We've been watching the hulking fellow at La Brea and Hollywood for four years (almost exactly!) and today we can finally, officially welcome the project now known as The Avenue to the rental dance floor. Excuse us, there's something in our eye. The Avenue, formerly known as the Madrone, actually started sales in 2008, when it was only partially-finished. Obviously that was a bad luck move; in early 2009, construction stopped and developer John Laing Homes filed for bankruptcy. In September 2009, original investor Resmark Equity Partners bought up the whole project and work finally started again in June 2010. That's also when the project went rental. In July 2010, it was renamed The Avenue. And today, mark it, December 14: The Avenue has arrived and is actively renting.
Cuningham Group Architecture designed the seven-story project, which includes three buildings around a central courtyard. There are 180 one, two, and three bedroom units, with 25 different floorplans. All come with patios or balconies and washer/dryers. Outside, there's a private pocket park designed by Mark Tessier Landscape Architecture and a pool, fitness center, firepit, and dog run. Residents will be able to make "online service requests and amenity reservations," according to a press release, and there will also be a full concierge staff to do all kinds of bidding. Rents start at $2,350 per month.
· The Avenue Architectural Apartments and Penthouses Now Open [MarketWatch]
· Construction Watch: Madrone is Live [Curbed LA]
· Hollywood's Madrone Project Hits The Skids [Curbed LA]
· Hollywood's Madrone Gets Loan, Finally Restarting Construction [Curbed LA]