Museum Terrace, the Miracle Mile's first major new apartment complex since the World War II era, will open today.
The $22-million, four-story building at 600 S. Curson Ave. is opposite the George C. Page Museum at the La Brea Tar Pits. According to developers Goldrich & Kest Industries, Culver City, the 212 units are nearly 50% leased.
The last major apartment complex in the area was Park La Brea, started before World War II, with the final tower not completed until 1954.
Museum Terrace is the result of a collaboration between the developer and the City of Los Angeles. The city assisted Goldrich & Kest in initiating a bond financing package--the first housing bond financed for a single non-subsidized project by the city and the first variable-rate housing bond issue ever closed by the city.
Varied Rental Rates
Twenty percent of the apartments will be made available to low- and moderate-income residents, at rental rates based on their incomes, to assist in expanding housing opportunities in the area.
Designed by McLarand, Vasquez & Partners, Museum Terrace reflects a variety of images. According to the architect, the building's salmon and teal colors are derived from the hotels of Miami's Art Deco district.
Interior courts and passages are inspired by southern Europe and the windows, railings and plantings represent a softened version of contemporary Los Angeles high tech.
The 344,771-square-foot building features a two-story front lobby designed in granite, marble and stainless steel. There are two subterranean parking levels, with spaces for 406 cars.
All Have Balconies
Museum Terrace offers four one- and two-bedroom floor plans priced from $800 to $1,600 a month. There are six courtyards, pool, spa and exercise facilities. Each apartment has an exterior balcony.
Prestige Homes Inc., Culver City, was contractor and Ed Grip, Oxnard, was landscape architect.
In 1981, Goldrich & Kest developed the Wilshire Galleria condominiums at 750 S. Spaulding Ave., also in the Miracle Mile area.