LOS ANGELES--(BUSINESS WIRE)--San Francisco-based Carmel Partners announced today that pre-leasing will launch this month at Eighth & Grand, a premier 700-unit mixed-use development occupying a three-acre city block at the corner of Eighth Street and Grand Avenue in the heart of downtown Los Angeles. The highly-anticipated project is set to open its doors to residents this summer and will offer luxury residences purposefully designed for the flexible comforts of modern living with unparalleled community amenities and high-end retail partners including the downtown area’s flagship Whole Foods Market®. The Eighth & Grand pre-leasing office is located at 433 West 7th St, Los Angeles, CA 90014.
“We are excited to break into the downtown Los Angeles market with Eighth & Grand,” said Dan Garibaldi, Senior Vice President, Development at Carmel Partners. “Los Angeles’ urban core presents a strong real estate investment opportunity and we are pleased to introduce a product featuring amenities crafted to fit the growing demands for an urban, sophisticated lifestyle. Eighth & Grand is poised to become the most coveted address in downtown Los Angeles where a diverse base of residents can live, work and play.”
Thanks to strong gains in the job market and growing desire for urban living, downtown Los Angeles is amongst the most in-demand rental markets in the area. Eighth & Grand is centrally-located in the heart of downtown Los Angeles’ recently-revitalized dining, entertainment and cultural scene. The seven story steel and concrete structure will house 700 luxury residences, best-in-class indoor and outdoor amenities, downtown’s flagship Whole Foods Market®, and 8,000 additional square feet of retail shops below to enhance the resident experience. Eighth & Grand offers a variety of living spaces to fit all lifestyles, featuring studios, one-, two- and three-bedroom residences with 9-foot ceilings and floor-to-ceiling windows, and ranging in size from 516 square feet to 1,411 square feet. Residences on the penthouse floor will boast 12-foot ceilings and impressive views of the surrounding neighborhood.
Eighth & Grand will feature unique, thoughtfully-appointed styling by Commune, the preeminent Los Angeles-based design firm behind the acclaimed Ace Hotel and recently renovated United Artists Theater. Interiors will include a variety of finish options that expertly balance sleek details with elements of sophisticated, modern design. Polished concrete floors and hardwood-style flooring complement the warm materials and colors to create an effective blend of contemporary styling. Custom Italian cabinets and tiling will complete the kitchens, which also include Frigidaire appliances, elegant quartz countertops and luxury Brizo fixtures.
Residents of Eighth & Grand will enjoy exclusive access to 24-hour concierge services and world-class amenities. The expansive social spaces are designed to serve as extensions of the home and cultivate a uniquely connected, urban community. Amenities include a 5,400 square foot state-of-the-art fitness center designed by New York-based firm The Wright Fit, top floor sky lounge with bar and private dining area, two resort-style pools, verdant landscaped terraces with outdoor dining, a calming Zen garden, and 25-person theater-style cinema screening room.
The adjacent South Park neighborhood continues to flourish as the fastest growing downtown district in Los Angeles. Hundreds of new dining, retail and entertainment venues are within walking distance including STAPLES Center, L.A. Live, Nokia Theatre and the newly-reopened historic Orpheum Theater. Nearby hotspots include the Ace Hotel and The Block shopping center and award-winning restaurant Bottega Louie is next door. The community is within walking distance of the expanding Metro system to provide convenient access to additional job centers, attractions and universities from Santa Monica to Hollywood and beyond.
About Carmel Partners
Founded in 1996, Carmel Partners is a sector-specialist in real estate investment management. Carmel seeks superior risk-adjusted returns across varying market cycles by adhering to a philosophy of specialization in U.S. multifamily investments and execution of value creation strategies through a vertically integrated platform. Currently, Carmel manages approximately $3.6 billion in real estate assets for over 60 institutional investors including many of the nation's leading endowments, foundations, pension plans and family offices. Headquartered in San Francisco, Carmel has offices in Los Angeles, Irvine, Seattle, Denver, Honolulu, Washington D.C. and New York. For more information please visit www.carmelpartners.com