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6/29/23
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Phase One work has been completed at The Rise Koreatown, a 688k sf, seven-story mixed-use residential and retail project located at 3525 W 8th St, in the heart of L.A.’s Koreatown neighborhood. Phase one completion concludes construction of the multifamily residential portion of The Rise Koreatown development, including over 300 apartment units and amenities such as a fitness center, swimming pool, and clubroom.
Developed by Cal-Coast Development Corp and Rescore Property Corporation, the fully executed project will bring 363 apartment units and 52.6k sf 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,” says 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.”
With 56% of the world’s population living in cities as of 2021, a number that is expected to rise to 68% by 2050, mixed-use developments are increasingly being viewed as a viable way to help create sustainable urban environments that benefit residents, businesses, and neighborhoods, adds Perez.
The Rise was awarded with the PCBC Award of Merit for best mixed-use project at the 59th Annual Gold Nugget Awards. PCBC's Gold Nugget Awards are presented to top innovators in design, planning, and development. Selected by a panel of top industry experts who reviewed nearly 600 entries, these winners showcase the most exciting trends in design, planning, and building.
The Rise consists of a total of seven stories, with parking on three levels, two of which are subterranean, and offers luxury studio and one-bedroom apartments in a highly walkable urban location. All the apartment units on the third floor feature patios, and nearly all apartments above have balconies, allowing for excellent views of the surrounding city or courtyard. Amenities include a two-story gym, a clubhouse with Karaoke theater lounge, virtual golf driving range, game room, study rooms, a card room, roof terraces with barbeques, outdoor TVs, and a dog lounge.
The Rise’s location in the heart of Koreatown within walking distance to local art galleries, eclectic cuisine, vibrant nightlife, and restaurants is expected to attract young professionals to the area. Once phase two of the development is complete, street-level retail at the project will bring jobs to the community as well.
Sustainable features at The Rise include a roof equipped with over 6k sf of solar panels, EV charging stations for 97 vehicles, and bicycle storage for 461 bikes that tenants and residents are encouraged to use for short trips in lieu of their vehicles. Additionally, all apartments are ADA-adaptable units and there are 37 affordable units.
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