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Trammell Crow Residential Purchases West Hollywood Site for Development of 166-unit Luxury Apartment Community

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10/04/2013 | 05:01am EST

Trammell Crow Residential, Western Division, has purchased the 1.33-acre site at 7141 Santa Monica Blvd. for the development of Domain West Hollywood, a mixed-use development of 166 luxury apartments with resort-style amenities and approximately 9,300 square feet of ground floor retail and restaurant space.

Timothy Barden of Land Advisors represented the seller Walbern Development in the transaction. The buyer was a joint venture of Trammel Crow Residential (TCR) and Cornerstone Real Estate Advisers, on behalf of an institutional client. Fifth Third Bank is the construction lender.

With discretionary approvals in place, TCR expects to begin demolition of the sound studio and industrial facility on the property this fall and begin construction of Domain WeHo next spring. Residents are scheduled to move in spring 2016.

"The architecture will pay homage to its historic location across the street from the Formosa Café, which has been a Hollywood celebrity hangout for decades," said Garth Erdossy, senior managing partner at TCR. Historic courtyard housing, contemporary L.A. design and bold Hollywood Regency style inspired the architecture.

The design team includes architects Studio One Eleven, Style Interiors, and landscape architects EPT Design. TCR will construct the project with Luke Daniels, managing director, and Tony Ditteaux, president of construction, overseeing all aspects of planning, construction and marketing.

The primary design feature is the grand entry portal and stair, mirroring the red hues of the legendary Formosa Café across the street and framing vistas of the city and the Hollywood sign. The portal leads to a central courtyard featuring a pool, kitchen, and fire lounge.

"Domain blends an A+ project with an A+ location," said Daniels. "The site has a near-perfect score of 94 out of 100 and is designated a 'walker's paradise' at WalkScore.com. Domain will be located within 2.5 miles of the famed Hollywood Bowl, the TCL (former Graumen's) Chinese Theatre, Sunset Strip, galleries and boutiques."

Apartments at Domain will range from 691 to 1,270 square feet. Rents are anticipated to start in the $2,000s for the market-rate units. In addition to the 133 market-rate apartments, there are 33 affordable units planned.

The Western Division of Trammell Crow Residential has more than 1,500 apartment units in Southern California in development or recently completed.

Rendering available upon request.

Metz Public Relations
Barbara Metz, 858-677-0720
metzpr@gmail.com


© Business Wire 2013
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