Ten percent of the project’s 285 subterranean parking spaces will be equipped with EV chargers.
Another 64 of the units will be rented at market rate 11 apartments will be rent-controlled.ĭesigned to incorporate publicly accessible open spaces, the project includes a new pedestrian mall in an area that is now the First Court alleyway and a public rooftop observation deck on top of the hotel tower with 360-degree views of the city.Īs part of the agreement with the City of Santa Monica, Worthe Real Estate Group is required to contribute more than $6 million to enhance local transportation infrastructure, parks and recreation projects, affordable housing and economic opportunity initiatives to support local entrepreneurs from disadvantaged communities. An adjacent apartment building will include 100 units, 25 of which will be affordable housing. Working with community and city leaders to allay concerns about density, building height and open space, the Ocean Avenue Project developers settled on building a “slender hotel tower oriented in an east-west direction” to maximize views from its 120 rooms. “Our team feels a strong responsibility to create a truly special place that residents can enjoy and be excited about,” Worthe Real Estate Group President Jeff Worthe said in a statement on the company’s website. The developer has been working to make the project a reality ever since. Worthe Real Estate Group is developing the space using the prime real estate corner property the Worthe family bought more than 40 years ago and adjacent properties it purchased in 2007. The project on the corner of Santa Monica Boulevard and Ocean Avenue across the street from Palisades Park sits on two acres with views of the Pacific Ocean and Santa Monica Pier. “This project has it all,” Santa Monica Mayor Sue Himmelrich said in a statement announcing the council’s decision to approve the project’s development agreement. Late last week, the Santa Monica City Council approved what is known as the Ocean Avenue Project - a mixed-use development that will include a hotel, apartments, restaurants, shops, museum and cultural campus - much of it clad in Gehry’s signature swooping style. A new development from world-renowned architect Frank Gehry is coming to Santa Monica.
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