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Balfour Beatty Construction Cuts $21 Million from Total Project Cost in Completion of 22-story Luxury Residental High-rise Tower in Hollywood
January 27, 2015
LOS ANGELES – Balfour Beatty Construction’s Southwest Division announces the completion of the $76.2 million, 22-story
“Sunset and Gordon”
luxury high-rise residential apartment building in Los Angeles. Built for real estate and infrastructure investment firm CIM Group, Balfour Beatty performed the design-assist project leveraging its cast-in-place, technology and market expertise to lower the project’s total cost from $98 million to $76.2 million. Balfour Beatty’s latest Los Angeles project reinforces its strength serving Southern California’s high-density residential market, in addition to the hospitality and higher education sectors.
The mixed-use, 547,500-square-foot tower is located on 1.7 acres at the northeast corner of Sunset Boulevard and Gordon Street in Hollywood. Designed by GBD Architects, the new residential tower offers 299 rental units above 36,688 square feet of office space, 12,229 square feet of retail and restaurant space, and a parking garage with 523 spaces. The tower features office space on the third and fourth floors, and rental units on floors five through 22 with panoramic views of the surrounding areas. Additional project features include a pool deck on the fifth floor, a media room, and a fitness center.
“We’re pleased to announce the completion of this unique, high-density residential project in which our design-assist team went to great lengths to preserve a piece of history in partnership with CIM Group,” said Joe Martino, senior vice president and project executive for Balfour Beatty Construction. “The project features a re-creation of the original 1920s Spanish-style architecture facades along Sunset Boulevard and a portion of its Gordon Street frontage. In addition to the tower’s vintage design features, it was gratifying to leverage the latest technologies and innovative cast-in-place construction practices to dramatically lower costs and shorten the project delivery schedule.”
A significant contributor to the project’s cost savings included a complete re-design of the structure’s mechanical, electrical and plumbing (MEP) systems, which as a result will enable the building owner to save on average over 500,000 gallons of water per year. Additionally, Balfour Beatty’s expertise in cast-in-place structures enabled the team to reduce construction cycle times and accelerate project delivery by several months.
The Sunset and Gordon site has been occupied by many legendary establishments over the years, including the Peerless Motor Car Showroom and The Motion Picture Hall of Fame in the 1920s, KNX Radio and the Max Reinhardt Workshop of Stage, Screen and Radio in the 1930s, KMPC Radio in the 1940s, and most recently the Old Spaghetti Factory in the 1970s.