935 Pico to feature rooftop amenities, cater to young professionals and couples
LOS ANGELES – Nov. 12, 2020 – Cityview, a premier multifamily investment management and development firm, today announced the groundbreaking of 5935 Pico, a 123-unit mixed-use community adjacent to the Carthay Square neighborhood of Mid-City Los Angeles. The seven-story, highly amenitized community will include 13 affordable units, 3,340 square feet of retail and two levels of subterranean parking. Construction is expected to complete in Q4 2022.
“As a highly walkable, transit-oriented community in the heart of a fast-growing, vibrant area of Los Angeles, 5935 Pico is a natural fit for Cityview’s investment strategy,” said Sean Burton, CEO of Cityview. “Catering to young professionals and couples, the project will deliver much-needed housing to Mid-City Los Angeles, which is currently undergoing a significant revitalization. We are excited to break ground on this project and bring vital housing as well as several hundred jobs to the community during this especially difficult time.”
The mixed-use community will offer 27 studio, 75 one-bedroom and 21 two-bedroom floor plans, all featuring stainless-steel appliances, Nest thermostats, vinyl flooring, quartz countertops and in-unit washer-dryers. Additional upgraded amenities will be available in the penthouse units.
5935 Pico features a rich outdoor amenities package that creates ample connectivity between indoor and outdoor living, including multiple rooftop areas for residents to enjoy, a rooftop pool and spa, BBQ areas, a dog lawn, tables with firepits, a screening projector and an outdoor fitness lawn. Additional amenities include a fitness center, leasing office, club room, lobby and mail room.
The community’s design is inspired by the area’s nearby galleries and museums, with white stucco accented by metal siding and blue exterior tile. Drawing from that inspiration, residents and visitors will recognize art-inspired touches throughout the building. From the design and materials to the furniture and decor, the gallery and museum feel will be creatively and tastefully integrated into the living experience.
“Our goal with any new development is to integrate into the community,” added Burton. “We take a lot of inspiration from the surrounding neighborhood and strive to complement it, not counteract it.”
5935 Pico is expected to generate more than 500 jobs for the community over the course of the pre-construction, construction and operations phases. The project also is designed to achieve LEED Silver certification, with a retail portion that can accommodate up to four tenants.
Residents of 5935 Pico will be walking distance to the Los Angeles County Museum of Art’s new museum and lifestyle center, which is currently under construction, and the other museums that are the heart of Museum Row. With the coming addition of the one-of-a-kind Academy Museum at Wilshire and Fairfax, Museum Row is going to be further transformed, with more than $1 billion invested into creating a cultural hub for the city. It also is located near a variety of entertainment, dining, cultural and retail offerings, including The Grove, La Cienega’s restaurant row and Beverly Hills’ Golden Triangle.
Cityview purchased the property, which previously housed a shopping center, from AMREAL 5935 Pico Investors LLC in January 2019.
Cityview is partnering with builder WPIC Construction LLC, architecture firm Togawa Smith Martin, interior design firm Nadia Geller Designs and structural engineer Labib Funk + Associates on the project. Additional Cityview projects expected to break ground in Q4 2020 include a 296-unit project on the corner of Adams Boulevard and South Grand Avenue.
Founded in 2003, Cityview is a premier real estate investment management and development firm dedicated to redefining 21st century living. Focused on developing and acquiring value-add multifamily and mixed-use projects in high-growth markets in the Western US, Cityview connects the comforts of home with the energy of city life. Cityview investments have generated more than $4 billion in urban investment across more than 100 projects to date. For more information, visit cityview.com.