Related California eyes latest project in Downtown Santa Monica

The developer wants to build a 260-unit residential complex with nearly 100K sf of commercial space

Los Angeles /
Apr.April 16, 2020 11:11 AM
Related California CEO William Witte and the project site (Credit: Google Maps)
Related California CEO William Witte and the project site (Credit: Google Maps)

Related California has filed plans to build a 260-unit apartment building at the site of a Vons supermarket in Downtown Santa Monica.

The complex would rise five stories at 1500-1534 Lincoln Boulevard, according to Urbanize. The developer posted a notice outside the supermarket detailing its intentions this week, according to the report.

The supermarket would be replaced by a 53,000-square-foot commercial space on the ground floor of the apartment complex. Related wants to add another 33,000 square feet of commercial space to the site, along with a 390-space underground parking garage.

The property is about 2.5 acres, near several development sites owned by developer WS Communities, all slated for residential projects.

WS Communities closed $157 million in financing from Madison Realty Capital in March for two of the sites, and last fall snagged a $44 million loan with Lightstone to refinance two others.

With California under a stay-at-home order, Santa Monica has postponed any municipal public meetings, so it’s likely that Related’s project won’t move forward any time soon.

The firm has plenty of other projects, namely its $1 billion mixed-use megadevelopment in Downtown Los Angeles, dubbed The Grand. Late last year, the firm and its partner CORE USA scrapped plans for a movie theater in the complex, citing a “lack of interest by theater operators.” [Urbanize] — Dennis Lynch


Related Articles

arrow_forward_ios
Related California CEO William Witte and a rendering of the project (Getty, City of Santa Monica)
Renderings reveal Related’s 296-unit Santa Monica project
Renderings reveal Related’s 296-unit Santa Monica project
Shane Smith and his Santa Monica Estate (Photos via Getty; The Agency)
Vice Media co-founder Shane Smith wants $50M for SaMo mansion
Vice Media co-founder Shane Smith wants $50M for SaMo mansion
Neil Shekhter (Shekhter by Kevin Scanlon; iStock)
Santa Monica mega-portfolio officially hits market
Santa Monica mega-portfolio officially hits market
NMS Properties' Neil Shekhter and renderings of 1325 6th Street, 1437 6th Street, 1430 Lincoln Blvd. and 1318 Lincoln Blvd. in Santa Monica (Kevin Scanlon, WSC)
City for sale: Shekhter looks to unload mega-portfolio in Santa Monica
City for sale: Shekhter looks to unload mega-portfolio in Santa Monica
Neil Shekhter of NMS Properties, who is involved in the lawsuit. (Kevin Scanlon)
Landlords sue Santa Monica over “arbitrary” ban on short-term rentals
Landlords sue Santa Monica over “arbitrary” ban on short-term rentals
HomeLister CEO and Co-Founder Lindsay McLean (LinkedIn)
HomeLister property-selling platform raises $4.5M in seed funding
HomeLister property-selling platform raises $4.5M in seed funding
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske
Northwestern Mutual picks up Santa Monica office campus for $166M
Northwestern Mutual picks up Santa Monica office campus for $166M
Macerich CEO Thomas O’Hern and Santa Monica Place mall
Here’s what tenants are paying at Macerich’s Santa Monica Place
Here’s what tenants are paying at Macerich’s Santa Monica Place
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...