacobs: One of the primary factors that is driving this development boom is the shift toward urbanization and the demand for highly walkable communities where residents can live, work, and play all in one central location. Walkability is a key component of the economic development of urban cities, and has been proven to substantially increase property values.
Today's millennials no longer want to spend their lives in their cars, commuting like previous generations, but rather want to live in an interconnected city where they can easily walk to work and have access to nearby retail amenities. Downtown LA has given birth to a variety of mixed-use and retail destinations such as The Bloc, which offers that fully integrated live/work/play experience.
Infrastructure changes are also driving condo development, as residents gravitate toward transit-accessible housing. Measure R funding is bringing transportation infrastructure into L.A. For example, a $1.7 billion Regional Connector Transit Project is underway, with a 1.9 mile light-rail system extending from the Little Tokyo/Arts District to downtown Los Angeles. In addition, there's pent-up demand for housing to sustain growth in this submarket. While downtown Los Angeles has seen a resurgence in rental units, condo inventory has fallen short, giving developers the opportunity to capitalize on the demand for new residences. TEN50, for example, provides urban dwellers with the opportunity to own exquisite residences in one of the most dynamic markets on the west coast. Finally, downtown Los Angeles has evolved into a Southern California epicenter, with businesses across all industries moving to this market. As a result, it has attracted an influx of residents, from Millennials to Baby Boomers, who want to live at the center of the action and enjoy an urban lifestyle.
GlobeSt.com: You recently completed the landscape environment for TEN50, the first condo high-rise development to be completed in DTLA in a decade. What was your vision behind the design of this project?
Brinkerhoff-Jacobs: At TEN50, we designed the overall landscape environment for “The Fifty,” the sixth-floor outdoor terrace, pool deck, and recreational hub of the property. Our strategy was to create an “urban oasis” by integrating extensive, yet nuanced landscaping into an urban setting. To accomplish this, we designed indoor and outdoor lifestyle spaces that are ideal for entertaining by creating “outdoor living rooms” surrounded by sculptural, verdant landscaping. The focal point of this deck is a majestic, “naked coral tree” in a raised planter enveloped by multi-level garden, destination-oriented spaces. We also formed a natural tree “screen wall” with more than 30 Japanese blueberry trees, and created a vibrant tapestry of over 1,000 flowering shrubs and succulents. These natural elements, coupled with recreational amenities such as water features, well-appointed BBQ areas, and a built-in entertainment bar, create a true resort-style setting that is unique for an urban community. We created gathering spaces centered around fire pits and natural gas fire tables, encouraging city-light viewing parties, while an outdoor yoga deck contributes to relaxation. We also defined spaces through mosaic pool tiles, natural stonewall tiles, and decorative pedestrian ties to bring richness and texture to the various surfaces.
GlobeSt.com: How have the design & development of condo projects evolved post-recession in DTLA?
Brinkerhoff-Jacobs: Today's residents are demanding fully integrated, amenity-rich environments that cultivate a sense of community and encourage a particular lifestyle. As such, we wanted to create an engaging, entertainment-driven environment that would exude both luxury and comfort. Since the recession, condominium development projects have grown both in scale and grandeur. One design trend we've noticed is that urban developers are increasingly bringing landscaping to the forefront of their projects. In the past, landscaping was just a small portion of a development, especially in urban infill product. Today, developers recognize the transformative role that a landscape environment plays in creating resort-like destinations, whether it's for a multifamily community or a condo development. In addition, today's condo developments are taking amenities to the next level to deepen the resident experience. For example, TEN50 offers a private screening room for entertaining guests, as well as the country's first air-ready drone landing pad for drone delivery service. These luxury amenities add value to the property and have been instrumental in driving sales at the community. Since its grand opening, over two-thirds of the residences have already sold, indicating strong demand for upscale urban living.
GlobeSt.com: Looking ahead, what is your outlook on the DTLA condo market for 2017 and beyond?
Brinkerhoff-Jacobs: The downtown Los Angeles condo market is poised for explosive growth. TEN50 will usher in a new era of resort-style urban living, and has already raised the bar for future developments in this flourishing district. As renters continue to transition toward homeownership, demand for condo units will continue to outpace supply in this submarket. While downtown Los Angeles is seeing more construction, it is not yet at the point where housing is being overbuilt. In fact, a recent report by the California Department of Finance found that the city of Los Angeles grew by more than 42,000 people from 2016 to 2017 and has surpassed four million people – a historic milestone that solidifies its place as the most populated city in California. Based on these demographic shifts and the overall resurgence of downtown Los Angeles, we believe the condo market will continue to thrive well into 2017 and beyond.
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