Argonaut – New Homes Selling Fast in Playa Vista

August 6, 2014

Roughly six months after hitting the market, new homes under construction during Playa Vista’s second phase of development have already been selling at a rapid pace — most long before they were ready for move-in.

Since Jan. 23, 119 new homes have sold in Playa Vista, and all but a few of those at prices in excess of $1 million, Playa Vista master developer Brookfield Residential reports.

Ongoing construction will eventually add 2,800 home and apartment residences to Playa Vista’s existing 3,100 residences, making for a community of about 13,000 people in just a few years.

The 11-acre Runway at Playa Vista commercial center is expected to go online early next year with a Whole Foods, movie theater, pharmacy, two bank branches and several restaurants.

“I think this latest phase of development has established Playa Vista as the place where people want to be,” said veteran Westside real estate broker Tami Pardee, adding that creative industry workers and young families are attracted to the development’s close proximity to shopping and amenities.

“People just want to be able to walk or bike to wherever they’re going. They don’t want to drive in L.A.,” Pardee said.

The Pacific Coast Builders Conference recently honored Brookfield Residential with three Gold Nugget Awards for Playa Vista’s new homes: Best on-the-Boards Site Plan, Detached Residential Project of the Year, and Best Single Family Detached Home (for its Trevion design).

— Joe Piasecki

Original Story