DOWNTOWN: We stopped by that Evo event yesterday afternoon to find a very packed sales office and lots of tours going on. According to the team, 300 people stopped by the three-day sale, which saw reductions on 35 of the building's units. But how'd they do? The goal was to "reserve all 35," Michelle Velky, regional sales manager, told us on Friday. Now the sales team is saying that no, 35 units didn't "sell," nor did they expect to sell all 35. Reserve, sell, fizzsfdhash. Writes Evo marketing director Rhonda Slavik in an email: " It's a little difficult to determine how many sales were a direct result of the "72hr" campaign. We started advertising three weeks ago and had strong traffic then. My belief is that this sale helped people get off the dime and make a commitment." Plus, Evo put out a press release today stating they've closed escrow on 20 homes since opening in November. That would mean the development has closed escrow on roughly 5 units since late January.We're going to call that as "pretty good" considering what's going on with the economy. [Curbed Staff]
PALMS: Via the Inbox, news of a walking tour this weekend. "Guided by Resident Storyteller George Garrigues, Palms is the oldest suburb of Los Angeles, founded in 1886 halfway between L.A. and the beach on a steam railroad line. By 1925 it was advertised as an “ideal city of home dwellers restricted for the white race.” Culver City was founded in 1915 by Harry Culver and for a time had no churches because Palms had so many of them." More about Saturday's walking tour via the official web site. [Curbed Inbox]
Evo High-Rise Reports 24 Year-to-Date Sales,
Continues Furious Pace as Los Angeles’ Leading Residence
Stylishly modern and sustainably superior, Evo is L.A.’s only new all-green high-rise condo
LOS ANGELES, California – Representing perhaps the most significant recent surge in residential sales in Southern California, developer The South Group reports today that its Evo high-rise has sold 24 homes since January 1, 2009. Evo – the much-anticipated third phase of South, L.A.’s first and only LEED certified “green” community – has closed escrow on 20 homes since opening in November 2008.
In February alone, Evo sold 18 homes. The building is now 35% sold-out with over $78 million in total sales.
“In the face of current economic conditions, our ongoing success is very encouraging, and it points to the uniqueness and quality found exclusively at Evo,” said Rhonda Slavik, Sales and Marketing Director for The South Group. “From spacious studios to opulent multi-million-dollar penthouses overlooking Staples Center, L.A. Live and the Hollywood Hills, Evo has clearly emerged as the place to be for the many Angelenos seeking investment opportunities and downtown living. Evo is downtown’s only new-construction high-rise available for move-in before 2010.”
In January, Evo reported the sale and closing of a $3.1 million penthouse, which at the time was the highest price ever paid for a single residential unit in Downtown Los Angeles. But, just three weeks later on February 20, Evo sold and closed its second penthouse for $3.2 million, eclipsing its own sales record and setting a new precedent for success. The second record-breaking penthouse spans 3,973 square feet of living space ($803 per square foot) and offers a 3,500 square foot terrace. Both Evo penthouse residents have requested anonymity.
Sales success at Evo is a tangible sign that consumer confidence does exist in the residential real estate market. Based on the optimal conditions of its location, building design and amenities, Evo is thriving on a legacy built by sold-out Elleven and Luma, its triumphant South Park neighbors. Collectively, Evo, Elleven and Luma – all LEED Certified – create California’s largest and most successful green community.
Architecturally stunning and sustainably superior, Evo’s sleek and stylish silhouette rises 24 stories over South Park at the corner of 12th and Grand. Condominiums are priced from the low-$400,000s to $3.6 million, with floorplans ranging from 730 to over 3,500 square feet.
Evo consists of 311 studios, one- and two-bedroom soft loft condominiums and two-story live+work townhomes. Each residence features high-end amenities and rich refined finishes such as natural hardwood floors and wood cabinetry, stainless steel appliances, designer countertops and fixtures, expansive operable windows, decks, Juliet balconies, walk-in closets, four levels of secured parking and a 24-hour lobby attendant. A large open-roof terrace plaza with an infinity-edge lap pool, plasma televisions and shared food preparation area sits atop the sixth floor. “Two-Forty,” an exclusive resident lounge, takes advantage of inspiring views on the 24th floor. Also on the 24th floor is Zen Fitness, the resident-exclusive, state-of-the-art fitness center managed by health celebrity Juliet Kaska.
Interested homebuyers may call (213) 622-5400, visit www.EvoSouth.com or stop by the Evo Sales Gallery at 408 W. 11th Street (at Grand).
Evo & the Growth of Downtown Los Angeles
Despite an extremely challenging economic environment, Downtown remains a center of activity. By the end of 2009, more than 200 new businesses – including dozens of restaurants – will have opened here since 2007. L.A. Live will produce an economic impact of $10 billion, creating more than 25,000 jobs and generating $18 million in new annual tax revenues. Evo is just steps from STAPLES Center, red-carpet events at the Nokia Theatre, Club Nokia, The Conga Room and the GRAMMY museum, which are expected to host at least 600 events annually.
“The growing collection of nearby new restaurants, retailers, and basic neighborhood-serving amenities has transformed Downtown into an increasingly vibrant, sustainable and dynamic neighborhood,” said Ninth District Los Angeles City Councilwoman Jan Perry. “Both Evo and South offer residents a great location in the heart of downtown and their unique pedestrian-friendly and thoughtful design elements set them apart as a model for future projects. The rising success of Evo and the South Park district, alongside L.A. Live and other nearby projects, signals that downtown is still open for business and that Angelenos are willing to invest in true urban living here in our 24-hour city center.”
The South Group
The stability of Evo’s developer, The South Group, inspires additional confidence in the area surrounding Evo. The South Group is comprised of Portland-based Williams & Dame Development and Gerding Edlen Development, whose history of innovative and environmentally friendly neighborhoods have bolstered the City of Portland’s reputation for smart urban planning. With the completion of Elleven and Luma, The South Group has delivered the first residential high-rises in California to be awarded LEED Gold certification. The addition of Evo’s LEED Silver designation makes South the largest green residential community in California.