About a quarter of the total dwellings are co-living units, which will share kitchens and social areas

With the completion of its newest apartment complex in Marina del Rey’s arts district, developer California Landmark Group is dipping a toe into “co-living,” where living spaces and amenities are shared like they would be in a fancy hostel.

The new complex, called C1, holds 51 market-rate studio, one-, and two-bedroom apartments, as well as 17 furnished co-living units that have three to six bedrooms. In those units, tenants rent one room and share communal kitchens, living, and dining areas.

“This product is a logical outgrowth of the societal trends that have led to the success of WeWork, Uber and many other shared experiences,” said CLG President Ken Kahan.

The price per tenant? About $2,000 per month. (One-year leases for traditional, non-shared units in the same building start at $2,600 for a studio.)

Unlike rent in the standard units, the cost of rent in a co-living unit includes all utilities, special events, building-wide WiFi, and services like home cleaning. Co-living residents can also pay extra for services, including wash-and-fold laundry and dog walking.

The co-living units average 1,650 square feet; bathrooms can be shared or private. Residents of the co-living units also have access to regular resident amenities—the rooftop patios, gym, and pool.

“We believe that as Los Angeles continues to experience a housing crunch, developments that offer multiple solutions to different types of LA residents will be key to keeping housing affordable for all,” said Jon Dishotsky, CEO and founder of Starcity, the company that will manage C1.

The project is located at 4210 Del Rey Avenue, one block east of Lincoln Boulevard.

Source: Real Estate

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