Playa Vista Residential Nears Full Build Out

The Seabluff Condominiums is a 75-unit permit-ready project and the last for-sale development parcel left in the market.

LOS ANGELES—Playa Vista is reaching full build out of its residential assets, and it could mean great things for developers already in the market. While there is still plenty of room for office development in the market—and plenty of demand for office space—the master planned community had only a finite number of allotted residential units. Brookfield Residential Properties’ affiliate Playa Capital Co. has sold Seabluff Condominiums, a 75-unit permit-ready project and the last for-sale development parcel left in the market, to a joint venture between Hearthstone and The New Home Co., which expects the property to capitalize off of the supply ceiling. “Seabluff should benefit from high demand and limited competition,” says Tim Barden, SVP at Land Advisors, which represented the seller in the transaction. To find out more about the full build-out of residential units and what this means for the market, we sat down with Barden for an exclusive interview.

GlobeSt.com: We hear a lot about the office market in Playa Vista. How is that market driving demand for housing in Playa Vista?