One month after receiving approval from the Los Angeles City Planning Commission, Goldrich Kest is poised to bring a transformative housing project to the vibrant neighborhood of Studio City. This development, known as The Crescent, aims to deliver urban living in Los Angeles while addressing the city’s pressing housing needs.
Goldrich Kest, a Culver City-based developer with a strong reputation for innovative projects, made headlines in August when it unveiled its plans for the property located at 4260 N. Arch Drive. This six-story residential building will feature 129 apartments, ranging from studios to three-bedroom units, all designed to meet the diverse needs of the community, according to a recent report in Urbanize LA.
The project includes a two-level, 145-car underground parking garage and boasts a range of amenities, such as a pool, spa, outdoor kitchen, club room, roof decks, media room, and a business center, designed to create a thriving community atmosphere for future residents.
The project will also utilize density bonus incentives, which allow for a larger development than what zoning rules would typically permit. In exchange for these incentives, Goldrich Kest has committed to designating 17 apartments as deed-restricted affordable housing units at the very low-income level.
Richard Hawthorne, managing director of investments at Goldrich Kest, expressed his enthusiasm for the project in the report, stating: “We’re delighted to announce the development of The Crescent, which will bring much-needed housing to the region. We greatly appreciate the support of the L.A. City Planning Commission to move this project along and look forward to its completion in 2025.”
The architectural design of The Crescent is the brainchild of Lahmon Architects. The development will not only offer a modern living experience but also contribute to the revitalization of the Los Angeles River area. Renderings depict a contemporary building with a publicly accessible entrance leading to a future segment of the Los Angeles River bike path. Mark Lahmon of Lahmon Architects highlighted the project’s design, stating, “The tiered balconies and roof decks to the north allow residents to take advantage of the great Southern California weather and ample outdoor space.”
The Crescent represents a milestone for Goldrich Kest, marking its first ground-up project in 15 years. While the developer is renowned for its projects in Marina del Rey, this project signals its intention to expand its portfolio and continue contributing to the growth and vibrancy of the Los Angeles housing market.
Looking ahead, Goldrich Kest has even more ambitious plans in the pipeline. The company plans new housing next to the historic Hotel Green in Pasadena.
