LA Owner of Premium Extended-Stay Properties Wants to Help Locals Stay in the City
Los Angeles, CA — In the first hours and days of the Los Angeles fires, many Angelenos who evacuated or fled homes immediately sought family, friends and SoCal’s hotels for safe refuge; some left the city altogether. However, lodging with relatives or at per-night hotels quickly becomes unsustainable and costly. While charting their next chapter amidst tragedy and loss, many displaced couples, families and individuals seek the financial and emotional breathing room of quality, extended-stay living as the answer.
Gidi Cohen, founder and CEO of LA-based CGI+ Real Estate Investments (“CGI+”) and affiliate CGI+ Hospitality, owns and manages three upscale, residential hotel-style developments, Villa Carlotta and The James in Hollywood and 888 Hilgard in Westwood, adjacent to UCLA’s campus and hospital complex; with fully-furnished units for flexible stays of 30-days or longer. Ten years ago, he embarked on this niche of the extended-stay segment with the vision of an ever-expanding consumer base whose lives are in transition, professionally and personally. But today, in the devastating, complicated aftermath of the LA fires, the real estate entrepreneur never imagined the scale of needs that these properties would serve:
- Supporting victims with interim living alternatives in the wake of drastically reduced housing options and inflated leases, and while they and their livelihoods are in difficult transition.
- These consumers need viable “right-now” solutions that feel more like home with privacy, without the cookie cutter, transient feel of a hotel and awkwardness of staying with others.
- At least for the short-term, they crave to be free of long-term financial obligations, including the predicaments of securing a mortgage and insurance.
- These upscale extended-stay apartments offer a temporary, secure and convenient base for partners, families or individuals, with comforts, conveniences and amenities.
- Available places for LA residents who want to remain in the area to be near their extended families, communities and workplaces.
- Turn-key, high-quality and fully furnished
- A place to stay for four weeks or longer, while people are figuring out next steps for the longer term and remapping their worlds
About CGI+ Hospitality Collection
A trio of pet-friendly properties for upscale, extended-stay living in distinctive styles, featuring spacious, fully furnished units with modern kitchens, linens and towels; concierge services commensurate with high-end hotels, as well as housekeeping scheduled at guest preference.
- Villa Carlotta on Franklin Avenue in Hollywood
- The James in the heart of Hollywood’s entertainment district
- 888 Hilgard adjacent to the UCLA campus and hospital complex and near major employers in Westwood and Century City (currently full with vacancies expected within 30 days)
About CGI+ Real Estate Investments
Founded in 2013 by Gidi Cohen, CGI+ Real Estate Investments is a real estate investment and development firm that strives to capitalize on overlooked opportunities to reposition and elevate underperforming assets. The company’s diverse portfolio has grown to include niche segments such as upscale, extended-stay properties that offer unique life-in-transition living experiences, with projects located in California, New York, Atlanta and Florida.
citybiz | January 16, 2025
Original article available at: https://www.citybiz.co/article/649601/life-in-transition-the-search-for-alternative-interim-living-solutions/
