Located at the epicenter of downtown Los Angeles' cultural core, luxury apartment building The Emerson, from Related California, has announced that leasing is at 98% within one year of opening. Related California, the West Coast affiliate of the nation's largest privately owned development firm, Related Companies, has completed more than 9,800 residences across California. "The fact that we're 98% leased only a year after opening is a testament to our commitment to providing what people look for in a home," said Gino Canori, Executive Vice President of Development for Related California Residential.
"A diverse set of residents from LA and around the world have been powerfully attracted to this elegant, one-of-a-kind property and the leasing velocity at The Emerson showcases the residential appeal of downtown Los Angeles." In a condensed city like LA, The Emerson provides an oasis to its residents. Residents have the ability to work out in The Emerson's onsite Fitness Center with yoga studios and steam rooms, relax by the pool or in the penthouse lounge, take their dog to the onsite pet spa and dog run or enjoy a delectable meal prepared by Vespaio, either downstairs at the restaurant's new location in the building or in the comfort of their own home. The Emerson Personal Assistant can assist with any request to make day-today activities easier including making dinner reservations, obtaining tickets to a sporting event and facilitating a dog wash at The Emerson's pet spa, as well as handling personal appointment bookings and travel arrangements. "People seek us out because they know and love the Related way of life. Our wide range of amenities show how much we truly care about quality of life and want our residents to enjoy their home to the fullest extent," said Canori.
As part of a quickly developing, prestigious corridor that includes the Walt Disney Concert Hall, Museum of Contemporary Art, The Broad Museum and more, The Emerson is surrounded by cultural institutions. Whether going to work, play, eat or just experiencing all that DTLA has to offer, The Emerson provides a convenient location with a multitude of amenities and services. The Emerson has set a precedent for elegant and sophisticated living in downtown Los Angeles, with architecture by Arquitectonica and interiors by Marmol Radziner. The 20-story building, atop downtown L.A.'s Bunker Hill, boasts unsurpassed amenities and services including a residence only penthouse lounge and terrace, outdoor pool and 24-hour attended lobby with concierge. This past June, The Emerson welcomed Vespaio, a dining destination by renowned restaurateur Agostino Sciandri into its ground floor.
Offering in-room dining to residents, the all-day eatery lets The Emerson residents enjoy the Italian cuisine in the privacy of their home. Situated next to The Emerson is The Broad museum, DTLA's highly anticipated, new contemporary art institution that recently opened. Also new to the corridor is Otium, a restaurant with an eclectic menu by Chef Timothy Hollingsworth opening this month. "Downtown Los Angeles has quickly become a cultural hotspot with acclaimed museums, music centers and restaurants," said Canori. "The Emerson is located right in the middle of it all, allowing residents to enjoy everything the neighborhood has to offer." About Related California Related California, the West Coast affiliate of Related Companies, is a fully integrated real estate firm that develops multifamily residential and mixed-use properties in California.
Since 1989, Related California has undertaken a range of transformational developments from best-in-class luxury high-rise residential properties to the redevelopment of obsolete public housing, spanning a broad spectrum of urban infill, affordable, mixed-income and market rate multifamily developments. The company has completed more than 9,800 residences and has a track record of consistently developing communities that represent industry benchmarks in design, construction, sustainability and property management. Related California has a long history of community partnership, having collaborated with more than 20 municipalities and more than 25 non-profit organizations throughout California. Related California has successfully developed and managed a broad range of property types throughout Alameda, Contra Costa, Los Angeles, Orange, Sacramento, San Bernardino, San Diego, San Francisco and Santa Clara counties.
Related California has developed more than $2.9 billion in assets. For more information about Related California, visit www.relatedcalifornia.com. About Related Companies Related Companies is the most prominent privately owned real estate firm in the United States. Formed over 40 years ago, Related is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi, London and Shanghai and boasts a team of approximately 3,000 professionals.
The Company's existing portfolio of real estate assets, valued at over $20 billion, is made up of best-in-class mixed-use, residential, retail, office and affordable properties in premier high-barrier-to-entry markets. Related has developed preeminent mixed-use projects such as Time Warner Center in New York and CityPlace in West Palm Beach and is currently developing the 28-acre Hudson Yards project on Manhattan's West Side. Related also manages approximately $3 billion of equity capital on behalf of sovereign wealth funds, public pension plans, multi-managers, endowments, and family offices. Related is staunchly committed to sustainable design with over $15 billion in green development completed or underway. Related also owns Equinox® Fitness Clubs, further expanding the company's capabilities into the health and fitness arena and enhancing the value of its properties through an exclusive, branded amenity and lifestyle offering. Related is a partner in Union Square Events, the catering, culture, sports, and events business of Danny Meyer's Union Square Hospitality Group and CORE, a boutique residential brokerage.
For more information about Related Companies please visit www.related.com. About Related Rentals Related has dramatically redefined the concept of metropolitan luxury by introducing extraordinary residential rental properties in Boston, Chicago, Los Angeles, San Francisco and New York City. With each new building, Related has been hailed for setting new standards of excellence in the luxury rental marketplace. To ensure that every resident in every Related building enjoys the very finest services, unsurpassed amenities, and a luxury lifestyle without compromise, Related Companies takes great pride in managing every building it owns. Related owns and manages Abington House, The Caledonia, The Emerson, The Lyric, MiMA, One Carnegie Hill, One Union Square South, Riverwalk Crossing, Riverwalk Point, The Sierra, The Strathmore, The Tate, Tribeca Green, Tribeca Park, Tribeca Tower, The Westminster and The Westport in New York City (and manages 1214 Fifth Avenue and 89 Murray also in New York City), One Back Bay and The Arlington in Boston, 500 Lake Shore Drive in Chicago and The Paramount in San Francisco. Related also owns an extensive portfolio of workforce and affordable housing and has several new rental developments underway across the country. ooo