Social media posts and a recent community meeting have offered a first look at the next residential tower on the way to Downtown Santa Monica.

The proposed development, planned for adjoining parcels at 1433-1437 6th Street, would sprout mid-block between Broadway and Santa Monica Boulevard. Madison Realty Capital, which has controlled the site since early 2024, has proposed the construction of a new 18-story building which would feature 172 residential units atop a two-level subterranean parking garage.

Aerial view looking eastOttinger Architects

Plans call for a mix of one- and two-bedroom dwellings, of which 26 would be reserved for affordable housing.

Ottinger Architects is designing the tower, which would stand nearly 185 feet in height and include a rooftop pool deck, as well as other amenities.

Madison Realty Capital was a lender to prominent Santa Monica real estate firm NMS Properties, which had previously entitled the site for redevelopment. NMS lost control of roughly 50 percent of its portfolio in January, and turned it over to a group of lenders, including Madison.

Aerial view looking southeastOttinger Architects

In addition, the proposed tower is one of 10 Builder's Remedy projects which Santa Monica agreed to process as part of a settlement agreement with NMS in 2023. That has allowed the project an 18-story, 185-foot building height, which far exceeds the maximum 130-foot height permitted by Santa Monica's Downtown community plan.

The project follows hot on the heels of an even larger 24-story tower which Madison Realty Capital is pitching for a nearby site at 601 Colorado Avenue. That project is also a part of the Builder's Remedy settlement agreement.

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