A presentation to the Santa Monica Architectural Review Board reveals fresh renderings for a proposed high-rise development near the E Line. 

The project, which is being developed by Hankey Capital, would rise from a property at 1518-1524 7th Street, replacing an existing 10-unit rental development. The proposed new construction would consist of a 23-story, approximately 256-foot-tall tower featuring 119 one-, two-, and three-bedroom condominiums and five deed-restricted affordable units. In addition the building would include parking for 216 vehicles in an above- and below-grade garage.

Street-level view looking southwestOttinger Architects

Ottinger Architects is designing the contemporary glass-and-steel high-rise, according to plans included with the presentation.

"The tower design features glass façade walls that overlap and flare at the top," reads a staff report describing the design. Together, the transparency of the glass and the dynamic shape of the walls give the tower a quality of lightness. The façade of the podium features wood slats on the first floor and uninterrupted stone-colored, fluted metal panels on the next two floors above. The design and the materials of the podium give it a heavy and solid appearance."

The proposed project originated from one of more than one dozen applications submitted to the City of Santa Monica for "Builder's Remedy," developments at the time when the City's housing element was out of state regulators in 2023. City officials settled with WS Communities, the applicant attached to the majority of those projects, to allow them to move forward under formal city processes.

Aerial view looking northeastOttinger Architects

Subsequently, WS Communities lost control of much of its Santa Monica-heavy portfolio to lenders in 2024, including Hankey Capital. Hankey and other lenders have since initiated new plans to redevelop several of the former WS Communities properties with high-rise buildings.

Outside of Santa Monica, Hankey Capital has invested in new residential developments in Koreatown, including a 25-story tower across the street from Lafayette Park.

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