New York investor Six Peak Capital is making another L.A. play with a plan to build a five-story apartment building in Silver Lake.
Six Peak filed plans for a five-story, 121-unit project in the trendy L.A. neighborhood of Silver Lake. The project is located at 2511-2517 West Sunset Boulevard, and will replace a liquor store.
It’s a part of L.A. that in recent years has transformed into one of the city’s most sought after neighborhoods, along with the neighboring district of Echo Park, which shed a reputation for gangs and crime to become a center of gentrification over the last two decades.
Significant new projects have been sprouting in both districts: A couple years ago Cypress Equity filed plans for a 176-unit complex, also on West Sunset, and last year Manhattan West filed for a five-story project on North Alvarado Street, among others.
Six Peak, which has around 50 multifamily projects around the country, has made L.A. a major focus. The firm has around 20 properties in the region, including co-living apartments in East Hollywood and Mar Vista. Last month the city’s planning commission upheld approvals for another Six Peak project, a 110-unit build on the edge of booming Koreatown, that had been contested by neighborhood groups.
In 2019, the firm made a major push on co-living, announcing it was seeking $1 billion in fundraising to develop projects across the country.
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