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<\/a>The project will include condos designed for first-time homebuyers and millennials, with an average unit size of 700 square feet and prices starting in the $400,000s. Presales are slated to begin in spring 2018.<\/p><\/div>\n
When complete in 2020, the new development will emerge as a towering testament to old and new Los Angeles, marking the first residential high rise built in the downtown historic core in over a century. The community will be in the heart of The Broadway Theatre District \u2013 a National Historic District and once the city\u2019s main commercial and theatrical hub \u2013 which features the largest concentration of historic theaters on one street in the nation, most dating back to the 1920s and 1930s.<\/p>\n
According to Winfred Zhang, president and CEO of SCGA, Perla is crucial to the area\u2019s economic vitality and a critical component of \u201cBringing Back Broadway\u201d \u2013 a recently completed 10-year initiative and a catalyst for the current revitalization of the area, spearheaded by Councilmember Jos\u00e9\u00a0Huizar.<\/p>\n
“The Historic Broadway District has been a linchpin in our Downtown revitalization efforts over the years. Through my Bringing Back Broadway initiative, we have made great progress by restoring and preserving dozens of historic buildings, including historic theaters.\u00a0I am excited to see continued investment on Broadway, and Perla is a major addition. This project will bring much needed new residential units to the area, and add to the vibrant street and retail activity of this historic corridor. Broadway is a great place to work, visit and live,” said Councilmember Huizar.<\/p>\n
Architectural and interior design plans were masterminded by architectural giant CallisonRTKL and global interior design firm Hirsch Bedner Associates (HBA) and call for a distinctly modern structure that pays homage to the area\u2019s artistic roots.<\/p>\n
Conveying a subtle juxtaposition between old and new, textural metal screens \u2013 inspired by the ornate wrought iron grilles and vintage railings of adjacent historic buildings \u2013 are repeated throughout the exterior and interiors; while materials, technologies and finishes are completely modern in nature.<\/p>\n
Additional highlights will include a uniquely lavish lobby with intricate art deco details, a towering inner atrium that spans four stories and is naturally lit through the skylight, and beautifully appointed residences with contemporary conveniences. The property will also feature 48,000 square feet of outdoor space spanning the roofs of the lower podium and tower, including a pool deck with sweeping views of the city, decks and kitchens, cabana lounges and seating areas, fire pits and grilling areas and a dog walk complete with an owner\u2019s lounge and grooming station. Additional hotel-like amenities include a jewel box-designed fitness center, media room, WeWork office spaces, outdoor game room\/conference area and a multi-level amenity space \u2013 housed in the expansive atrium \u2013 which serves a social focal point. Swinerton Builders will spearhead the project as general contractor.<\/p>\n