Carmel Partners CEO Ron Zeff with rendering of Cumulus (Credit: Carmel Partners)
Developers secured $398 million in construction permits to build the five largest projects in the L.A. city limits last month. Sprawling multifamily projects in West Adams, Downtown Los Angeles and the San Fernando Valley largely dominated the top five.
Here are the biggest construction permits, ranked by dollar value, issued in May by the L.A. Department of Building and Safety. Only commercial and multifamily projects within city limits were considered. Permit valuation is based on the minimum construction requirements set by the Department of Building and does not reflect the total cost of the project.
1. Cumulus – $157.39 million
Developer Carmel Partners secured a permit, valued at about $157 million, to build 339,000 square feet at Cumulus, a 1,210-unit mega complex in West Adams. The firm released new renderings for the project in March, revealing designs by Solomon Cordwell Buenz and TCA Architects. The two million-square-foot mixed-use complex will include a seven-story apartment building with 300 units, as well as a 910-unit residential tower. The multifamily developer acquired the 11-acre site at 3311 S. La Cienega Boulevard for $111 million in 2016, property records show.
2. Perla – $141.75 million
SCG America, the U.S. arm of Shanghai Construction Group, was approved for a $141.75 million permit to start construction on its $300 million project in Broadway Theater District, dubbed Perla. The 35-story condo and retail complex at 400 S. Broadway will include 450 residential units, three outdoor decks and street-level retail. The permit allows the Chinese-based developer to build 426,000 square feet. The company, led by Winfred Zhang, held a groundbreaking for the CallisonRTKL-designed project in September. It’s slated to include units as small as 400 square feet, asking $350,000 each.
3. NoHo West – $41.83 million
A joint venture between Merlone Geier and GPI Companies secured a permit to build a four-story commercial building with retail on the ground floor at the sprawling under-construction complex, named NoHo West. The 685,000-square-foot permit is valued at just over $41 million.
Overall, the mega development will bring 642 apartments, between 50 and 60 dining and shopping options, a grocery store, gym, and movie theater to the former Laurel Plaza shopping center at 6180 N. Laurel Canyon Boulevard.
4. Q East – $37.4 million
Over in the Warner Center, California Home Builders gained approval to build 307,200 square feet at 6200 N. Variel Avenue. The permit, valued at $37.4 million, allows for construction of the seven-story residential tower at the complex. Q East will include 241 apartments, a parking garage and retail options on the ground floor. Newman Garrison + Partners is designing the building, which is scheduled for completion in 2019.
5. 11050 Arminta St. – $19.7 million
An individual named Kurken Alyanakian secured a permit to build an apartment complex at 11050 W. Arminta Street in Sun Valley. Valued at $19.7 million, the permit allows for a 126,600-square-foot property with 110 units and parking garage. Iriu & Associates is designing the multifamily complex.
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