
$30M Marina Arts District MF Completed with Co-Living Units
California Landmark Group (CLG) completed construction of C1, the first large multifamily development in Los Angeles to feature co-living housing. The property at 4210 Del Rey Ave. in Marina del Rey’s Arts District includes 51 luxury market-rate studio, one and two-bedroom apartment homes.
The $30 million project also includes 17 fully furnished co-living units, with floor plans ranging from three to six bedrooms, each specifically-designed for communal living.
CLG’s Ken Kahan says, “While the co-living units are larger and fully-furnished, which makes them more expensive to develop, the cost per bedroom drops and we can provide individuals more affordable housing options than traditional rental units.”
He notes the emergence of co-living was inevitable in Los Angeles, given societal shifts and rent burdens that can soak up as much as 50 percent of a renter’s income. Starcity, a San Francisco-based pioneer in community-based living, is overseeing property management and programming for both co-living and market rate units.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development