Construction has begun on a development called “The Village” in the region of Santa Monica, California.
The Village complex is a $350 million dollar building which is the final piece of redeveloping the downtown region of Santa Monica.
The Village is a combination of 318 apartments and condominiums that are affordable to the community while there are many amenities nearby such as restaurants, plazas, gardens, hotels, 3rd Street Promenade and shopping centers. The residential development is the first of its kind in over 20 years in the surrounding area of Ocean Avenue. In close proximity to the Village complex will be the Palisades Town Square which will be considered a landmark as it opens in the year 2013.
The Civic Auditorium is also close to the apartment building and it will be going through a revitalization process as well. The Art Deco in City Hall will also go through a $50 million dollar restoration process.
The surrounding community in Santa Monica is going through an economic development phase as many people migrate to the surrounding region. One of the most important amenities of the Village complex will be the efficient access to the transit which will open during the year 2015. The Expo Line will connect Downtown Los Angeles with Santa Monica.
The Mayor of Santa Monica elaborates on how the establishment of The Village will add elegance and beauty to the surrounding community. Economic diversity is important to the mayor and pinpoints the affordable prices which will be available to potential residents of The Village. Related California is currently the main contractor that will be building the complex. The CEO of Related California Bill Witte states that the intention of the building will be to create the ultimate village for the region of Santa Monica.
Overall, the establishment of The Village will lead to a form of growth for the area of Santa Monica.