Continuing the recent development along Wilshire Boulevard in the Mid-Wilshire area comes news that the family of Walter N. Marks who owns the site currently development with a Staples, plans to demolish the single-story retail store and construct a $400 million high rise apartment building on the site.
The development located at 5411 Wilshire Boulevard will contain 371 apartment units with 56 set aside for low income tenants.
The projected is planned to be completed in 2023 and be in an art deco style to complement the many properties on Wilshire constructed in a similar style of years gone by.
The property is planned to be a Class A apartment building with rents at the high end of the range and luxury amenities such as an outdoor deck on the 5th floor with trees, flowers and a perimeter walking trail overlooking the city. In addition there will be a dog exercise area, barbecues, two swimming pools , gym, two-lane bowling alley, a virtual reality gaming room, a golf simulator, dog-grooming space, demonstration kitchen, wine-tasting counter, billiard room and yoga studio. Lastly, the 42nd story will hold a private rooftop garden and lounge.
Cars will be parked via a self-parking robotic system storing the cars underground and if they are electric vehicles will charge the cars as well.