Culver City-based Goldrich Kest is constructing a 129-unit apartment complex alongside the Los Angeles River in Studio City, a major milestone for the company, as it marks its first ground-up development in more than 15 years.
The five-story multifamily complex, which will be called The Crescent, will feature a variety of studios and one-, two- and three-bedroom floor plans, as well as 17 units designated for affordable living, plus a 145-car underground parking garage.
The complex will include a pool overlooking the Los Angeles River and the future River Valley Bike Path – in August, city council approved a $60 million contract with Metro for the path to be completed in 2028 – as well as an outdoor kitchen, club room, fitness center, theater, open-air roof decks, multiple co-working spaces, a pet spa and a dog park.
Richard Hawthorne, managing director of investments at Goldrich Kest, said The Crescent’s proximity to the L.A. River, just north of Ventura Boulevard, will offer tenants easy public access to a myriad of recreational amenities once the multi-use pathway is completed.
The complex is being designed by Culver City-based architecture firm Lahmon Architects and will feature a modern look intended to integrate well with the nearby developments.
“The tiered balconies and roof decks to the north allow residents to take advantage of the great Southern California weather and ample outdoor space,” Mark Lahmon, president of Lahmon Architects, said in a statement.
“We are excited to work alongside one of L.A.’s most renowned and legendary real estate companies to see this project through to completion and be part of the solution to L.A.’s housing-shortage crisis,” Lahmon said.
Construction is set to break ground later this year and is expected to be completed in 2025.