Los Angeles apartment owners race to add luxury amenities
LA TimesTenants enjoy custom-designed cabanas and one of two pools at the Circa complex on Figueroa Street in downtown Los Angeles. “You almost can’t build a project without a dog park now.” — Scott Dobbins, landlord Evan Farmer, a Circa resident, washes his dog Gunner in the dog park, one of the complex’s many tenant perks. “We wanted to set ourselves apart,” Cusumano said, “and there is no other product in this particular market that comes close in project amenities.” Tenants such as professionals from Providence Saint Joseph Medical Center, people from Warner Bros. studio and empty-nesters pay top-market monthly rents ranging from $3,300 for a one-bedroom to about $6,000 for a three-bedroom unit, he said. “It’s very expensive to build, especially high-rises,” Marks said, which prompts landlords to set their rents high — and justify rents that in many cases exceed the cost of a monthly home mortgage payment. At Marks’ proposed 371-unit complex on Wilshire Boulevard near the coming La Brea Avenue subway stop, he plans to experiment with a range of millennial-friendly comforts including what he called a “robust” co-working space that tenants may want to use in lieu of renting an office.
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