WESTLAKE VILLAGE, CA - California Landmark Group (CLG) announced it has fully leased the SW, an 88-unit multifamily development in the Sawtelle Japantown neighborhood.
The SW is located at the intersection of La Grange Avenue and Sawtelle Boulevard. Sawtelle Japantown is known for its trendy boutiques and multicultural restaurants centered on Sawtelle Boulevard in West Los Angeles. The neighborhood appeals to a wide demographic, which has fueled its recent growth.
The SW is the first building to be completed under the City of Los Angeles’ Transit Oriented Communities ordinance (TOC). The TOC program was created as part of the successful 2016 ballot initiative JJJ to incentivize developers to build more affordable housing near public transit. Due to CLG’s transition of entitlements during construction SW is the first project to be completed pursuant to the TOC ordinance. Under the ordinance CLG was able to increase density of the four-story development from 72 to 88 units.
The SW features a mix of traditional single, one- and two-bedroom floor plans including 31 “micro” units. All 88 units feature concrete or vinyl floors, quartz countertops, stainless steel appliances, building-wide high-speed internet access and Wi-Fi. Amenities include a rooftop deck with a bbq and dipping pool, resident lounge and rec room, state-of-the-art fitness center, and a courtyard.
The SW’s micro units have been a strong draw for young professionals and college students that make up a significant percentage of the West Los Angeles population and have helped bring the property to lease up in less than a year, according to CLG President Ken Kahan. “Our micro units have broadened the SW’s appeal to a different market segment,” Kahan said. “Young professionals are willing to accept a smaller space in exchange for the opportunity to live on the Westside at reasonable rent in a Class A property.”
About California Landmark: California Landmark Group (www.californialandmark.com) is a Los Angeles-based real estate operating company that has acquired, repositioned and developed more than $750 million worth of luxury multifamily and Class A commercial real estate assets throughout California over the past three decades.