Lendlease and Aware Super have announced $316-million in new construction financing for the Habitat development now rising next to La Cienega/Jefferson Station, and with it, a new batch of renderings for the project.

Located on the former site of a storage facility at 3401 S. La Cienega Boulevard, will consist of a six-story, 253,000-square-foot office building and a 12-story, 260-unit multifamily residential building with 2,900 square feet of ground-floor commercial space. Roughly one acre of open space would be integrated into the mixed-use complex.

The project was approved with density bonus incentives to permit a larger residential building than would normally be allowed by zoning rules. In exchange, plans call for 22 of the studio, one-, and two-bedroom dwellings to be set aside as deed-restricted very low-income affordable housing. Lendlease has also agreed to set aside an additional 7 apartments as workforce housing.

Terrace deck of office buildingThe Boundary

The new loan for the project comes from Barings and Counterpointe Sustainable Real Estate, and includes C-PACE financing.

“Our ability to secure financing in today’s capital-constrained environment not only validates our vision for this transformational project, but also speaks to our network of financing partners that highly value the Lendlease and Aware Super sponsorship,” said Lendlease managing director Meg Spriggs in a statement. “With Habitat, we are introducing an exciting urban model to the Los Angeles community that is rooted in sustainability and connectivity while simultaneously increasing value in our investment portfolio.”

Shop Architects is designing the project, which will be its first in Los Angeles, while Steinberg Hart is serving as architect of record. A+I is the project's interior designer, while Relm is its landscape architect.

Both of the new buildings will include cascading terrace decks, providing amenities for office tenants and residents. The office complex is being designed with 50,000-square-foot floor plates, 14-foot floor-to-floor heights, and folding glass walls to provide an indoor-outdoor environment. The residential tower is expected to obtain LEED Gold certification, while the commercial building is expected to be the first new-construction office building in Los Angeles to obtain LEED Platinum certification.

Completion of the project is expected in 2026.

View from office interiorThe Boundary

While construction of the project has proceeded at a brisk pace, the project will be the last in the Los Angeles area for Lendlease - at least in the foreseeable future. Earlier this year, the company announced that it would pull back from development in the United States after completing its final three projects in Boston, New York, and Los Angeles.

Habitat is the third large mixed-use project to break ground in close proximity to La Cienega/Jefferson Station, following the Cumulus District from Carmel Partners, a 12-acre complex consisting of more than 1,200 apartments and a Whole Foods Market, and the 17-story Wrapper office tower from Samitaur and Eric Owen Moss Architects.

More projects are set to follow. The area's future construction pipeline includes a 254-unit apartment complex planned on the opposite side of La Cienega Boulevard and a series of office buildings proposed by Kilroy Realty Corp. and Lincoln Property Company.

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