WestEnd, a new 119-unit for-sale residential development with a coveted Marina Del Rey, Calif., address, debuted with an overwhelming amount of success by selling over 40 residences in under 40 days. Priced from the low $300,000s, WestEnd serves as evidence that projects offering outstanding value, location and design are successfully attracting buyers despite a challenged economy.
CityView, a Los Angeles-based national urban development investor headed by former HUD Secretary Henry G. Cisneros, originally invested in WestEnd in 2007 and subsequently engaged The Kor Group, a developer known for pioneering projects with provocative design and sought-after amenities, to complete construction, upgrade unit amenities and create social spaces with a Kor coastal influence. Kor also manages WestEnd's sales and marketing program, with staffing and execution provided by The Mark Company.
"WestEnd represents the second collaboration between The Kor Group, The Mark Company and CityView, who partnered to develop Barker Block, one of the best-selling live-work projects in downtown Los Angeles to date," says Cisneros. "After sharing success at Barker Block, CityView and Kor decided to partner again in an effort to repeat our success in providing quality housing communities in much-needed areas of Los Angeles."
"The successful launch demonstrates the continued demand for well designed, urban projects positioned in highly desirable locations with a strong value proposition. The project was extremely attractive for a number of reasons and WestEnd remains one of the best values on the Westside for new construction in close proximity to the beach," says Devang Shah, CityView's senior director of asset management and market research.
Brad Korzen, CEO of The Kor Group, adds, "We are excited to welcome WestEnd to our impressive collection of award-winning urban projects like Broadway Hollywood, Eastern Columbia and Barker Block. We are committed to expanding our urban development business, and WestEnd is a prime example of the kind of partnerships and projects that benefit from Kor's capabilities."
WestEnd offers a unique collection of townhomes, residences and penthouse lofts with contemporary architecture and appointments. Amenities include a Mark Tessier-designed courtyard, social green space, pool deck and up-to-the-moment fitness center. Residences range from 700 square feet to more than 2,200 square feet, and features include ceilings soaring up to 17 feet in height; indoor and outdoor fireplaces; private patios; viewing terraces and wraparound decks; exposed wood columns; Italian kitchens with Cesar stone countertops; hardwood floors; designer lighting; high-end hardware; and covered underground parking.
About The Kor Group
A leading innovator in the real estate and travel communities,
The Kor Group sets itself apart with a curatorial approach to lifestyle experiences and passion for visionary design. For over a decade, the company's diverse offerings have magnetized the world's cognoscenti, from California to the Caribbean and Mexico to the Middle East.
Like Kor's Viceroy Resorts, Hotels & Residences brand and The Tides collection of hotels and resorts, Kor's residential properties bring together noteworthy destinations, provocative design and sought-after amenities. From the authentic Barker Block and Molino Street Lofts in L.A.'s Arts District to the historic Eastern Columbia and Broadway Hollywood developments and Sunset Silver Lake at the Sunset Junction, this new breed of homes reflects and characterizes the city's vibrant neighborhoods.
About CityView
CityView is one of the nation's premier institutional investment firms focused on urban real estate, in-city housing and metropolitan infrastructure. Founded in 2000 by Henry Cisneros, HUD Secretary during President Clinton's Administration, CityView has generated more than $2 billion in urban investment in 45 communities across the United States.
