Los Angeles is set to become Common’s largest U.S. market. In fact, between now and the end of 2021, the company will open 1,125 units throughout Los Angeles, starting with 5800 Harold by Common in Hollywood, Common Beverly in Hancock Park and Common Paramount in Hollywood.

“Los Angeles is a top priority market for Common,” said Amalia Paliobeis, senior managing director of real estate at Common. “Being able to give our real estate partners high NOI while simultaneously creating cheaper rent for residents is a win-win for us.”

In addition to its 2021 pipeline, Common has 1,800 units under development in the Los Angeles area set to open through 2024. The firm posted growth in traditional multifamily management in the past year with the 260-unit Stella by Common building opening in 2020. Last March, during the first wave of COVID-19, Common began leasing and managing co-living units at Common Elmwood and completed lease-up of the 141 bed building in less than six months.

Common entered Los Angeles in 2019 with its original co-living offering at Common Melrose in partnership with Category Company.