AVANA ON WILSHIRE

Avana on Wilshire occupies an important street corner in historic Wilshire Center at the heart of Koreatown. With ground-floor retail and five stories of above-grade luxury apartment living, the development provides the community with dining and service amenities, while enjoying immediate proximity to L.A.’s mass-transit Red Line and historic landmarks, such as The Wiltern Theatre. Representing one of L.A.’s most urban sectors, Koreatown (known by locals as K’ Town) boasts the second-highest Korean population in the world, preceded only by Seoul, Korea.

Development parcels along the Wilshire corridor do not come on the market every day, yet most investors were reluctant to secure the site due to environmental hazards left from its years as a gas station. With the foresight to recognize the incredible opportunity the location provided, and experience dealing with contaminated soil, we faced the environmental mitigation process head on. With the right experts on the job and added precautions, we were able to ensure future residents could enjoy a clean and healthy living environment.

Implementing a mixed-use program that catered to the urban living demands of the area, to this day, provides residents and the community with coveted amenities, such as sit-down and fast-casual dining. The investment prospects and development strategy have paid dividends for both locals and investors. Avana on Wilshire has become a great place to live (and dine), resulting in unusually high occupancy with only 2% of the units vacant at any time.