New City West mixed-use residence is one of many to come

Holland Partner Group recently opened the Mint, with 42 units

TRD LOS ANGELES /
Apr.April 13, 2016 12:18 PM

City West, the neighborhood just across the 110 Freeway from the Financial District, is having a moment.

Less than a mile away from the heart of DTLA, the district now hosts a handful of residential developments, one of which is a 42-unit loft complex that opened March 19 on the southeast corner of Sixth Street and Lucas Avenue.

Dubbed the Mint, the eight-story building was redeveloped by Vancouver-based firm Holland Partner Group. The company acquired the property for approximately $46.2 million, according to PropertyShark.

Now open for leasing, the building offers studio, one-bedroom and two-bedroom apartments. Prices start at $2,085 per month for a studio, according to a Holland representative.

According to its website, the Mint offers amenities including a common parlor room, courtyard and rooftop area with grills and space for dining. The building itself was built in the 1920s and belonged to the Good Samaritan Hospital across the street, prior to Holland’s acquisition in 2007.

The Mint is part one of a $200 million project by the firm. Part two is an apartment building that will rise along Sixth between Lucas and Bixel Street. Projected to complete by January 2017, that development will contain 606 units on seven levels as well as retail businesses on the ground floor, a representative of the project told The Real Deal. 

Holland operates another apartment complex just down the block — the 210-unit 1111 Wilshire, which opened in 2013.

Jade Enterprises is also active in City West, and has planned a mixed-use development on the same block. The two proposed buildings would house 369 residential units in total and at least 22,000 square feet of ground-floor commercial space.

Meanwhile, Career Lofts-L.A. has submitted plans to the city for a 36-story tower in the neighborhood with 422 units, dubbed the Bixel. That development also features a seven-floor hotel.

Nearby at at 1247 West 7th Street, a Lifan Group-affiliated LLC has plans to transform the vacant office building into a high-rise residential complex. The Lifan Group is a Chinese manufacturer of cars and motorcycles.

Finally, another block over at 1135 to 1147 West 7th Street, Pangea Development, an LLC in connection to Pasadena lawyer Cindy Tran, filed plans with the city to turn a motel into a residential-retail complex with 241 units and about 7,000 square feet of commercial use. [Brigham Yen]Cathaleen Chen

 

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