In stark contrast to the secluded homes of Hollywood’s elite in Beverly Hills and Malibu, the apartments of 8500 Burton Way rise like a space-age fishbowl over the busy intersection of L.A.’s La Cienega and San Vicente Boulevards, their floor-to-ceiling glass walls offering residents sweeping views of the surrounding cityscape — while also allowing commuters a peek at the luxurious dwellings within.
The oculus-crowned building is the latest project of billionaire developer Rick Caruso, creator of retail emporia including the Grove in Los Angeles and the Americana at Brand in Glendale, both celebrated and pilloried for melding shopping and theme-park experiences into one family-friendly destination. The new rental complex of 87 units is designed to tap into what he sees as industryites’ desire for more free time and convenience in their busy lives. His business plan for the complex? Charge sky-high rents, ranging from $4,200 monthly for a one-bedroom unit to $13,000 for a two-bedroom, but also throw in an impressive suite of concierge services as part of the deal.
(From the pages of the April 9 issue of Variety.)
“The one thing we can’t buy that we need more of is time,” Caruso says. “We’ll service you like a five-star hotel; you’ll have room service, car and driver, and someone who picks up your laundry and does grocery shopping for you.”
The contemporary, curvy building — architecturally a far cry from the faux Main Street and Mediterranean details of Caruso’s malls — also includes a rooftop pool, replete with club-like facilities. But its piece de resistance is a furnished three-bedroom penthouse designed by Waldo Fernandez, whose clients include Brad Pitt, Soho House and Spago; it rents for $40,000 per month — and is still available.
A Trader Joe’s occupies the building’s ground floor, soon to be joined by the Larder at 8500 Burton Way, from chef Suzanne Goin.
Caruso says the building is 50% rented just three months after its opening.
About half the tenants, he says, are actors, producers and studio execs. “That’s our target demographic. I can’t divulge any names, but there are many people here you would know.”