New Designer Building In Hollywood
Hollywood might have a reputation for producing bright, shining stars, but that reputation is built on the hard work of unheralded, unknown entertainment industry professionals. These people need places to live too, and Los Angeles real estate developers are now designing new apartment complexes and condominiums to appeal to this previously underserved segment of the market.
And they aren’t skimping on the amenities.
One such developer is Sam Nazarian – more well-known as a designer of over-the-top hotels, nightclubs and restaurants.
In a recent story in the LA Times, Nazarian discussed his plans for a new, $140-million apartment and retail complex in Hollywood at the southeast corner of Vine Street and Selma Avenue. This 287-unit complex will feature several unique amenities – one of which is VIP access to other Nazarian owned properties such as the Colony nightclub and Katsuya restaurant.
Partnering with Nazarian on this project is the Houston-based firm Camden Property Trust. Together they have come up with a design they believe will appeal to young, entertainment-industry professionals.
Among these amenities are:
- A fully-equipped artists’ annex.
- A soundproof musicians’ studio.
- A movie screening room.
- An indoor/outdoor recreational space with a fully-equipped kitchen and a spa/pool area along the resort model with cabanas and daybeds.
And an outdoor dog park with a media setup.
Nazarian’s reason for incorporating these unique amenities into his overall design is simple. He wants people to use them.
“Why spend money on amazing amenities if no one is going to use them? We want to really encourage people to get to know each other,” said Nazarian.
Nazarian has a reputation for understanding what millenials want, and while this is his first foray into the world of Los Angeles apartments and condominiums, his past experience in other hospitality-related developments gives him a better than average chance of success.
Nazarian and Camden Property Trust have certainly picked an ideal time to enter into the rental market in Los Angeles. With rents and the number of renters expected to continue to rise over the coming years, there is a definite need for affordable, great housing in the Hollywood area.
Those willing to invest in high-quality, appealing properties in the still redeveloping areas of Hollywood that appeal to those in the entertainment industry are sure to reap the rewards, and we all benefit because of it.
Click here to read the LA Times complete profile of Nazarian and the Camden.
Susan Andrews | Estates Director
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Susan Andrews is your ultimate real estate source for Los Angeles, California and surrounding communities.
Photo courtesy of the LA Times.