In the wake of the subprime crisis of 2009-2011, Fifield developed Avant as the first new luxury mixed-use apartment project to be delivered in the South Park neighborhood of downtown Los Angeles.
After purchasing the first 54,000 SF site in a short-sale from a Korean bank that had planned to build a 30-story condominium project, we quickly modified the previous approvals. We obtained all entitlements and permits within one year of site acquisition, for a seven-story, 247-unit apartment building at 1340 S. Figueroa, in the shadow of the Staples Center. We executed a “clustering strategy” by acquiring three nearby sites and constructing the 190-unit Avant Phase II at 1420 S. Figueroa, which we operated with 1340 S. Figueroa for greater efficiency and service delivery. Avant is located one block from the Blue Line on S. Flower street, providing convenient access to downtown, Santa Monica and Long Beach.
Building Details
- 440 units
- 10,875 Sq Feet of Retail
- Completed 2014/2015
Project Team
- Fifield Companies, Co-Developer
- Cypress Equity Partners, Co-Developer
- The Carlyle Group, Equity Partner
- Comerica Bank and Fifth Third, Construction Lenders
- GMP_LA, Architect
- Driver URBAN, General Contractor
