May 27, 2024 Breaking News, Latest News, and Videos

Firm Expands Number Units Planned for Housing Development on Wilshire

Last Year, the Firm Bought Three Properties on Wilshire Boulevard With Plans to Construct Multiple Mixed-Use Developments

Cypress Equity Investments has significantly expanded its housing development project on Wilshire Boulevard in Santa Monica. Originally slated for 71 units, the firm now envisions constructing a total of 170 units at 2501 Wilshire Boulevard, according to reports from Urbanize LA, referencing a project website.

The proposed complex is set to replace existing commercial buildings and will manifest as an eight-story structure. It will incorporate 17 affordable housing units, along with commercial space above the ground floor and an underground parking facility accommodating 253 vehicles.

Initially conceived as a four-story complex housing 71 units, Cypress Equity Investments, led by Michael Sorochinsky, has undertaken multiple housing projects in Santa Monica. 

Last year, it bought three properties on Wilshire Boulevard with plans to construct multiple mixed-use developments consisting of more than 300 units of housing. The project at 1527 Lincoln Boulevard recently saw an increase in its unit count, growing from the original 114 units to 210 units, according to Real Deal. At 2025 Wilshire, the firm plans to construct a four-story complex, featuring 46 units and approximately 5,100 square feet of ground-floor commercial space.

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