CGI+ has received full entitlements for 639 La Brea and are set to begin development on the hotel/multifamily/retail multi-use project in the Miracle Mile/Mid-Wilshire neighborhood. The eight-story development is the result of nearly five years of planning and land assemblage and will comprise three components; a 125 key hotel; 121 residential rental units; and 13,000 square feet of street-level and rooftop restaurant space.
Top stories and aggregated facts on Multifamily Real Estate, curated for Investors and Business Partners.
Asking rents in Los Angeles have increased 7.0% year-over-year as of August, the metro’s highest rate of growth since May 2016, according to Yardi Matrix. That makes the metro part of a national wave that has produced average asking rent growth of 10.3%, which is the highest rate of increase for the U.S. since Yardi began collecting data in the 1908s.
While New York and Los Angeles might have experienced population loss in 2020 at the height of the pandemic, the apartment market is starting to rebound in the two key gateway markets.
We are analysts and developers, community advocates and investigators. Since we assimilate into every community where we develop properties, we are often the first to know what locals and visitors want and need. Simultaneously, we maintain a 30,000-foot view and our...