search

The Real Deal Logo

Trending

Tides’ original investors may be wiped out by preferred equity dealTides’ original investors may be wiped out by preferred equity dealLA court strikes down SB9 law allowing single-family lot splitsLA court strikes down SB9 law allowing single-family lot splitsMcCarthy leaves distressed office for premier Post Oak developmentMcCarthy leaves distressed office for premier Post Oak developmentDevelopers have a new tax break. Now they must figure it outDevelopers have a new tax break. Now they must figure it out
Development
Los Angeles

A demand for supply: California Landmark Group to add units to Culver resi complex

The developer wants to add 42 units to the apartment building it completed last year

CLG President Ken Kahan and 3838
CLG President Ken Kahan and 3838

California Landmark Group wrapped up construction on its 82-unit apartment building next to the Culver City border last year, but growing demand has led it to increase supply.

The West Los Angeles firm wants to tack on another 42 units to the complex at 3838 S. Dunn Drive in Palms near downtown Culver City, according to a filing with the Department of City Planning.

Developers have raced to add rental and condominium units to Culver City as tech and media companies pour into the city, scooping up large chunks of office space left and right.

CLG’s new filing seeks to add the units to the building on neighboring lots. The existing development is 70,000 square feet. The firm completed 3838 last year, about two and half years after breaking ground. In July, it purchased the two neighboring lots totaling just under 10,000 square feet for the addition.

Sign Up for the undefined Newsletter

CLG is seeking density bonuses under the city’s Transit Oriented Communities program. The measure provides incentives like higher density and more units for developments near transit stations, if developers set aside affordable units. CLG would make 11 of the 42 new units affordable for “extremely low-income” renters.

The existing development has one- and two-bedroom units, and there is a pool and deck on the roof, as well as a gym and a recreation room

Neartby, Apple is in talks to lease another 150,000 square feet of office space at LBA Realty’s One Culver project, which would bring its footprint in L.A. to 278,000 square feet. Apple’s new lease would bring 1,000 employees to the area.

HBO is also close to leasing the entirety of the 200,000-square-foot Ivy Station complex. And Hackman Capital Partners announced in December that Amazon is leasing half a million square feet at Hackman’s Culver Studios project.

Tags
Culver CityDevelopment