The eight-story building at 501 Broadway features a rooftop deck and 18 deed-restricted affordable units.
Tishman Speyer has officially launched a leasing website at 501 Broadway, an eight-story mixed-use development that is the firm’s latest addition to the city’s downtown residential inventory, as reported by Urbanize Los Angeles.
The contemporary podium-style building, located directly across from The Park Santa Monica, features 89 apartments situated above ground-floor commercial space and a subterranean garage with 71 parking stalls. The project was originally designed by Michael W. Folonis Architects, with KFA Architecture serving as the architect of record.
Monthly rents for market-rate units at the property range from $3,255 to $6,641, according to the development’s official leasing site. The project also fulfills local housing requirements by including 18 deed-restricted affordable units. These apartments are tiered for residents earning between 30% and 100% of the area median income, with prices starting as low as $595 for a one-bedroom and reaching $2,707 at the higher income threshold.
Residents have access to a suite of modern amenities, most notably a landscaped rooftop deck.
