Cypress Equity starts work on mixed-use project in Santa Monica

The 66-unit building adds to the growing number on Lincoln Boulevard

Cypress Equity founder and CEO Michael Sorochinsk
Cypress Equity founder and CEO Michael Sorochinsk

Cypress Equity Investments has begun work on its 66-unit apartment building in downtown Santa Monica, the latest residential development to rise in the area in recent months.

The Los Angeles-based developer’s four-story mixed-development is at 1641 Lincoln Boulevard, Urbanize reported. There will be 7,000 square feet of street-level retail space, according to Cypress Equity’s website. There will be a three level underground garage with 93 parking spaces.

KFA Architecture of Santa Monica topped the building with a landscaped roof deck. Some of the materials for the exterior include rustic concrete finishes, reclaimed wood, distressed metal and textured glass. It will be completed next year.

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Cypress Equity has numerous multifamily and mixed-use developments scattered around the country, including several in L.A. and Chicago, one in New York and one in Fort Lauderdale, Florida.

The Lincoln Boulevard area has seen an uptick in construction activity.

Developer Wiseman Residential proposed a 44-unit mixed-use project at 1808-1816 S. Lincoln Boulevard in Venice. The company plans to include about a half-dozen “very low income” apartments and 3,000 square feet of ground-floor retail.

Also in Venice, a 77-unit residential development at 2452-2454 Lincoln Boulevard was proposed. It’s around the corner from a 56-unit development planned last year. [Urbanize] — Laurie L. Dove