GlobeSt.com
By Kelsi Maree Borland
Playa Vista’s residential market is nearly built out. This weekend. Brookfield Residential and Hilton & Hyland opened Jewel Playa Vista, one of the last new construction residential projects in the market. Walking distance from the popular Campus Playa Vista, the community has 14 detached for-sale homes.
“These are really the right conditions to design and build new, high-end residences,” Alison Girard, Playa Vista director of marketing at Brookfield Residential, tells GlobeSt.com. “There is already a jobs/housing imbalance on the Westside of approximately three-to- one. The Jewel residences—priced from the high $3 millions—join homes at all price ranges in Playa Vista. And Hilton & Hyland is the ideal broker partner for high-design homes.
”The market is bursting with demand for housing mostly driven by the well-known employment hubs in Silicon Beach—from Google and Yahoo to IMAX and YouTube Space L.A. “The impending IPO of Snap, based in Venice in Santa Monica, joins the already surging creative office market within Playa Vista and beyond. At build out, which we are close too, The Campus at Playa Vista will house approximately 3 million square feet of prime, Class A creative space,” says Girard. “This creates an increasing demand for housing among the tech and creative set, not just software engineers and media creatives, but executives and other entrepreneurs.” As a result, this property opened to strong demand from homebuyers.
Read more at http://www.globest.com/sites/kelsimareeborland/2017/02/14/playa-vista-is-running-out-of-residential-stock/
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