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The Real Deal Los Angeles

ESI Ventures plans apartment complex in Culver City

The project would include 52 units and ground floor retail
By Eddie Small | August 02, 2018 11:00AM

9900 Venice Blvd

Add another residential project to the growing number that are sprouting up in and around Culver City.

ESI Ventures, a real estate investment company, is planning a 52-unit residential development at 9900 Venice Boulevard, according to Department of City Planning records. The project will include five affordable housing units, and there be commercial space on the ground floor.

An LLC linked to ESI Ventures purchased the property in June for $5.6 million.

The nearby area has been an active one for development. An apartment complex at 3325 S. Canfield Avenue near Culver City recently traded to a Beverly Hills investor for $15.7 million, almost twice its selling price from four years ago.

The rise in apartment projects around there has accompanied the steady influx of tech and media companies, including Amazon, Apple and co-working firm WeWork. NFL Media also landed a lease extension for its Culver City offices through 2021 earlier this year.