February 8, 2025 Breaking News, Latest News, and Videos

NYC-Based Developer Finalizes Acquisition of Major Santa Monica Residential Development Site

Tishman Speyer to begin construction in late 2022 on its first LA-area residential project

By Sam Catanzaro

An NYC-based developer has finalized its first LA-area acquisition, which will bring 620 apartments and 31,000 square feet of retail across eight new buildings in Downtown Santa Monica. 

On January 3 Tishman Speyer, announced it has completed the acquisition of the Santa Monica Collection, a portfolio consisting of eight development sites across nearly 3.1 acres in Downtown Santa Monica. 

Tishman Speyer, a NYC-based developer with hundreds of properties across markets throughout the United States, Europe, Asia and Latin America, will develop 620 Class A apartments, 116 of which will be designated as affordable, as well as approximately 31,000 square feet of retail.  

According to the company, with entitlements already in place, construction is expected to begin by late 2022, with the first buildings slated to be done by the end of 2024. 

“The Tishman Speyer project will help address Santa Monica’s growing need for more modern, high-quality rental housing. The fundamentally supply-constrained submarket features expensive prices for home-buyers, high barriers to entry for new multifamily development and outdated existing inventory. At the same time, heavy demand comes from individuals and families seeking rental housing in an area offering an attractive outdoor lifestyle and proximity to innovation job centers. The project aims to address that demand, while further enhancing the community’s vibrant atmosphere,” the company said in a press release. 

Since its inception in 1978, Tishman Speyer has acquired, developed, and operated 484 properties across 30 markets worldwide. Its current portfolio includes the Rockefeller Center in New York City, The Springs in Shanghai and TaunusTurm in Frankfurt. The Santa Monica Collection is the company’s first development in Los Angeles. 

“The Santa Monica Collection project represents a rare opportunity to develop a critical mass of new housing in a market where demand is acute,” said Tishman Speyer President and CEO Rob Speyer. “Over the past decade, we have created exciting new residential communities in major cities across the U.S., including New York City, Boston, San Francisco and Washington, DC, with additional projects planned or underway.  We’re excited to be able to establish a significant residential foothold in the Los Angeles market as well.”

<>Related Posts

Student Protest Over Immigration Policies Leads to Walkouts Across the Westside

February 7, 2025

February 7, 2025

Walkout Turns Tense as Counter-Protester Confronts Teen in Video From Venice Students from Santa Monica High School (SAMOHI), Culver City...

10-Year-Old Palisades Girl Wins Martial Arts Medals Weeks After Losing Home to Fire

February 6, 2025

February 6, 2025

Savoian, a green belt in Yoshukai karate, trained at Gerry Blanck’s Martial Arts Center in Pacific Palisades Just weeks after...

Open Arms Art Show Runs Through Mar. 22 in Burbank

February 6, 2025

February 6, 2025

Opening Exhibition Saturday Feb. 8 from 12 to 8p.m. More than an art show, the Open Arms Exhibition is an...

Quiet Luxury: What’s Inside the New Regent Boutique and Sweet July

February 6, 2025

February 6, 2025

The Regent Santa Monica Beach, known for its perfect Santa Monica getaways, or local dining at its Mediterranean-based restaurant Orla...

Santa Monica Waives Outdoor Dining Fees After Wildfires

February 6, 2025

February 6, 2025

101 businesses participate in Santa Monica’s outdoor dining programs, which began as a temporary measure during COVID-19 In an effort...

(Photos) Kamala Harris Visits Destruction of Palisades Fire

February 6, 2025

February 6, 2025

Harris spoke with first responders, service providers, and evacuees about recovery efforts and resources Former Vice President Kamala Harris joined...

Film Review: Companion

February 6, 2025

February 6, 2025

FILM REVIEWCOMPANIONRated R97 MinutesReleased January 31st Companion is like an O. Henry short story, moving at a breezy clip, with...

Best Spots to Celebrate Valentines, Galentines, or Have a Super Bowl Party on the Westside

February 6, 2025

February 6, 2025

Cocktails, Game Day Grub, Valentine’s Pasta, and a Lonely Heart’s Tea Service You will find many excellent ways to celebrate...

Dead Body Found on Sands of Venice Beach, Investigation Underway

February 5, 2025

February 5, 2025

A death investigation is underway By Zach Armstrong A death investigation is underway after local officials discovered a dead body...

Will Rogers State Beach to Become Temporary Hazardous Waste Site

February 5, 2025

February 5, 2025

The site, located on flat, open land near the burn zone, will serve as a staging area where materials will...

FDA Issues High-Risk Recall for Pre-Packaged Broccoli Florets Sold at Walmart

February 5, 2025

February 5, 2025

Recall Is Now Classified as Class I Due to Seriousness Of Contamination The U.S. Food and Drug Administration has classified...

Matū Kai Brings Its Signature Wagyu and Famous Cheesesteak to Brentwood

February 5, 2025

February 5, 2025

Team Behind Beverly Hills’ Acclaimed Matū Is Opening a Second Location One of Beverly Hills’s newest and most popular restaurants,...

SaMoHi Science Teacher Arrested for Alleged Student Relationship

February 5, 2025

February 5, 2025

Ingo Gaida Faces Misdemeanor Charges After Investigation into Inappropriate Conduct A Santa Monica High School science teacher was arrested Wednesday,...

Supermarket Reopens in Palisades Following Wildfire Damage

February 4, 2025

February 4, 2025

The store is currently operating on a generator until power is fully restored The Vons supermarket at 17380 W Sunset...

State Farm Seeks Emergency Rate Hike, Citing Wildfire Losses—Consumer Advocates Push Back

February 4, 2025

February 4, 2025

Insurer Requests up to a 38% Rate Increase, but Critics Call It an Unjustified Cash Grab In a press release...