Premier Business Centers




The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
May 25, 2018
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
Work Started on 131-Unit Residential/Retail Project in LA’s Koreatown

1/15/18

CGI Strategies has started construction on The Mariposa, a mixed-use development with 121-unit apartment units over 4.6k sf of street-level retail space in Los Angeles’ Koreatown district.

Construction is the culmination of more than 14 months of planning by CGI, which included working closely with representatives from two Council Districts and numerous neighborhood groups. With density bonuses from the City, CGI nearly doubled the number of affordable housing units that were originally planned for the project, according to CGI President Gidi Cohen.

“The Mariposa is an example of what can be accomplished when everyone is pulling from the same end of the rope,” said Cohen. “We were able to increase the number of affordable housing units in the overall scope of the project and still meet our financial pro formas.”

Located at 269 S. Mariposa Ave, on the northwest corner of Mariposa and W. 3rd St, the seven-story brick and concrete building will feature a mix of one- and two-bedroom floor plans ranging in size from 622 sf to 1k sf, with 17 units dedicated for very low-income earners. At street level will be 4.6k sf of restaurant and community serving retail space.

The Mariposa, whose contemporary exterior design draws upon the character and architecture of the surrounding neighborhood, will be highly amenitized with a 3k sf rooftop lounge with pool, spa and furnished pool house. Other common area amenities include a fully equipped fitness center, theater room, business center and communal work spaces. Each unit will feature walk in closets, balconies, stone countertops, contemporary lighting fixtures and stainless steel appliances.

Construction is expected to be completed in the Spring of 2019.

The Mariposa is the first of four multifamily projects in the CGI development pipeline that will deliver more than 500 market rate and affordable housing units to the Koreatown district of Los Angeles in the next three years.





Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2018 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media