Wednesday, April 30, 2014

Final Phase of South Park's Avant Apartments Rising

As South Park's latest mixed-use development starts work on Olympic Boulevard, why not head a few blocks south to check in on an earlier arrival to the Downtown development party?  Directly across the street from the LA Convention Center, construction on the second and final phase of the $170 million Avant Apartments has now progressed to the fifth floor above ground.  Located at 1500 South Figueroa Street, the mixed-use development from Century West Partners will top out at seven stories, containing 193 market rate apartments above 9,500 square feet of street level retail space.  Designed by Downtown-based GMP Architects (801 Olive Street), the low-rise building will offer future residents two floors of underground parking, in addition to amenities including a pool, a spa, and a five minute walk to Pico Station.  No need to mention the enviable rooftop view of the expanding Downtown skyline.  1500 Figueroa Street will reportedly be completed sometime in late 2014 or early 2015.  Phase one of Avant, which consists of two buildings linked by a pedestrian bridge, is currently pre-leasing for its first move-ins next month.  That portion of the project creates a cumulative 247 apartment units, in addition to 11,000 square feet of ground floor commercial space along Figueroa Street.

1500 Figueroa Street; Image Credit: Avant South Park

With a walkable location in close proximity to transit, Avant is similar in profile to the majority of Century West's Southern California real estate portfolio.  Century West is currently working on several residential projects near the future Downtown Santa Monica terminus of Expo Line.  The West LA-based developer is also in the midst of construction on K2LA, a three-building, 476-unit apartment complex located a short walk from Metro's Wilshire/Vermont Station.

1355 S. Flower Street

Widened sidewalks and new plants along Flower Street.

1340 S. Figueroa Street