Condos Come to Silicon Beach

Developer Palisades has delivered AIRE Santa Monica, a tailored boutique condo complex that is designed to serve the Silicon Beach market. The property has 19 residences, including nine single-story garden flats with two bedrooms, two bathrooms and outdoor living areas; nine two-level with three bedrooms, three bathrooms and double-height ceilings; and one garden townhome with three bedrooms and four bathrooms across three levels. The properties are priced from the high $900,000's to $1.5 million. JFAK Architects designed the property with clean lines and communal spaces, and automation-ready smart technology. With sales set to begin this summer, we sat down with Ken Simpson, VP of Palisades, to talk about the property.

GlobeSt.com: Why was Santa Monica, and Silicon Beach specifically, an ideal location for this boutique luxury condo project?

Ken Simpson: Santa Monica is known as much for its quintessential beach lifestyle as it is for being a burgeoning hub for technology and media companies. Given the demand for new condominiums, Palisades saw an opportunity to introduce a higher standard of coastal living to this extremely popular market. Since Santa Monica is such a live, work and play destination, one of the key attractions for buyers and visitors alike is the location and the lifestyle it affords. At AIRE, residents can take a short walk or bike ride to popular dining, entertainment and shopping. Santa Monica has a vibrant economy and continues to be one of the strongest residential markets in Southern California. The city's ongoing initiatives to improve its beaches and downtown commercial district, and investments in infrastructure such as the Expo light rail, have made Santa Monica a world-class destination for businesses and tourism.

GlobeSt.com: This is one of only a handful of condo projects to come to the Santa Monica market. What are the challenges of developing a condo project in Santa Monica?

Simpson: The challenge of developing a condo project in Santa Monica is designing residences that are uniquely suited for the market. Santa Monica is a discerning market, and we wanted to create a for-sale product that addressed and appealed to the Santa Monica homebuyer. We engaged JFAK, a local Los Angeles architecture practice, whose thoughtful architecture highlights the coastal lifestyle of Santa Monica, including natural light, generous outdoor spaces, and modern flourishes. We believe that there is inherent value in design, and Palisades is excited to reveal AIRE and bring these nineteen residences to market.

GlobeSt.com: How does this project fit into Silicon Beach and the tremendous growth the market has recently seen?

Simpson: As Los Angeles' tech scene – aptly referred to as “Silicon Beach” – continues to grow, with it comes demand for luxury residences in Santa Monica, Venice Beach and Playa Vista. With the tech-boom and not enough residential condominiums in development to meet the influx of residents, projects like AIRE present a rare high-end residential opportunity for future and new residents of west L.A. Additionally, the Silicon Beach movement has brought a demand for elevated design and living in this beach city. For AIRE's unique design, we sought out a world-class designer to present future residents an opportunity for more spirited living in this highly sought-out neighborhood. With the help of JFAK Architects, we created gallery-like interiors and spaces that allow for a relaxed yet contemporary lifestyle.

As Silicon Beach buyers are looking for new opportunities for sophisticated coastal living, AIRE has been envisioned to embrace Santa Monica's idyllic climate and open-air lifestyle. By incorporating high ceilings and open floor plans, AIRE's residences boast spacious and fresh interior spaces that fluidly extend to the generous outdoor spaces belonging to each unit. We purposely designed each home in accordance with Santa Monica's light patterns and we welcomed the beautiful effect that light has on each room throughout the day. New condo project opportunities present a vibrant new aesthetic for this area. There is a shifting demand for developers to bring a new level of high-design residences to the area and Palisades met it with AIRE.

GlobeSt.com: Is there a high demand for for-sale product like this? What has the response been like?
Simpson: We've seen a high demand for for-sale luxury properties such as AIRE, especially with the influx of tech-personnel moving to the area and with Santa Monica having very little inventory of new for-sale construction. Our interest list surpassed our expectations and since our VIP launch on June 22, we have been receiving a steady flow of foot-traffic touring the property.