The Dumont Project’s Office Source
PMI is proud to announce that the Dumont Project, an advertising and marketing firm, recently amended their lease to take over suites A130 and A100 at our commercial property located at 4223 Glencoe Ave. in Marina Del Rey. The firm now occupies 5,810 sq ft of office space, the largest allocation of space for one tenant in the building.
The Dumont Project is a consultancy that specializes in growing brands by providing services in analytics, creative development, digital marketing, and media management. They work with a wide range of clients, including Vineyard Vines and M&M.
With the expansion of gentrified areas south of Silverlake and Echo Park, Creative Multifamily has remodeled and leased up an apartment building at 306 Bonnie Brae street, one block south of Temple Street. This new property is located within walking distance of Echo Park Lake and shops and restaurants along Sunset Boulevard.
306 Bonnie Brae consists of 9 2-bedroom, 1-bathroom units that have been completely refinished and equipped with modern amenities, brand-new stainless appliances, and in-unit washer and dryer. Each unit has an efficiently designed layout, hardwood floors throughout, and lots of natural light. The property is privately enclosed with bamboo and a beautiful new redwood fence.
Many other developers have also moved South; there are five new large scale apartment projects being developed along Temple Street, with two bedroom rents starting at $2,700 per unit.
Creative Multifamily’s recently renovated an apartment building at 5515-5525 Media Drive in Highland Park, northeast of downtown LA. Highland Park is burgeoning as young, urban creatives flock to the area for its proximity to Downtown, Pasadena, Glendale, and Burbank. This property, surrounded by historical craftsman homes, is situated perfectly for what the neighborhood has to offer. It is close to the Goldline light rail station, retail on Figueroa Street, hip bars, and restaurants that are all revitalizing Highland Park. Recently named one of LA’s hottest up-and-coming markets by Redfin and LA’s greatest neighborhood by LA Weekly, Highland Park now offers the same unique qualities and amenities that have made Silver Lake and Echo Park go-to locations for the hip and creative classes.
The property consists of 2 adjacent buildings composed of 16 units. Each unit is completely remodeled and has its own washer, dryer, and new stainless steel appliances. Some units have unique polished concrete floors and large private patios, almost as large as the units themselves. We also converted some one bedroom units to micro two bedrooms of just over 600 square feet. The layout for each unit was redesigned to maximize living space, emphasize natural light, and accentuate architectural elements. These apartments, with their spacious layouts and modern finishing, are perfect for the young creatives that inhabit Highland Park.
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.
Exposed Wood Ceilings
At our recently completed 306 Bonnie Brae apartment complex in Echo Park, PMI converted 600 square foot one bedroom units into very efficient and hip two bedroom units. PMI reconfigured the units to provide a great room with kitchen and two smaller bedrooms.
One way we know if a neighborhood is gentrifying is the establishment of retail catering to higher income young residents. The Temple Street area, south of the 101 Freeway and adjacent to Silver Lake and Echo Park, is showing signs of gentrification as many new luxury apartment properties are being built in this area.
Now a new juice bar named Drink Houz opened on the ground floor of the recently completed HoM apartment complex at Robinson and Temple. This specialty juicery offers up cold-pressed probiotic juices, coffee, kombucha on tap, and healthy meal options. The juice bar also plans to offer a delivery service and online ordering to further accommodate busy professionals and tenants. This establishment contrasts with many of the surrounding businesses that mostly cater to the community’s middle to lower income and primarily Hispanic population.