New LA development will provide over 1000 jobs
Set to be completed in 2025, the Apollo development is located in the South Bay near SpaceX, the Tesla Design Center and Ring
Cityview and Stockbridge are partnering with WPIC Construction, AC Martin, Nadia Geller Designs and MJS Landscape Architecture on the project, which is expected to create more than 1000 jobs.
Cityview, a premier multifamily investment management and development firm, and Stockbridge, a private equity real estate investment management firm, have commenced construction on Apollo, a 265-unit multifamily development in Los Angeles’ South Bay.
“Los Angeles’ South Bay is quickly becoming one of the most desirable areas in Southern California, and we are looking forward to working with Stockbridge to deliver much-needed residential offerings that will help support the area’s rapid population growth and revitalization,” said Sean Burton, CEO of Cityview.
Located at 12888 Crenshaw Boulevard, Apollo is within five miles of more than 260,000 jobs, two blocks from the Metro Green Line and close to Los Angeles International Airport (LAX), SoFi Stadium, extensive dining and entertainment offerings and some of Southern California’s most popular beaches.
The development offers studio, one-bedroom and two-bedroom floorplans that feature stainless steel appliances, quartz countertops, luxury vinyl plank flooring, smart thermostats, keyless entry and smart home systems. Turnkey fiber optic internet and Wi-Fi will establish strong connectivity throughout the community.
Apollo boasts a resort-style pool and spa deck featuring loungers, daybeds and sweeping views of the South Bay. A state-of-the-art indoor fitness center will be connected to the outdoor strength and stretching area with large folding doors, while an indoor-outdoor community room will feature a custom commercial grade kitchen for community-hosted cooking classes and private as well as semi-private events.
Award-winning
Planned to achieve LEED Silver and FitWel certification, Apollo will be 20-30 percent more efficient than similar non-green buildings, which will reduce building operating expenses and utility costs for tenants. Sustainable features will include high efficiency windows and HVAC, Energy Star certified appliances, a solar thermal water system that relies on renewable energy, ultra-efficient low flow water fixtures and enhanced indoor air quality.
Construction financing for the project was provided by two long-term lenders of Cityview, City National Bank and Banc of California.