Cal-Coast Development Corp. and Rescore Property Corporation have completed phase one of The Rise Koreatown, a 688,000 square-foot, seven-story mixed-use residential and retail project located in the Koreatown neighborhood of central Los Angeles. Phase one completion concludes construction of the multifamily portion of The Rise Koreatown development, including more than 300 apartments.

The fully executed project will bring 363 apartment units and 52,619 square feet of retail shops and market space to Koreatown during a time when demand for convenience and community is climbing, according to Ancelmo Perez, multifamily studio director at Nadel Architecture + Planning, which provided complete architectural services for the project.

“With the culmination of The Rise Koreatown’s residential development, we are eagerly anticipating the execution of phase two, expected to reach completion in early 2024,” said Perez. “The second phase will introduce the extensive ground-floor retail space component, including Zion Market and a corridor of various retail tenants aimed at bringing both everyday conveniences and enticing social experiences to The Rise’s residents and neighboring communities.”