In a move to increase housing in Southern California, Goldrich Kest will start building a 129-unit apartment building near the LA River. The Crescent will feature studios, 1-3 bedroom apartments, inclusive of 17 affordable units and a 145-car underground parking garage.
Goldrich Kest, one of Southern California’s largest privately owned real estate investment, development and asset management companies is set to break ground later this year on a 129-unit apartment building that will be situated alongside the Los Angeles River in Studio City, announced the company’s Managing Director of Investments, Richard Hawthorne. The five-story, multi-family building called The Crescent will feature studios, 1-3 bedroom apartments, inclusive of 17 affordable units and a 145-car underground parking garage. Among the amenities will be a pool overlooking the LA River and future multi-use river path, outdoor kitchen, club room, fitness center, theater, open-air roof decks, pet spa & dog run, parcel lockers and a co-working.
Hawthorne says that The Crescent’s close proximity to the LA River just north of Ventura Boulevard will offer tenants easy public access to myriad recreational amenities once the multi-use pathway is completed.
“We’re delighted to announce the development of The Crescent, which will bring much needed housing to the region,” says Hawthorne, who went on to say that The Crescent will be the first ground-up development for Goldrich and Kest in more than 15 years. “We greatly appreciate the support of the LA City Planning Commission to move this project along and look forward to its completion in 2025.”
The building is being designed by Lahmon Architects and will feature a modern look intended to integrate seamlessly into the nearby environs.
"The tiered balconies and roof decks to the north allow residents to take advantage of the great Southern California weather and ample outdoor space,” said Mark Lahmon of Lahmon Architects. “We are excited to work alongside one of LA’s most renowned and legendary real estate companies to see this project through to completion and be part of the solution to LA’s housing shortage crisis.”
Goldrich Kest is a privately owned, family-run business that can trace its origins back more than 65 years to two entrepreneurs, Jona Goldrich and Sol Kest, holocaust survivors who parlayed their meager savings into an empire. Today, the second generation of the Goldrich and Kest families continue to build upon the company’s ever-expanding portfolio of residential, commercial, industrial, and retail properties. Among them are 124 apartment buildings with 14,000 units, 5 marinas, 22 senior living facilities with 4,168 beds, and, scattered throughout the US, more than 7 million square feet of commercial, industrial, and retail space. Over half of its apartment buildings accommodate low-income families. For more information about the company, visit goldrichkest.com
