SANTA MONICA, CA - Cypress Equity Investments (CEI), a national multifamily developer with a growing portfolio in Los Angeles, has announced that the 191-unit second phase of ‘Catherine Santa Monica’, a 281-residence luxury residential apartment community in Santa Monica, CA, has surpassed 70% leased in the nine months since its completion in December 2021. Catherine joins ‘Junction Santa Monica’, CEI’s adjacent 66-residence boutique apartment community on Lincoln Blvd. at Colorado Ave., just three blocks from Metro’s E Line Downtown Santa Monica Station. Junction was completed in September 2020 and is owned exclusively by CEI, while Catherine was developed and is owned in partnership with Chicago, IL-based Fifield Companies.
Combined, the transit-oriented communities bring 347 apartment homes and much needed pedestrian activity to the evolving commercial corridor that lies immediately east of the Santa Monica Place/3rd Street Promenade shopping district. Catherine and Junction are joined on Lincoln Blvd. by several other new multifamily communities as the area is quickly transforming into a more cohesive, mixed-use urban neighborhood. In addition to their proximity to the Metro E-Line Station, their location also provides immediate access to the Santa Monica I-10 Freeway, limiting neighborhood through traffic and further enhancing the pedestrian experience.
“When you are able to secure development sites in such important and high-profile locations, it is imperative that you work together with civic leadership to deliver the type and quality of project the community demands,” stated Michael Sorochinsky, Founder and CEO of CEI. “By every measure; from their design, quality, amenities, sustainability, and market response, Catherine and Junction deliver.”
According to Steven Fifield, Founder and CEO of Fifield Companies, “Santa Monica is one of the world’s most iconic neighborhoods, and competition for development opportunities can be fierce. However, drawing upon the combined expertise and development experience of both Fifield and CEI, we were able to secure and assemble these prime lots for redevelopment and deliver communities commensurate with a Santa Monica address.”
“In addition to much needed housing, the successful completion of both Catherine and Junction brings more than 25,000 square feet of new ground floor commercial space to the rapidly evolving community,” Sorochinsky added. “As the final phase of Catherine stabilizes, we expect to announce new retail deals in the near term.”
Designed by KFA (Killefer Flammang Architects), Catherine is one of the most iconic new buildings in the area with a two-story cantilevered corner plaza, generous pedestrian and retail friendly setbacks, brought together by a contemporary, welcoming design. Catherine is one of the largest and most amenitized apartment buildings in downtown Santa Monica, with two resort-style swimming pools, a fitness center, yoga deck, game room, arcade, and multiple roof decks with ocean views and BBQ grilling stations. Further, Catherine’s indoor/outdoor retail areas will provide a vital mix of service, retail, and restaurant amenities to enhance the neighborhood.
Catherine’s first phase is LEED® Platinum, the highest sustainability level for multifamily communities and features EV charging stations, Energy Star appliances, energy efficient window glazing, high efficiency lighting in units and common areas, low-flow water fixtures, and a greywater irrigation system.
Catherine offers studio, one-, two-, and three-bedroom apartment homes with interiors designed by award-winning RD Jones Interior Design and Architecture. Residents enjoy high-finish bathrooms, walk-in closets, in-unit washers & dryers, large balconies, wood plank-style flooring, Eurostyle cabinets, quartz countertops, custom tile backsplashes, and stainless-steel appliances.
Junction Santa Monica, also designed by KFA, delivers a modern coastal living experience on a smaller scale, but with spacious and light-filled studio, one-, two-, and three-bedroom modern apartment homes with designer finishes. Unlike any other building in Santa Monica, Junction provides a nostalgic modern twist on the bungalow-style apartment. Residents of the 66-unit community enjoy 9-foot ceilings and extra-large windows that open inward, reminiscent of a breezy beach house.
Like Catherine, Junction is pet-friendly and delivers a bright, localized lifestyle experience with an expansive rooftop lounge with BBQ facilities, sun decks, and firepits, private courtyards, bike storage, EV charging stations and extra-large storage options.
Designed by Nadia Geller Designs, interiors at Junction include epicurean-friendly kitchens, high-design bathrooms, European style cabinetry, elegant flooring, walk-in closets, in-unit washers & dryers, quartz countertops, custom tile backsplashes, and stainless-steel appliances. Select units also feature expansive private balconies to take advantage of the coastal weather.
With offices in Aspen, Los Angeles, Boston, Chicago, Dallas, Denver, Florida, and New Jersey, CEI has completed 9,004 apartment residences to date and has more than 11,000 in the pipeline.
About Cypress Equity Investments: Cypress Equity Investments is a national real estate investment company comprised of professionals who have been executing real estate investment strategies for the past three decades. Since its inception in 2001, CEI has been executing ground-up and value-add real estate projects in all asset classes, with a primary focus on multifamily, in top-tier markets across the United States. For more information, explore www.cypressequity.com
About Fifield Companies: Fifield Companies is a boutique real estate development team with deep expertise in land acquisition, finance, construction management, architecture, design, marketing, operations, and management. For more than four decades, the firm has executed more than $7 billion in developments encompassing 21 million square feet of residential and office projects, including 13,000 residential units. The firm employs a collaborative team strategy, allowing it to be agile and reactive, and employing creative solutions to overcome obstacles. Fifield Companies’ experience has allowed the firm to refine its processes, so that it can plan and build developments that not only make sense economically but help improve markets while minimizing environmental impact.