A project website offers a better look at plans from Hankey Capital to bring a new multifamily residential development to an empty lot in Santa Monica.

The proposed development, named for its address at 2901 W. Santa Monica Boulevard, has proposed the construction of an eight-story edifice featuring 129 studio, one-, and two-bedroom apartments atop a 132-car garage.

View looking northeast from Santa Monica and YaleUrbanize LA

According to the website, Hankey would be required 13 of the apartments be set aside for rent as affordable housing at the moderate-, low-, and very low-income levels.

Ottinger Architects is designing 2901 Santa Monica, according to city records. Renderings depict a modern podium-type building lined with cantilevered balconies. On-site amenities would include a central courtyard, as well as outdoor decks on the 8th floor and rooftop.

Street-level view looking northOttinger Architects

The proposed development began as one of 13 Builder's Remedy projects which developer WS Communities agreed to process administratively with the City of Santa Monica in 2022. At the time, the proposed development was envisioned as a taller 12-story edifice featuring 190 apartments. WS Communities subsequently lost much of its portfolio to creditors, including Hankey and Madison Realty Capital, which have pushed forward with the former Builder's Remedy developments.

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