PMI has completed construction at 251 Rosemont Avenue, a bamboo-enclosed, bungalow-style apartment complex adjacent to Echo Park and downtown Los Angeles. With the growth of hip neighborhoods around Echo Park, PMI has expanded south of highway 101 to Rosemont Avenue, immediately south of Temple Street.
This newly renovated property consists of 9 separate buildings and 10 trendy units that have been modernized to maximize natural light and space efficiency. Each unit is a separate bungalow and boasts its own washer and dryer, large private patio, high ceilings, and a totally contemporary look. Some units even have exposed wood ceilings, similar to those found in creative offices.
The inability to develop high density apartments in Echo Park and Silver Lake has driven apartment developers towards Temple Street, one half block from Rosemont. More than five new large scale apartment projects have been – or are being – developed along Temple Street, with two bedroom rents starting at $2,700 per unit. Even more of these projects are still in planning. These new developments contribute to the rapid gentrification of Temple Street, just south of Echo Park and Silver Lake.