Century West Partners to Break Ground on $280M Multifamily Development in Metro Los Angeles
June 10, 2016
Author: Katie Sloan, RE Business Online
GLENDALE, CALIF. — Century West Partners will break ground today on Next on Lex, a $280 million, mixed-use multifamily development located in the Los Angeles suburb of Glendale.
The transit-oriented development, located at 201 Lexington Drive, will occupy a full block and will feature four, six-story buildings that include a mix of one-, two- and three-bedroom units and studio lofts. The property will also offer 10 live-work units, as well as three levels of underground parking with space for 753 cars and 152 bicycles.
Next on Lex will include 8,140 square feet of retail space, which will be occupied by a Citibank branch alongside other tenants.
Amenities at Next on Lex will include outdoor living areas; pools and hot tubs; landscaped courtyards including a rooftop deck and sky lounge; multiple sun decks; and a variety of community spaces. The property will also feature an onsite business center; yoga studio and fitness center; a media room; game room; private massage room; and party room and kitchen.
Demolition on the existing office building on-site took place in April, according to reports by the Los Angeles Times.
Santa Monica, Calif.-based Killefer Flammang Architects (KFA) designed the project. Chicago-based W.E. O’Neil Construction is the contractor. “Next On Lex is a stellar example of a transit-oriented development of the highest quality that looks to the future,” says Wade Killefer, co-founder and partner of KFA. “We are very pleased to have created this model for mixed-use multifamily projects with more upscale, luxury finishes.”
The development is slated for a partial opening with units available in the fall of 2018. Full completion is expected for fall 2019. Century West Partners is currently developing $1.3 billion worth of new projects.