A new presentation to the Santa Monica Architectural Review Board offers a look an updated renderings of a proposed high-rise building near the E Line's western terminus.

Madison Realty Capital, the applicant attached for the former Builder's Remedy project at 601 Colorado Avenue, planning the construction of a 24-story building containing 264 studio, one-, and two-bedroom apartments with approximately 4,000 square feet of ground-floor commercial space and basement parking for 101 vehicles.

Aerial view looking northeastOttinger Architects

The project would include 40 apartments reserved for low-, very low-, and moderate-income households in exchange for density bonus incentives, according to plans.

Ottinger Architects is designing 601 Colorado, which would stand approximately 254 feet in height. The glass-clad building would include a rooftop pool and a podium-level amenity deck.

"The building maximizes the ground floor area and sets the upper stories in on all sides to create a glass point tower over a travertine-wrapped podium," states a staff report. "This provides outward views for all the units and more natural light than in a typical courtyard configuration."

Aerial view looking northwestOttinger Architects

Madison Realty Capital took stewardship of the 601 Colorado project and numerous other Santa Monica development sites from NMS Properties, which was forced to turn over keys to roughly 50 percent of its portfolio to lenders last year. The 601 Colorado site was one of 10 Builder's Remedy projects which Santa Monica agreed to process as part of a settlement agreement with NMS in 2023. As a result, the proposed project would far exceed the 130-foot building height allowed by the Santa Monica's Downtown community plan.

Among the projects which Madison Realty Capital inherited from NMS is a site at 3030 Nebraska Avenue, where up to four high-rise buildings featuring roughly 1,600 homes. Those towers, rising up to 365 feet in height, would be the tallest in Santa Monica.

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