As the vibrant landscape of Pico Boulevard in Carthay and Mid-Wilshire continues to evolve with a growing collection of mixed-use developments, OlivePoint, a prominent Los Angeles-based real estate investment firm, has taken a significant step towards enriching the area’s urban fabric. With their sights set on constructing a state-of-the-art residential, retail complex at 5903-5925 W. Pico Boulevard, OlivePoint has enlisted the services of Crest Real Estate, a highly respected land use consulting firm, to navigate the complexities of the approval process and ensure the project’s success.
The Power of Collaboration:
In their pursuit of an ambitious eight-story building featuring 122 modern studios, one-and two-bedroom apartment, and ground-floor retail spaces, OlivePoint recognized the need for seasoned land use and urban planning expertise. This realization led them to partner with Crest Real Estate, a decision that has proven instrumental in making their vision a reality.
One of the significant hurdles for any real estate project in Los Angeles is adhering to the city’s zoning regulations and obtaining the necessary approvals. Crest Real Estate’s team of experienced land use consultants has worked diligently alongside OlivePoint to secure the required entitlements, including Transit Oriented Communities incentives. These incentives will allow OlivePoint to construct a larger building with more housing units than typically permitted while facilitating the allocation of 13 apartments for extremely low-income residents.
Affordable Housing Advocacy:
In a city where affordable housing is in high demand, Crest Real Estate has played a crucial role in shaping OlivePoint’s commitment to addressing this critical issue. By assisting in the planning and execution of affordable housing units within the development, Crest Real Estate has reinforced OlivePoint’s dedication to fostering a sense of community and inclusivity within the project.
Architectural Finesse and Amenities:
As OlivePoint entrusted DesignArc to craft the architectural blueprint for the development, Crest Real Estate ensured that the proposed structure adhered to the area’s urban design guidelines while maximizing the available space. Moreover, focusing on enhancing residents’ quality of life, including a rooftop amenity deck complete with a swimming pool, spa, lounge, and gym, was seamlessly integrated into the plans, thanks to Crest Real Estate’s strategic insights.
Looking Towards the Future:
With the project steadily gaining momentum, the collaborative efforts between OlivePoint and Crest Real Estate have proven to be a dynamic force in shaping the landscape of Pico Boulevard. The proposed mixed-use development promises to add contemporary living spaces and retail options to the community and exemplifies the transformative potential of effective land use consulting.
As Crest Real Estate continues to lend expertise to OlivePoint’s forward-thinking vision, the mixed-use development at 5903-5925 W. Pico Boulevard is a testament to the power of collaboration between real estate developers and experienced land-use consultants. Together, they create a vibrant, inclusive, and economically vital space that harmoniously blends modern living with a strong sense of community. This development is poised to leave an indelible mark on the heart of Los Angeles.
Jason Somers, President & Founder of Crest Real Estate
With over 15 years of professional experience in the Los Angeles luxury real estate market, Jason Somers has the background, judgement and track record to provide an unparalleled level of real estate services. His widespread knowledge helps clients identify and acquire income producing properties and value-ad development opportunities.