California Landmark Group’s new $30 million C1 multifamily development in the Marina Arts District is the first large complex in Los Angeles to contain co-living units.
The project includes 51 luxury market-rate studio, one- and two-bedroom apartments, as well as 17 fully furnished co-living units with floorplans ranging from three to six bedrooms, all designed for communal living.
“While the co-living units are larger and fully furnished, which makes them more expensive to develop, the cost per bedroom drops and we can provide individuals more affordable housing options than traditional rental units,” Kahan said in a prepared statement.
“Its application to housing, particularly in Los Angeles, where rent-burdened tenants can pay as much as 50 percent of their income, was inevitable and we’re proud to be at the forefront.”
