LOS ANGELES—Trumark Urban has begunconstruction of TEN50, a $110-million luxury high-risecondominium development in Downtown Los Angeles.Once complete, the project will be the first high-rise residentialbuilding to come online in nearly a decade. The groundbreakingceremony was held last week with several high profile real estateprofessionals in attendance.

“DTLA currently has a lot of apartments, but there are veryfew condominiums. We believe the time is rightfor DTLA to add more for-sale housing, and we areconfident this area will continue to grow into a world-class urbancenter,” Arden Hearing, managing director atTrumark Urban. “Trumark Urban prides itself on seeing comingtrends. In fact, we were among the first in San Francisco to comeout again with condos for sale, and we see very similar marketdynamics present in DTLA. During the last developmentcycle, DTLA was just getting its footing. But since thedownturn, DTLA has evolved at a pretty incredible pace,so we feel that this is just the beginning of a remarkable wave ofdevelopment in the area. We're thrilled to be leading the charge onthe condo development side.”

Located at 1050 S. Grand in Downtown Los Angeles, theproperty stands 25 stories tall with 151 one- and two-bedroom unitsas well as two-story, two-bedroom penthouses. The buildingamenities will feature the standards: a pool, spa, fitness centerand cabanas, as well as some standouts: indoor and outdoor privatedining areas, a yoga garden, green spaces with barbeques and a firepits, a screening room. The property will also feature thefirst-ever drone landing pad on the rooftop. The drone landing padwill be used to deliver packages to residents, curbing the increasein deliveries from ecommerce sites. “We see TEN50 as a greatopportunity to take residential DTLA living to a newlevel and raise the bar on the design-side,” Hearing explains. “Noproject currently in development will have the resort-styleamenities and glamorous finish package that TEN50 will have.” Theproperty is expected to open in September 2016.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.