8500 Burton Way

LOS ANGELES-Caruso Affiliated has started construction on its 8500 Burton Way apartment complex and has moved a step closer to adding 140,000 square feet of new retail space in an expansion of its Americana at Grand in Glendale. The 8500 Burton Way project, adjacent to Beverly Hills, will comprise 88 units and ground floor retail featuring a Trader Joe’s. In Glendale, Caruso has reached an agreement to acquire the Golden Key Hotel property adjacent to the Americana at Brand from owner Ray Patel in order to redevelop the property.

The 8500 Burton Way project will be an eight-story building in the heart of a shopping, dining and entertainment district at the eastern gateway to Beverly Hills. Apartments will range from one to three bedrooms, and residents will have access to the penthouse/rooftop level with a fitness center and a club room for private gatherings and Caruso-hosted events.

Caruso Affiliated COO Paul Kurzawa says that the new complex, to be called "8500," will occupy "an ideal location that will offer residents the ability to leave the car at home." It will provide 24-hour full service concierge, valet parking and a host of other services and amenities.

Americana at Grand Expansion

Kurzawa pointed out that Caruso Affiliated launched its residential rental program at the Americana at Brand in 2008. "Residents at 8500 Burton Way will enjoy the same exceptional service and pampered lifestyle,” added Kurzawa. Residents at 8500 Burton Way will also have VIP access to events at Caruso Affiliated’s the Grove located approximately one mile east.

Caruso Affiliated’s in-house design team, led by EVP and architect Dave Williams, created the contemporary glass and stone design for 8500 Burton Way with multi-unit residential architects MVE Partners in Irvine, Togawa Smith Martin in Los Angeles and Hetzel Design as an exterior design consultant.

Caruso also has engaged BAMO, an internationally renowned interior design firm, to create the residences. BAMO principals Pamela Babey, David Moulton, Gerry Jue and Michael Booth are widely recognized for their work creating exceptional luxury residential and hospitality properties. The company selected Bernards as general contractor for 8500 Burton Way, which is expected to be completed in early fall 2012.

In Glendale, Caruso CEO Rick Caruso says, the agreement to acquire the Golden Key Hotel "brings us one step closer to achieving our goal, which is to redevelop the property in a way that enhances the downtown business district and provides important new revenue to the city.”

Under the plan as envisioned by Caruso, no city funds will be invested in the redevelopment. The proposed project is expected to generate as much as $800,000 per year in additional revenue for Glendale. Further, Caruso Affiliated plans to make numerous public improvements, at its sole expense, such as widening Colorado Street, and adding streetlights and landscaping to this major downtown thoroughfare.