Four major development projects will look to transform Santa Monica, including two buildings that would become the tallest in the city.
Boutique land use law firm Rand Paster Nelson, on behalf of property owner Madison Realty Capital, recently submitted project updates to the city. Two of the projects scale to over 30 stories in height, a 33-story multifamily building at 3025 Olympic Blvd. and a 34-story mixed-use building on Nebraska Ave. Over 1,500 residential units were planned for the major makeover around the southeast corner of the city, between the 26th St/Bergamot and Expo/Bundy Metro stations.
The 3025 Olympic project calls for the 33-story building to be housed on a parcel size of 43,447 square feet. The unit count on the property would be 482, with 72 of the units being affordable in order to qualify for a 100% density bonus under State Density Bonus Law. Out of the affordable units, 12 were noted as very low-income, 12 as low-income units, and 48 as moderate-income units. Two subterranean parking levels are also included, totaling 206 parking spaces.
Another project on a separate 3025 Olympic parcel is an expansion of previous plans. Originally applied in March as a 122-unit development, the revised application bumps the number up considerably to 315 residential units, 48 of those affordable. The mixed-use project would also hold 33,140 square feet of office space along with the 39,056 square feet of residential room, as well as 134 parking spaces on two subterranean levels.
Two large mixed-use endeavors would be slated for 3030 N. Nebraska Ave., with the first parcel of 43,494 square feet calling for 497 residential units (74 affordable). The 34-story building would house 5,921 square feet of retail space, along with 201 parking spaces. Also at 3030 N. Nebraska, Madison Realty envisions a 298-unit project (44 affordable) alongside 4,147 square feet of retail space and 130 parking spaces across two levels.
The 34-story Nebraska project would become the city’s tallest at 365 feet, dwarfing the previously-announced 21-story, 295-foot tall project at 100 Wilshire and the 24-story, 260-foot tall mixed-use project at 601 Colorado. The Colorado project, another Madison Realty endeavor which will be coming to Downtown Santa Monica in the coming years, was critiqued in online commentary for being out of character with the neighborhood. The 33-story Olympic project would stand at 334 feet, also much taller than the proposal at 601 Colorado.
Along with making the rest of the city’s buildings look small, the Nebraska project would be Santa Monica’s first two entries into Los Angeles’ top 100 tallest buildings, and the first two to be classified as a "skyscraper" (328-plus feet in height). According to LA Almanac, if the Nebraska project comes to fruition, it would be the 76th-tallest building in the city, not counting other projects currently underway. The building would be the same height as the Level hotel in Downtown Los Angeles, and taller than such sites as the Beaudry Center and Century Park Plaza.
The proposals align with recent discussions to amend the Bergamot Area Plan, in order to make the neighborhood a more development-friendly space in Santa Monica. The Nebraska projects, in particular, highlight the vision of city staff to identify Nebraska and Pennsylvania Ave. as a Retail Priority Corner and Pedestrian Priority Corner. Rand, Paster & Nelson’s Dave Rand recently told the Santa Monica Planning Commission that he thought the updated Bergamot plan was a "very thoughtful proposal" and would "regain some of the original vision" of the area’s development.
As for Madison Realty, the capital firm took over much of the NMS Properties portfolio earlier this year, including 3030 Nebraska. The firm is making headway with the 601 Colorado project, the recent four filings, and an 18-story apartment building at 1437 6th St.
