Los Angeles real estate titan Cypress Equity Investments isn’t slowing down its Santa Monica makeover. The firm, already pushing through two major mixed-use developments, has unveiled new plans to fill yet another vacant lot with modern apartments and retail space.
The target? Two side-by-side parcels at 1801 and 1819 W. Santa Monica Boulevard. Once part of a Honda dealership, these properties are poised for dramatic change. If approved, they’ll sprout two eight-story buildings, injecting 288 new studio, one-, two-, and three-bedroom apartments into Santa Monica’s housing mix. The proposed development will also feature 2,700 square feet of ground-floor commercial space, which could bring a trendy café or boutique to the location, as well, according to a report in Urbanize.
Designed by DLR Group, the project renderings showcase a contemporary style that fits Santa Monica’s vibe without overshadowing it. “The two adjacent projects share a similar form and massing while the subtle difference in tone and materials distinguishes one building from the other. Livability is enhanced with amenities such as upper-floor courtyards and rooftop decks, and the large scale of the buildings is broken down with large repetitive fenestrations, recessed spaces, and a few irregularly angled forms,” explains the city’s staff report. Residents can also anticipate airy courtyards, rooftop decks, and other features designed to elevate day-to-day life.
Crucially, Cypress Equity will include affordability in this project. Each building is slated to add 15 affordable housing units, totaling 30 across the entire development. This commitment makes the project more accessible and aligns with the city’s goal of creating a more inclusive Santa Monica.
The development has all the hallmarks of a Cypress Equity project – mixed-use, modern, and human-scale, according to the report. The company’s influence on Santa Monica is noticeable, and it is hoping make similar upgrades in other neighborhoods, as well. Similar developments by Cypress Equity dot Echo Park and Pico-Union in Los Angeles.
City staff have recommended approving the design, praising its aesthetic and contribution to the area.
With over three decades of real estate investment expertise, Cypress Equity has a proven track record of success, according to the company’s website. Since 2001, the company has transformed landscapes with ground-up developments and value-added projects across diverse asset classes. It is currently focused on multifamily housing – both Class “A” and affordable – along with life science and commercial development in high-growth markets across the U.S.
