US: Two coliving apartment buildings in the Del Rey neighbourhood of Los Angeles are nearing completion, nearly two and a half years after breaking ground.
Located at 4339 and 4367 Berryman Avenue, the four-storey developments are a joint project by Six Peak Capital and Grandview Partners and will offer a total of 49 shared apartments designed to accommodate up to 282 residents.
The apartments, which range in size from 1,297 to 2,204 square feet, will be rented by the room and include in-unit furnishings, stainless-steel appliances, washer-dryers, and wood flooring. Tenants will also have access to rooftop decks and shared community spaces.
The buildings are designed by two Los Angeles-based architecture firms: The Albert Group Architects for 4339 Berryman and Patrick Tighe Architecture for 4367. Both structures should feature contemporary facades clad in stucco and metal panels.
The $40 million (£31 million) project, financed with support arranged by Way Capital, was first announced in 2022.
Way Capital founder and CEO Malcolm Davies said: “The suite living projects are a modern solution to the ongoing housing shortage and availability crisis. This project provides a beautiful living environment in Mar Vista, a neighbourhood desirable for Millennials and Gen Z.”
The development comes amid growing demand for coliving spaces in Los Angeles, where rising rents and a shortage of affordable housing continue to push interest in shared accommodation models. Six Peak Capital recently secured entitlements for another multifamily development on Sunset Boulevard in Silver Lake.
