The proposed 256-foot skyscraper near the E Line would replace existing rentals with 119 luxury units and five affordable residences.
Renderings for a 23-story residential tower proposed near the E Line have been submitted to the Santa Monica Architectural Review Board, signaling a new look for the high-density project, as reported by Urbanize Los Angeles.
Hankey Capital is the developer behind the plans for 1518-1524 7th Street, where a contemporary glass-and-steel skyscraper would replace an existing 10-unit rental building. Designed by Ottinger Architects, the 256-foot-tall structure is slated to house 119 condominiums across one-, two-, and three-bedroom floor plans, along with five units designated as deed-restricted affordable housing. The proposal also includes 216 parking spaces split between above- and below-grade levels.
The staff report recommends approval and describes the building by saying, “The proposed project is a 23-story tower on a podium base. The curved building form and overlapping glass façades are meant to evoke sails on a sailboat.”
The project’s path to the review board has been unconventional. It was initially one of several “Builder’s Remedy” applications filed in 2023, a period when Santa Monica’s housing element failed to meet state standards, allowing developers to bypass local zoning limits. Following a legal settlement between the city and original applicant WS Communities, the site changed hands in 2024 when lenders, including Hankey Capital, took control of the portfolio.
This tower represents one of several former Builder’s Remedy sites that lenders are now actively pursuing as high-rise developments under the city’s formal approval process.
