October 19, 2016
Venice, CA-based Kor Group initiated construction on Santa Monica Proper, a mixed-use hotel and retail development in Santa Monica, CA. The 271-room luxury hotel and retail complex involves redeveloping the existing Santa Monica Professional Building, a six-story Spanish Colonial Revival building built in 1928.
Plans include adding a new seven-story building, 7,000 square feet of retail on the ground floor, 8,000 square feet of meeting and event space, as well as multiple dining options and a rooftop lounge and swimming pool.
Proper Hospitality will manage and brand the hotel. The project, designed by Santa Monica-based Howard Laks Architects and featuring interior design by Kelly Wearstler, is expected to open by early 2019.
The property is owned by Alex Gorby. Financing is being provided by Goldman, Sachs & Co.’s Merchant Banking Division.
*Howard Laks Architects rendering
For comments, questions or concerns, please contact Dennis Kaiser
Tags: construction, development, financing, Goldman, hotel, Howard Laks Architects, Kor Group, mixed-use, Proper Hospitality, redevelopment, retail, Sachs & Co., Santa Monica, Santa Monica Professional Building, Santa Monica Proper