July 15, 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submarket features expensive prices for home-buyers, high barriers to entry for new multifamily development and outdated existing inventory.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

California Hits Two-Thirds Clean Energy Milestone

July 15, 2025

July 15, 2025

This year, clean energy has powered the state for an average of seven hours daily, with over 90% of days...

Venice Beach to Host First Medal at 2028 Olympics

July 15, 2025

July 15, 2025

Venice Beach, known for its vibrant boardwalk, will kick off the 844 ticketed events, hosting the triathlon along its coastline...

Santa Monica Man Arrested for Allegedly Exporting Electronics to Iran

July 14, 2025

July 14, 2025

Ostovari, identified as the CEO of a Tehran-based engineering firm, allegedly orchestrated the scheme since 2018  A 66-year-old Santa Monica...

Federal Judge Sides with Santa Monica, Other Local Governments Against Immigration Raids

July 14, 2025

July 14, 2025

Santa Monica Mayor Lana Negrete praised the ruling, saying it reaffirmed the city’s commitment to protecting residents from unjust detention...

Veterans Tech Group to Launch Los Angeles Chapter with Networking Event

July 14, 2025

July 14, 2025

Founded in San Francisco, VetsInTech operates 20 chapters nationwide and claims more than 60,000 veterans VetsInTech, a national nonprofit that...

Film Review: Jurassic World: Rebirth

July 13, 2025

July 13, 2025

“The story is simplistic and predictive, and that’s all it needs to be, because the age-old battle to survive the...

Santa Monica Assault Suspect Faces Multiple Charges, Authorities Seek Additional Victims

July 13, 2025

July 13, 2025

Marbra allegedly assaulted a 52-year-old woman on the Strand in Santa Monica, facing a felony count of assault with intent...

SM.a.r.t.Column: Does the Rand Corporation have a future in Santa Monica?

July 13, 2025

July 13, 2025

“Although no one said it outright, it is clear to all that RAND is feeling—and will continue to feel—the impact...

County Health Leaders Decry Federal Policy Barring Undocumented from Programs

July 12, 2025

July 12, 2025

The officials argued the policy jeopardizes care for all residents, noting it could deter people—regardless of status—from seeking treatment  Leaders...

County Supervisors Move to Preserve Measure J Amid Charter Error

July 12, 2025

July 12, 2025

Measure J mandates that at least 10% of the county’s locally generated, unrestricted funds be allocated to community investments like...

LA Medical Center Seeks Help Identifying Unconscious Patient

July 12, 2025

July 12, 2025

He has been unconscious since admission, and staff have been unable to determine his identity Los Angeles General Medical Center,...

Mayor Bass Issues Directive to Protect Immigrant Communities

July 12, 2025

July 12, 2025

The order expands access to city resources for affected families and requests records from ICE, including details on arrests Mayor...

Downtown Santa Monica CEO Andrew Thomas to Step Down

July 11, 2025

July 11, 2025

Thomas, who rejoined DTSM, Inc. in 2022, oversaw the introduction of a private security program, expanded homeless outreach, and boosted...

Conservancy to Tour Historic Miles Playhouse at State of the City Event

July 11, 2025

July 11, 2025

Built in 1929, the Miles Playhouse serves as the centerpiece of Lincoln Park The Santa Monica Conservancy will offer 15-minute...

Sen. Ben Allen Highlights Challenges, Economic Gains for LA28 Olympics

July 11, 2025

July 11, 2025

The remarks came during the first informational hearing of the Senate’s Special Committee on International Sporting Events State Sen. Ben...