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Today, the groundbreaking for the long-awaited 10000 Santa Monica Boulevard residential building was conducted, acting as a huge stepping stone for these future luxury rental homes and as well as the local job market. Located on the border of Beverly Hills and Century City, the development site is set to be the only high-rise and high-end rental project in west Los Angeles. With its completion will also come incredible views of all the diverse spectrums of the city, including the Pacific Ocean and the Hollywood Hills. In honor of the imminent kick-off of the construction project, City Councilman Paul Koretz, who represents Council District 5, was present and able to elaborate on the project. “Developing in the 5th district […] is not usually [easy],” Koretz said. “But [this team] made this project work as a textbook example of how it should be done.”
In December of last year, 10000 Santa Monica Boulevard was issued its excavation permit after a long three-year delay. While the 2.4 acre lot has been awaiting re-development since 2006, Miami-based developer Crescent Heights purchased the property in 2010. Only minor work, such as netting and signage around the development site, has been completed within the last couple years. Logistically, the design for 10000 Santa Monica is comprised of 282 units, 470,000 square feet, and 39 stories. What started out as an ambitious idea for a 45-story condo tower will now be moving forward as a 483-foot complex of luxury rental homes. Neighborhood groups and local government alike have unanimously supported this endeavor by the Crescent Heights company.
The residential tower will soon provide Century City with a dominant and beneficial new addition to its skyline, as it will stand as an attention-grabbing, dynamic structure as opposed to its neighboring buildings. The building will also boast an exterior glass skin from ceiling to floor. But aesthetics aside, the development of 10000 Santa Monica will serve its surrounding towns by creating more union jobs and providing a means of employment for its community members. “This project will serve as an enhancement to Century City,” Herb Kolben said. Kolben is the senior vice president of the real estate department at the Union Labor Life Insurance Company (Ullico), which is a national real estate lender that works on 100% union construction jobs. “This is a fine example of some of the work that we do. It will create over 2,000 jobs for workers who will be paying taxes on those very salaries, so it’s good for the community as a whole.”
For many of the other dignitaries present, the growth of the local job market was also the focal point and primary benefit of the development of 10000 Santa Monica. Ron Miller, executive secretary of the Los Angeles/Orange County Building and Constructions Trades Council, also commented on the local job market expansion that will occur as a result of this project. “This will put hundreds of men and women back to work in the Los Angeles area so that they can support their families,” Miller said. “This is a crucial area of the city.” Miller estimated that it would take about “two to three years” for 10000 Santa Monica to see its full completion. 10000 Santa Monica Boulevard is located near Westfield Century City and Beverly Hills High School. For more information, visit 10000smblvd.com.
