A new mixed-use residential project is under construction taking shape and form at 501 Broadway in Santa Monica. The project proposal includes the development of a new eight-story edifice offering 89 apartments and commercial space on the ground floor. The project site previously housed a commercial building that was demolished.
Tishman Speyer is listed as the project developer. Milender White is the general contractor. KFA Architecture took over as the project’s architect of record from Michael W. Folonis Architects.
501 Broadway View via Michael W. Folonis Architects
Project site can be seen with construction activities to bring together a new eight-story mixed-use apartment complex. The scope of work includes bringing 89 apartments above ground-floor commercial space in an eight-story building. Additionally, a subterranean parking garage will also be built for 71 vehicles. Onsite amenities include a rooftop deck.
Plans call for 18 of the new apartments are to be set aside as deed-restricted affordable housing priced for renters earning between 30 and 100 percent of the area’s median income level.
501 Broadway via Michael W. Folonis Architects
The site was originally entitled by WS Communities and sold to Tishman Speyer as part of a portfolio of sites in 2022. The project site is located at the intersection of 5th Street and Broadway in Downtown Santa Monica. The estimated market availability is not known.
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