CBG Building Company Breaks Ground on Mixed-Use Community in Los Angeles
LOS ANGELES—CBG Building Company broke ground today on Wilshire Hobart, a 346-unit luxury apartment community featuring nearly 8,000 square feet of ground floor retail and podium parking in Los Angeles' Koreatown neighborhood. Wilshire Hobart is CBG's first project with Owner CityView.
The Pearl on Wilshire
"Urban infill projects such as Wilshire Hobart create complex construction sites in the heart of densely populated communities where materials handling, scheduling, and overall site management can be very difficult," said Sean Burton, CEO of CityView. "CBG has extensive experience working on projects like this, which is why we selected this company to lead the construction process. We are pleased to have CBG on board, and we look forward to delivering this project in the first quarter of 2018."
Located within walking distance of two major metro stations along Wilshire Boulevard, Wilshire Hobart will support a transit-oriented lifestyle of studio, one-, and two-bedroom apartments - including penthouses - within a seven-story, wood-framed community.
All units will feature high-end finishes like quartz countertops and stainless steel appliances. Community amenities will include three private courtyards that serve residents with a dog park, pool, outdoor grills, yoga room, and fitness center.
"We are excited to partner with CityView on Wilshire Hobart," said Michael Holk, senior vice president at CBG. "This community will be a strong addition to Koreatown's high density neighborhood, and we are proud to be a part of the team."
Complying with Title 24 and the California Green Building Standards Code, Wilshire Hobart will feature a stormwater drainage system that filters through landscaping planters, EnergyStar appliances, gas-fired, tankless water heaters, low-e windows, and 14 SEER HVAC systems.
In addition to Wilshire Hobart, CBG's recent California portfolio includes Radius Apartments, a 264-unit, LEED certified luxury apartment community in Redwood City; Ord Military Community, a 1,579-unit military housing community that features a 25,000-square-foot recreation center in Monterey; and The Pierce, a 232-unit, mixed-use LEED Silver community in San Jose scheduled for completion in fall 2016.
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About CBG Building Company
Through a relentless pursuit of innovation, a steadfast commitment to quality, and active collaboration with clients, CBG has been delivering award-winning communities from coast to coast for more than 25 years. CBG's professional construction team builds more than 4,000 homes each year, providing high-quality, responsive service backed by a significant bonding capacity and national resources. CBG's experience spans a diverse portfolio of geographic areas and product types, including luxury, mixed-use, and affordable housing apartments, as well as campus housing, military family communities, and senior living facilities. Together, we draw on the knowledge gained through building more than 80,000 housing units since 1992. For more information, visit www.cbgbuildingcompany.com.
CityView is a premier investment management and development firm which targets complex multifamily housing opportunities in densely populated urban markets primarily in the Western United States. The firm prides itself on its ability to be a part of revitalizing neighborhoods within metropolitan areas while at the same time striving to generate meaningful returns for its institutional investors. For more information, please visit www.cityview.com.