CGI Kicks Off Construction at Koreatown Project
- Jan 12, 2018
CGI Strategies has begun the construction of The Mariposa, a mixed-use development, featuring 121 residential units and 4,600 square feet of commercial space in Los Angeles. The Mariposa is the first of four multifamily projects by CGI that will bring more than 500 market rate and affordable apartments to Koreatown in the following three years. The first development will feature 17 affordable units and is slated for completion by the spring of 2019.
Located at 269 S. Mariposa Ave., on the northwest corner of Mariposa and W. 3rd Street, the seven-story brick and concrete building will comprise a mix of one- and two-bedroom floorplans, varying from 622 to 1,000 square feet. Interior features include walk-in closets, balconies, stone countertops, lighting fixtures and stainless-steel appliances. The ground level will feature restaurants and community serving retail. Community amenities will include:
- 3,000-square-foot rooftop lounge with pool
- furnished pool house
- fitness center
- theater room
- business center
- communal work space
“I am pleased to learn that construction is underway on The Mariposa in Koreatown,” said Council member Mitch O’Farrell, in prepared remarks. “The creation of more affordable housing is one of my top priorities in office, and this particular project demonstrates that the inclusion of additional units for those who qualify as low income is financially viable in the 13th Council District.”
CGI Strategies recently acquired Cane Island, a 166-unit community in Kissimmee, Fla., for nearly $26 million.
Image courtesy of CGI Strategies