Lendlease JV Delivers Los Angeles Mixed-Use Property
The development comprises multifamily and office space.
Lendlease and Aware Super have opened Habitat, a mixed-use property comprising 260 multifamily units and 260,000 square feet of office space across two distinct buildings in Los Angeles.
Massachusetts Mutual Life Insurance Co. issued a $160 million construction loan for the entire mixed-use development in 2024, according to Yardi Matrix data. Lendlease and Aware Super topped out the project that same year. The debt is due in 2028.
The development crew included SHoP Architects, Steinberg Hart, Kelly Wearstler, Jules Wilson Design Studio, A+I, and RELM. The team’s efforts resulted in net-zero-carbon construction, with the residential portion aiming for LEED Gold and the commercial component targeting LEED Platinum certification.
Dubbed Habitat Residences, the multifamily tower rises 12 stories, comprising studio, one- and two-bedroom layouts, as well as penthouse units, ranging between 443 and 1,305 square feet.
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Some of the top multifamily amenities at the property include a rooftop dining room and outdoor terrace, gym, as well as an elevated deck with swimming pool, spa, cabanas and grilling stations, in addition to a coworking space, lounge, media room and library.
Located at 3411 S. La Cienega Blvd., the property is inside the Baldwin Hills neighborhood, within walking distance of the La Cienega/Jefferson Metro station and about 9 miles southwest of downtown Los Angeles.
Although Lendlease had initially planned its U.S. exit in 2024 by selling its operations to Consigli Building Group, the company is still active across several key markets. Earlier this year, Lendlease and Aware Super secured $450 million for the refinancing of The Riverie, an 834-unit multifamily property in Brooklyn, N.Y.
Los Angeles residential sector keeps steady
Greater Los Angeles had upward of 17,000 units underway in May, according to Yardi Matrix data. On a trailing 12-month basis as of April, deliveries across the metro made up 2 percent of its total stock, according to a report by the data provider.
CIM Group contributed to the market’s multifamily completion volume. Earlier this year, the company brought online Coro, a 168-unit community inside the metro’s West Adams area, about 2 miles from Habitat.
