Developer plans fully furnished apartments in DTLA

April 20, 2015

3043236-inline-i-1-las-longest-building-fits-an-entire-copy copyThere are thousands of new apartments in DTLA being built. So how would one stand out? A Canadian developer is looking to set itself apart by offering fully furnished units in its nearly completed $200-million luxury high-rise which will be aimed at high-end clients. This unusual strategy, all 300 units in the 330story tower at 888 S. Olive St., will be furnished with sofas, beds, multiple big-screen televisions, along with pots and pans and nearly everything else renters will need to live there. This will be a major part of DTLA’s revival as a thriving urban center giving corporate housing with a Hollywood edge.

In addition to targeting business travelers on temporary assignment in LA, the apartments are intended to lure affluent newcomers who want to hit the ground running while they look for permanent housing. The developer wants to test the market in LA. Stats from similar prestigious apartment buildings in the area have tenants in such units that tend to stay one to three moths, prefer hotel-like atmosphere, and willing to pay premium rent if the complex has high-design elements that give it an air of luxury. These units will have one to three bedrooms, floor-to-ceiling windows, a balcony, and laundry facilities. Communal areas will include an outdoor pool, private cabanas, hot tub, poolside bar, outdoor dining area on roof, with fireplaces and barbecues, with a steam and sauna areas with rain showers.

Rent will start at $5,000/month where expected tenants will be traveling athletes, entertainers and corporate workers. New life is coming to South Park and the renaissance of downtown LA.

150 EL CAMINO DRIVE, LOS ANGELES,CA. 310-595-3888 © 2017 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY.

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