Lincoln JV Obtains $133M for LA Project
Construction is slated to kick off this quarter.
Lincoln Property Co. and McCourt Partners have secured a $132.7 million construction loan from Bank OZK for the 344-unit ElevenOneEleven, one of the largest entitlements in the history of Culver City, Calif.
The development crew includes KFA Architecture and civil engineer Kimley-Horn. Construction is expected to kick off this quarter.
Two stories of the six-level project will include amenities and 500 parking spaces. ElevenOneEleven is set to feature 2,000 square feet of retail space and 17,520 square feet of publicly accessible outdoor space. Additionally, 52 units will be income-restricted under California’s Density Bonus Law.
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Lincoln and McCourt took over the project last year. The pre-pandemic vision of initial developers 3MR Capital and The John Buck Co. included fewer residential units and significantly more commercial space, particularly a substantial office component.
Located on a 3.4-acre parcel at 11111 Jefferson Blvd., the project rises on the former site of a post office and restaurant, across the street from a shopping center. The Kenneth Hahn State Recreation Area, a 308-acre park, is roughly 3 miles away.
New ambitious Culver City redevelopments
Less than 2 miles away, another one of Culver City’s multifamily projects got approved late last year, consisting of the redevelopment of several commercial buildings at 5757 Uplander Way into 1,077 multifamily units. Notably, a Blackstone unit is behind this residential construction.
Culver City developers continue pivoting from office to residential. Also last year, Hudson Pacific Properties secured approval to demolish the existing buildings at 10950 Washington Blvd., 2 miles from Lincoln’s project, and build a new 508-unit community.
These new approvals reflect ongoing market-wide development trends, with Los Angeles being one of the few metros that recorded more starts during the first half of 2026 compared to the same period of 2025. Developers kicked off work on 3,827 units year-to-date through June, up 1.4 percent year-over-year.
