LOS ANGELES--(BUSINESS WIRE)--The concept of live/work lofts in Los Angeles is being taken to the next level. In the heart of the Marina Arts District, California Landmark Group (CLG) has begun construction on one of the most unique mixed-use buildings in Los Angeles: a property that combines residential units with dedicated creative office space, principally for its residents.
R3 Lofts, anticipated to open in the spring of 2016, is a $30 million project featuring 67 apartment units and 7,525 square feet of creative office space in a single building at 4091 Redwood Avenue.
Having built and managed in the Marina Arts District for several years, CLG President Ken Kahan and his team have a keen understanding of the high number of residents in the company’s properties who live and work out of the same space. “There are so many creative professionals who outgrow their own space and are forced to find office space away from their homes,” Kahan said. “The R3 project changes that dynamic. As our residential tenants’ businesses grow we can provide them a solution right downstairs. It’s a new take on the live/work concept, and something we think will be both innovative and extremely practical.”
Besides the top notch building amenities offered at R3, tenants will be able to walk or bike to dozens of nearby restaurants, shops and entertainment options in one of the most dynamic neighborhoods in Los Angeles."
Designed by PK Architecture, the project’s contemporary theme will retain the character of the neighborhood’s existing light industrial buildings, while being at the forefront of future residential projects slated for construction in the area.
A dramatic glass curtain wall lobby/entry is complemented by the rooftop pool that CLG has included in its most recent projects. The building will also feature stunning landscape and hardscape designs by Rios Clemente Hale Studios. The property will also include a media room, gym, fire pit area, ample bike and guest parking, and additional storage which will be available to both the residential and commercial tenants. Rents for the one- and two-bedroom units are expected to range from $2,300 to $3,900 per month.
CLG is one of the pioneering firms that has helped shape the Marina Arts District. Including R3 the company has developed over 400 units and 500,000 square feet on almost 8 acres in the District over the past 10 years. “We look forward to presenting our newest quality product to the community,” Kahan said. “We believe that retaining creative office in the neighborhood is essential to a true live work community.”
The name R3 is in recognition of CLG’s third project on Redwood. The first two – R1 and R2 – are located a few hundred feet to the south of R3. CLG has also developed G1 and G2 on neighboring Glencoe Avenue and will commence another mixed use project on Del Rey in the next 12 months.