CULVER CITY, CA-John Laing Homes Urban projects, a division of the Newport Beach firm that is based here, has unveiled two new multifamily developments, the 169-unit Sorrentine and the 88-unit Mosaic. The Sorrentine is an urban village-styled project that will be the first of its type in the Palos Verdes Peninsula city of Rolling Hills Estates, while the Mosaic is a mixed-use development in Sherman Oaks.
According to Phil Simmons, president of John Laing Homes Urban, the new developments are a response to what Laing sees as the continuing consumer demand for urban living spaces. The Mosaic location, for example, is along a stretch of Ventura Boulevard that has become a major destination for those seeking upscale living, dining, and shopping options.
"Given the real estate industry and the state of the market at the moment," Simmons comments, Laing's continued expansion through projects like the Sorrentine, the Mosaic and other new developments demonstrates that the firm is committed to this type of housing. In addition to the Palos Verdes and Sherman Oaks projects, the Laing Urban division's developments include the Madrone, its premier community in Hollywood.
The Madrone will feature 180 units and will offer floor plans ranging from studios through three bedrooms in condominium and townhouse styles, along with retail space along La Brea Avenue as part of the project. The condominium units are planned for 700 sf to 1,600 sf, with the townhouse units to measure up to 2,300 sf, and are expected to sell for $500,000 to $1 million.
John Laing Homes is one of the country's largest privately held home builders and for years has focused on single-family detached projects. With the increased interest in urban infill developments in recent years, however, the firm has diversified into the multifamily arena.
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