Playa Vista Phase 2 is Underway – Playa Vista New Construction
Playa Vista’s Downtown is Starting to take Life
Playa Vista has been under development for more than a decade. The 1,000-acre community already has more than 3,200 residences and 2 million square feet of offices. The land Brookfield is taking over is zoned for an additional 2,000 housing units.
Design by the architectural firm of Johnson Fain. With Developers Lincoln Property, Phoenix Property, and Paragon Commercial Group -the developers state that all 420 apartments, 35,000 square feet of office space, and 221,000 square feet of retail will be up and running in less than two years, with stores operating in time for the 2014 holiday shopping season.
CBRE Group Inc., the commercial real estate services firm is in charge of filling up the retail square footage, already landed some big tenants, including Whole Foods and a Cinemark multiplex, which will occupy 35,800 and 46,000 square feet. And with CVS, a national bank branch and an eatery having already claimed space, Runway’s retail segment is almost half-full.
“A lantern-shaped tower with a steel mesh exterior and dramatic lighting will house a central lanai lounge that anchors the retail center and serves as Runway’s central meeting place,” according to the developers.
The New Homebuilders are:
TriPointe Homes will be building 66 individual homes, 3-stories each, they will build in phases of 8 homes, aiming to open models by October/November, 2013. They will range in size between 1,800 and 2,600 square feet.
KB Home plans to build more than 100 residences
Brookfield Residential will be building a 6-Plex that will be 4 stories, 2 units on each floor, with the garages on the 1st level. These homes will range between 1,500 to 1,800 square feet. Brookfield also plant to build 22 Homes ranging in square feet 3,000+ to 4,000+ square feet
Apartments by The Irvine Company and Lincoln Property Company will be building residential rentals, starting with a 1,500 apartment building for a total of 2,600 apartment units in the next phase. The apartment units will include everything from studios to two-level, two-bedroom units with balconies. No word yet on rent prices.
The Village is intended to be the link between the Phase 1 residential community and the commercial campus that is home to Facebook, YouTube Space, California Pizza Kitchen Headquaters, USC and a division of Fox Sports, among other employers.
- There will also be plenty of room to roam, with 11.5 acres of parks and 12 acres of open space.
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