Cityview Completes Los Angeles Community
Located in a downtown Opportunity Zone, the property offers more than two dozen affordable units.
Cityview has added a 296-unit property located in downtown Los Angeles property to its portfolio. Constructed in an Opportunity Zone, the Jasper community is partially-affordable.
The developer broke ground on the project in January 2021. WPIC Construction was the general contractor on the project, while AC Martin was the architect. Nadia Geller Designs was brought on as the interior designer, while Labib Funk and Associates was hired as the project’s engineer.
“Jasper has experienced extremely strong leasing demand,” Sean Burton, CEO of Cityview, told Multi-Housing News. “The team delivered a great product that has really resonated with renters.”
The seven-story community offers studio and one- and two-bedroom units ranging from 517 to 1,328 square feet. The units include in-unit washers and dryers. Community amenities include a pool deck with a firepit, a rooftop pool with cabanas, a quad area with an outdoor kitchen where activities are hosted, a social lounge with Korean barbecue grills and an outdoor cinema, as well as a dog playground with a dog wash area, coworking space with individual desk spaces and private meeting rooms. There is also an onsite fitness center with a yoga room. The mixed-use community will offer 5,000 square feet of retail space.
Cityview has designated 25 of Jasper’s units as “very low affordable,” with three set at “moderately affordable”. Jasper was built to LEED Silver standards with sustainability features like a dry well that collects stormwater to refresh the groundwater supply, motion and timing sensors and high-efficiency plumbing and HVAC systems.
Located at 2528 S. Grand Ave., the community is next to University of Southern California and near downtown Los Angeles’ many retail, restaurant and nightlife options. A transit-oriented development, Jasper is located a block away from the Los Angeles County Metropolitan Transportation Authority’s 23rd St. metro station. Burton also told MHN that the community’s lease-up process has led to a 60 percent occupancy rate after three months of preleasing efforts.
Two more LA communities nearing completion
Cityview has been working on other multifamily projects in the Los Angeles metro as well. The developer is nearing completion for The Parker and has already started preleasing for the 123-unit community in Los Angeles. Similarly, Cityview is about to complete construction on the 243-unit Belle on Bev, located in Los Angeles’ Historic Filipinotown neighborhood later this year. The developer also recently started construction on South Bay X, a 265-unit in Los Angeles’ South Bay neighborhood that is being developed alongside Stockbridge.
The developer focuses on western U.S. markets, particularly urban and suburban markets that have a high barrier to entry, significant undersupply and low housing affordability. Cityview’s portfolio totals 130 projects, most of them in California, with some communities located in Denver and Portland.