OverviewPressLinks Back to Press page RESIDENTIAL RACE FOR SPACE Publish Date: 04/01/2005 2005 Western Real Estate Business Journal COVER STORY, APRIL 2005 RESIDENTIAL RACE FOR SPACE Housing demand, urban development and mixed-use momentum have created a lively multifamily market. Haley Shuler and Brian A. Lee High-growth markets, coupled with intense competition for land, have led to high-rise development and conversion trends in many of the West’s multifamily sectors. Santee Court Santee Court, a $163 million adaptive reuse project involving nine historic industrial buildings, is leading downtown Los Angeles’ rebirth as a 24-hour live-work market. Started in 2003 by Los Angeles-based developer MJW Investments, the three-phased development will ultimately feature 445 industrial-style loft/condominiums, 100,000 square feet of retail space, various rooftop amenities and a 400-foot long courtyard/retail promenade. The first phase, completed in May 2004, consists of 165 apartments, the second phase 64 condos and the third phase 216 condos. The second and third phases are due to be completed in December 2005 and December 2006, respectively. Donald Alec Barany Architects (residential), Lehrer Architects (exterior) and Mia Lehrer & Associates (landscape) handled the design work for Santee Court. “Santee Court is a catalytic development project that turned a blighted area into a residential community that improves the quality of life by providing mixed-income, affordable, work-force, and market-rate housing,” says Mark Weinstein, president and founder of MJW Investments. “The growing shortage of housing in Los Angeles has prompted the need to develop mixed-use projects. By providing space for a Rite-Aid drugstore, Subway eatery, drop-off drycleaners and other retail tenants, Santee Court is able to provide the much needed services for the businesses and residents in the area.”