Tishman Speyer is revamping plans for two Downtown Santa Monica development sites.

New websites launched this month indicate revised proposals for properties at 1323 and 1338 5th Street, both of which were acquired as part of a larger portfolio of properties from WS Communities in 2021. Tishman Speyer is concurrently pursuing updated projects for two additional sites at 1318 Lincoln Boulevard and 1325 6th Street.

In lieu of WS Communities' approved project at 1338 5th Street, which called for the construction 120 apartments - the bulk of which would have been single-occupancy units - above retail and parking, Tishman Speyer is planning an eight-story, 110-unit market rate apartment complex with a three-level, 95-car subterranean parking garage. Plans show a mix of studio, one-, and two-bedroom units.

Rendering of 1323 5th StreetOttinger Architects

The second site at 1323 5th Street is slated for the construction of a five-story, 100 percent affordable housing development containing 35 residential units. The building would satisfy the off-site affordable housing required for 1338 5th Street, as well as the two other upcoming Tishman Speyer projects on 6th Street and Lincoln Boulevard. 

Both buildings are being designed by Ottinger Architects.

The four upcoming projects, when complete, would round out Tishman Speyer's Downtown Santa Monica portfolio. The company has already completed, or is nearing completion, on four additional apartment buildings along Lincoln Boulevard and Colorado Avenue.

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