In Downtown Santa Monica, Witkoff and New Valley, LLC have completed work on "The Park," an eye-catching mixed-use apartment complex at the intersection of 5th Street and Broadway.
Located at the southeast corner of the intersection, the project consists of a seven-story building featuring 249 apartments above 55,000 square feet of ground-floor retail space and a basement parking garage.
According to a leasing website, the building includes a mix of studio, one-, two-, and three-bedroom floor plans, with monthly rents starting at $4,350.
Koning Eizenberg Architecture designed The Park, which includes setbacks and multiple courtyards at street level, providing publicly-accessible open space for both passersby and ground-floor commercial tenants. The building's name derives from a one-acre open space at the rooftop, featuring a gym, a pool deck, seating, and observation areas.
The apartment complex may be a prelude to come for a busy stretch of 5th Street in Santa Monica. One block north, a handful of similar mixed-use residential buildings are proposed along between Broadway and Arizona Avenue.
Witkoff and New Valley, LLC previously partnered to develop the $300-million Edition Hotel and Residences on the Sunset Strip in West Hollywood.
- 500 Broadway (Urbanize LA)