Los Angeles’s Newest Developments Offer Smart Homes, Valet Parking and More
More buildings in the California city are becoming jam-packed with amenities—almost like cities unto themselves
While there are new projects in the pipeline, an ongoing lack of inventory continues to plague the real estate market in Los Angeles.
“The lack of inventory has really put a dent on sales activity this summer,” said Selma Hepp, chief economist and vice president for business intelligence at Pacific Union International. Sales are “consistently about 20% below last year.”
The downtown Los Angeles market has been hit particularly hard, Ms. Hepp said, with 30% less inventory than last year across most price ranges, she said.
And across the Los Angeles market, this lack of inventory has “continued to push home prices up this year, and they are 10% year to date above last year’s levels,” she said.
“Our market has been trending upward year after year since 2011,” said Hana Cha, managing director of new development at The Agency. “It’s a very healthy market, especially for developers.”
The good news is that there is plenty of new inventory on the way, especially downtown, she said.
The Residences at Rolling Hills Country Club (photo: Alan Kennedy)
The Residences at Rolling Hills Country Club (photo: Alan Kennedy)
“For the first time in the city of Los Angeles, there is an appreciation of the kind of urban lifestyle where everything is in one place, either in the building or close by,” Ms. Cha said.
“In L.A. in general, there is $32 billion worth of new construction in the pipeline,” she added.
She has some concerns about it, actually. “There is a lot of uber-luxury product coming to market at the same time, but who will actually buy these homes?”
“We need more mid-market product, for people who live and work downtown, to keep the city vibrant and not a ghost town of investors or foreigners,” Ms. Cha said.
As far as other areas of the city, “the Westside of L.A. continues to dominate the luxury market, with price increases of 5% to 21% from 2017 to 2018 in certain areas,” said Joanne Lindsay, new development specialist at Pacific Union International.
The hottest areas in the Westside are Santa Monica, Playa Del Rey, Playa Vista, Venice and Marina Del Rey “due to the tech industry boom,” she said.
Below are some of the new developments that have just opened in—or are soon coming to— the Los Angeles market.
Enclave Hollywood Hills
Enclave Hollywood Hills, 3450 Cahuenga Blvd. West, Hollywood Hills
Secluded beyond a gated entry, Enclave is a collection of three-story modern live-work townhomes designed to serve as an urban retreat where the Hollywood Hills meets Universal City. It will feature lush, tree-lined streets and outdoor amenity spaces in which to both unwind and put one’s creativity to work.
The development comprises 12 buildings with four to seven live/work residences per building, each with top-tier finishes, 12-foot ceilings at the ground level, flexible second-story spaces with 16-foot exposed-beam ceilings, a third-story loft and a large fourth-floor master retreat with a spa-like bath and private balcony.
To ensure stillness for both work and family life, the homes are separated by substantial concrete walls.
Enclave borders Universal City, moments from Universal Studios, Runyon Park and Hollywood Park, and is within easy reach of West Hollywood, Toluca Lake and the Burbank airport.
This property was originally developed by AMI Real Estate as for-sale live/work lofts in 2008, then after the Great Recession, they converted to for lease live/work lofts. BLDG Partners acquired the development late last year and made improvements throughout, including creating an amenity set.
BLDG Partners repositioned the development from being Universal City Live/Work Lofts to Enclave Hollywood Hills, and the company is now bringing them back to market in October.
Number of homes: 67
Price range: $999,995 to $1.4 million
Developer/architect/designer: BLDG Partners/Nadel
Townhome sizes: The two- and three-bedroom four-level floor plans range from 1,905 to 2,496 square feet and feature balconies and courtyards
Amenities: The gated community features valet parking, two exterior communal living spaces—one a lounge area with a fireplace and the other a dining area with a barbecue— and on the periphery there’s a tree-covered park and dog path.
Photos courtesy of Pacific Union International
The Residences at Rolling Hills Country Club
The Residences at Rolling Hills Country Club, 15 Chandler Ranch Road, Palos Verdes Peninsula
The Residences, a 228-acre luxury enclave of new single-family estate homes, is located within the gates of the newly opened Rolling Hills Country Club on the Palos Verdes Peninsula (known as “The Hill”). It's the last bit of largely undeveloped land on The Hill, which is home to many of Los Angeles’ top athletes and industry leaders that are drawn to its exclusivity, top-rated schools, equestrian-friendly trails and its wide-open ocean-to-mountain-to-city views.
The 114 California Ranch Revival-style homes went on the market in June, and the first 11 buyers were locals who live in the immediate area of this new development. New, single-family homes in areas like Palos Verdes Peninsula can take years to build, but homes at The Residences can be built in eight months, and buyers have endless customization options.
The 114 homes and home sites include 67 custom homes and 16 estate home sites offered by the Chadmar Group and 31 homes offered by Toll Brothers.
The homes are offered in five distinct elevations: Modern Farmhouse, California Ranch, Interpretive Ranch, Adobe Ranch and European Ranch. Each open-concept design inspires outdoor living with welcoming front porches, courtyards and backyards.
The rural tapestry includes split-rail fences, large-canopied trees and hiking and biking trails.
The first 20 homes are scheduled for fall completion with the first nine homebuyers moving in before end of the year.
Number of homes: 114
Price range: $2.6 million to $5.3 million
Developer/architect/designer: The Chadmar Group/Robert Hidey/Objekt Design
Home sizes: 3,500 to 5,600 square feet, with four, five or six bedrooms. Home sites for sale range from 8,086 square feet to a 35,052-square foot lot that is equestrian zoned
Amenities: Owners of The Residences, who become members of the Rolling Hills Country Club, will have access to a clubhouse featuring spa and fitness, David Mclay Kidd-designed championship links style golf course, an aquatic center featuring a junior Olympic-sized pool, a tennis pavilion, kids club, fine- and casual-dining venues and more.
Photo credit: Alan Kennedy
Metropolis Tower II
Metropolis Tower II, 877 Francisco St., Downtown Los Angeles
Metropolis, a collection of residential towers, sky parks and pools, dining, and an upscale hotel in the heart of downtown Los Angeles, continues to move forward. Sales of Tower II of Metropolis were launched this summer, with move-ins scheduled through the fall as it sells.
The largest mixed-use development in the Western United States is also unveiling its 60,000-square-foot Sky Park, one of Tower II’s many amenity offerings, which was designed by OJB Landscape Architecture.
The development encompasses 6.3 acres in Downtown L.A.’s Central Business District, featuring three residential towers, the boutique Hotel Indigo, and 70,000 square feet of retail space.
Design features of the open-concept Tower II apartments include expansive window walls, 9.5- to 11-foot ceilings, Caesarstone countertops and backsplashes, custom wood cabinetry with stainless steel trim, Miele and Bosch appliances, Waterworks, Hansgrohe and Toto bath features, Nest learning thermostats and six-inch-wide oak flooring.
Number of units: 514
Price range: Studios start at $600,000; one-bedroom units start in the high $700,000s; and two-bedroom apartments start in the $1.2-million range.
Developer/architect: Greenland USA/Harley Ellis Devereaux
Apartment sizes: Studios range in size from 482 to 627 square feet; one-bedroom residences from 693 to 1,024 square feet; and two-bedrooms (all corner units) from 1,182 to 1,431 square feet
Amenities: 24/7 lobby attendant and dedicated concierge; clubhouse with indoor lounge and chef’s kitchen, resort-style, junior Olympic-sized pool with Jacuzzi spa, cabanas and lounge; Sky Park with fire pit and seating, outdoor barbecue area, state-of-the-art fitness and yoga studio, fully equipped locker rooms, steam rooms and showers, business center and work spaces, billiard and game rooms, screening room, wellness garden, children’s play area and a dog park with bathing station
Photo credit: Courtesy of Metropolis
Brooks Venice, 748 Brooks Ave., Venice
These four new single-family homes are in the booming Silicon Beach and all are designed for LEED Gold Certification. The Brooks Venice development blends modern architecture, smart-home technology and eco-friendly design.
The open-floor plan ground levels have living, dining and kitchen areas. The second levels of each home offer flexible layouts for bedrooms, a second family room or home office. The master suite and balcony are on the third floor. Each home has front and center courtyards.
Finishes and features include sustainable Cali Bamboo flooring, European-style soft-close cabinetry, Kohler fixtures, Baldwin door hardware and Ceasarstone and Richlite countertops in bathrooms and kitchens.
The generous backyard is ideal for year-round entertaining and true indoor/outdoor living with custom bi-fold doors. The third floor balconies have generous views of Venice and Marina del Rey.
For tech aficionados, smart-home features abound, including Nest thermostats, Ring doorbells with voice and video, Lutron smartphone-controlled lighting and garage door openers, and the homes are pre-wired for CAT6 cabling throughout.
Number of units: 4
Price range: $2.243 million to $2.594 million; all four are for sale together for $9.99 million
Developer/architect: Lighthouse Brooks LLC/Living Homes
Home sizes: Each residence has four bedrooms and three-and-a-half bathrooms spread over 2,200 square feet of living space.
Photo credit: Brandon Arant
1030 Kings, 1030 North Kings Road, West Hollywood
Located on historic Kings Road in West Hollywood, 1030 Kings is a collection of 25 condominiums with angular, modern architecture on the exterior and light-filled, design on the inside.
The four-story building features two-bedroom, two-bath residences with open-floor plans, expansive window walls, 10-foot ceilings, private terraces and design details that include floor-to-ceiling marble walls in the master baths and European-inspired, Bauformat kitchens.
The development is located amidst the eclectic, world-class shopping, dining, entertainment and nightlife of West Hollywood and the Sunset Strip, and within minutes of Beverly Hills, Santa Monica and Downtown Los Angeles.
Currently under construction, 1030 Kings is set to be completed later this month, and sales began earlier in the month.
Number of units: 25
Price range: $1.11 million to $1.85 million
Developer/architect/designer: National Construction/Lorcan O’Herlihy Architects/ /MLH Design Group
Apartment sizes: 926 to 1,235 square feet
Amenities: Entry courtyard and open-air atrium; two-story amenity deck with 180-degree views of the Hollywood Hills and a mini fridge, fire pit, lounge and custom bench seating; fitness studio that connects to an outdoor yoga deck; subterranean resident parking with an electric car charger for each unit
Photo credit: BOGZA