A full city block in Santa Monica is slated for transformation into an eight-story residential building.
Trammell Crow Company has proposed replacing an existing office complex at 2716 Ocean Park Boulevard in Santa Monica with 456 residential units above ground-floor retail, Los Angeles YIMBY reported.
The eight-story building would include 456 total units in studio, one-, two- and three-bedroom layouts. Of the 456 units, 46 would be designated for rent at below-market rates, allowing developer Trammell Crow to take advantage of density bonus incentives allowing a taller structure with more units than zoning rules would typically allow. The ground floor would have 6,200 square feet of commercial space.
Parking for 668 vehicles would be included on site. Amenities planned for the residential complex north of Santa Monica Airport include a fitness center, lounge spaces, outdoor courtyards and roof decks.
The project is being designed by AC Martin. Renderings for the project indicate some residences would have recessed balconies and roof decks integrated into residences on the upper levels.
Under the City of Santa Monica’s housing element, officials must plan for 8,874 new housing units by 2029; of those, 69 percent must be at various affordable income levels. To meet that goal, the city has been approving developers’ affordable housing plans or looking to sell land to willing builders who vow to construct affordable units. Last year, the city sought developers to build affordable housing on three city-owned properties as the city works to comply with California’s Surplus Land Act.
In September, the city advanced an eight-story residential project at 1907-1933 Wilshire Boulevard set to contain 260 units, including 26 set aside for affordable housing. The developer for that project is U.S. 1931 Wilshire Owner LLC, linked by address in state business records to Cypress Equity Investments. Cypress is also looking to replace a former Honda dealership at 1801 and 1819 Santa Monica Boulevard with a 288-unit apartment complex. — Chris Malone Méndez
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