Portfolio

Metropolitan Lofts

Los Angeles, California


Market: Los Angeles

Type: Multifamily

Role: Development Partner

Status: Development completed in 2006

Mid-rise residential building developed on a surface parking lot in downtown Los Angeles.

Property Size

  • 266 rental apartments
  • 8,500 square feet of retail space

Local Population Density

  • 18,500 people/square mile

Highlights

  • Invested in the development project through a venture with the property’s developer, Forest City Residential West.
  • Located one block east of the Staples Center and L.A. Live.
  • Eight-story residential building with ground-floor retail space and an attached parking structure.
  • Project amenities include a lap pool with extensive sun deck, an indoor fitness center and an interior courtyard with a fire pit.
  • Apartment units feature high ceilings, open floor plans and expansive window areas.
  • Site is subject to a long-term ground lease from the Community Redevelopment Agency of the City of Los Angeles.
  • Construction was financed through proceeds from the sale of tax-exempt bonds; 20% of the units are designated as affordable housing for low- and moderate-income residents.

Awards & Honors

  • Winner of the National Association of Home Builders Multifamily Council’s Pillars of the Industry Award in 2007 as the nation’s Best New Loft Community.
  • Received the Los Angeles Business Council’s Best Multifamily Mid-Rise Architectural Award for 2005-06.

Related Websites

 

Walk Score:  91     |    Transit Score:  100     |     Bike Score:  76