November 26, 2020 #1 Local News, Forum, Information and Event Source for Venice Beach, California.

$120M Mixed-Use Project in Marina del Rey Completed

By Toi Creel

The G8 development is officially done. The California Landmark Group recently completed the $120 million mixed-use project which will contain rental units as well as office space.

The building is located less than five blocks from the beach at 4040 Del Rey Avenue near the intersection of Washington and Lincoln boulevards. It’s also near Culver City located just steps away from the City’s western border and also east of Venice.

Overall, the property has 228 rental units and 25,000 square feet of creative office space. 21 of the units will be set aside for low-income and affordable housing and 68 of the units will be used as co-living spaces.

The apartments will range in space from 550 to 1,500 square feet. There will also be a combination of single, one-, two- and three-bedroom units.

The three acre property was acquired by CLG back in 2018 at the price of $5.1 million according to records. Even though the building has just been completed, according to CLG founder Ken Kahan, it’s already 80% leased.

In addition to the living space, amenities will include a private theater room, game facility, fitness center, yoga studio and rooftop deck all designed by RIOS and PK Architecture.

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