LA: Condos Finally Coming Off the Shelf
By now, you've probably noticed that many of those condo projects that got shelved during the housing meltdown are being dusted off. Latest case in point: Trumark Urban's plans to jumpstart a condo development in Downtown LA. The company, an offshoot of San Francisco-based Trumark, bought a fully entitled (in '07, then it stalled) site in South Park to build a $100M, 151-unit development. Trumark Urban plans to break ground in January after spending the rest of the year freshening up the design, amenities and unit mix. The 24-story project will boast a sky-pool lounge area, pet-washing stations (separate from the pool, which is good news), and a movie theater. The company is under contract to buy a second Downtown LA condo site with construction anticipated in Q3.
