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January 16, 2019
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MULTIFAMILY NEWS
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California Landmark Group Completes Co-Housing Project in Marina del Rey

1/08/19

California Landmark Group (CLG) has completed construction of C1, the first large multifamily development in Los Angeles to feature co-living housing. C1 includes 51 luxury market-rate studio, one- and two-bedroom apartment homes. C1 also includes 17 fully furnished co-living units, with floorplans ranging from three to six bedrooms, each specifically designed for communal living.

“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,” said CLG President Ken Kahan. “This product is a logical outgrowth of the societal trends that have led to the success of WeWork, Uber and many other shared experiences. Its application to housing, particularly in Los Angeles, where rent-burdened tenants can pay as much as 50% of their income on rent, was inevitable and we’re proud to be at the forefront.”

Each co-living unit, which averages 1.7k sf, includes three to six bedrooms with a private or shared bathroom, fully equipped modern kitchen, living and dining areas. Each member in a co-living unit also has access to shared communal spaces such as rooftop patios and pool, gym and other common areas, all designed to foster community and social interaction. The large main floor lobby features a communal kitchen and doubles as a co-working and event space.

Leases for the co-living spaces are designed with flexible terms, and rent includes all utilities, special events, building-wide WiFi, shared supplies, as well as communal services like home cleaning, with the option to add on other services like wash-and-fold laundry and dog walking.

To perfect the communal experience CLG has engaged Starcity, a San Francisco-based pioneer in community-based living, to oversee property management and programming for the both the co-living and market rate units.

C1 is located at 4210 Del Rey Ave, one block east of Lincoln Blvd in Marina del Rey’s Arts District. CLG also is developing the nearby 230-unit G8, its seventh and largest apartment project in the Marina Arts District since entering the market in 2006. With the completion of G8 in the fourth quarter of 2019, the Los Angeles based real estate investment and development firm will have invested more than $350 mil in the area delivering more than 725 apartment units.





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