In addition to targeting business travelers on temporary assignment in LA, the apartments are intended to lure affluent newcomers who want to hit the ground running while they look for permanent housing. The developer wants to test the market in LA. Stats from similar prestigious apartment buildings in the area have tenants in such units that tend to stay one to three moths, prefer hotel-like atmosphere, and willing to pay premium rent if the complex has high-design elements that give it an air of luxury. These units will have one to three bedrooms, floor-to-ceiling windows, a balcony, and laundry facilities. Communal areas will include an outdoor pool, private cabanas, hot tub, poolside bar, outdoor dining area on roof, with fireplaces and barbecues, with a steam and sauna areas with rain showers.
Rent will start at $5,000/month where expected tenants will be traveling athletes, entertainers and corporate workers. New life is coming to South Park and the renaissance of downtown LA.