LaTerra Development has announced the start of construction of a two-building development near the Colorado Center office complex in Santa Monica.
Located at the intersection of Broadway and Cloverfield Avenue, the project will consist of two three-story structures featuring a combined 49 residential units with 10,711 square feet of ground-floor retail. Plans call for a mix of studio, one-, two-, and three-bedroom dwellings - including five to be set aside for lower-income renters - as well as 8,500 square feet of resident amenities.
“It’s a privilege to develop in Santa Monica and we’re excited to bring much needed affordable and market rate housing to the thriving Santa Monica media district,” said Chris Tourtellotte, Managing Director of LaTerra Development.
Tighe Architecture is designing both buildings, which will sit atop basement parking for 128 vehicles. Renderings depict contemporary low-rise structures capped by amenity decks.
Completion is anticipated in the third quarter of 2020.
In addition to the Broadway and Cloverfield apartments, LaTerra broke ground earlier this year on multifamily residential projects in Downtown Los Angeles and Los Feliz.