Lincoln Property Company, McCourt Partners Break Ground on 344-Unit ElevenOneEleven in Culver City

LOS ANGELES – Lincoln Property Company and McCourt Partners broke ground Nov. 5 on ElevenOneEleven, a mixed-use development that will deliver 344 multifamily units on a vacant parcel in Culver City, the firms announced.

The project sits at the intersection of Jefferson and Sepulveda boulevards, at 11111 Jefferson Blvd. Completion is anticipated in the fourth quarter of 2028.

ElevenOneEleven Project Details

ElevenOneEleven will include 344 apartments, 52 of them affordable units, along with 2,000 square feet of neighborhood-serving retail and 17,520 square feet of publicly accessible outdoor space. The affordable units represent about 15% of the total, with the remaining 292 apartments to be market-rate.

The six-story building will rise on a site of roughly 3.43 acres formerly occupied by a U.S. Post Office, a Coco's restaurant and a Valvoline auto-repair facility.

Resident amenities will span two floors. The first floor will include a resident club with a sports simulator and gaming lounge, a private courtyard with a pool, outdoor lounge, grills and movie screening area, and a fitness center with a sauna. The second floor will house a co-working space and an expansive outdoor lounge.

Construction Financing and Development Team

The project is backed by a $132.7 million construction loan from Bank OZK, arranged by Berkadia. The loan represents approximately 66% of the reported development cost, which would put total costs near $200 million, or roughly $581,000 per apartment.

KFA Architects designed the project, and Kimley-Horn is serving as civil engineer. Allen Matkins represented the project on all land use matters.

Developers Cite Culver City Rental Market

"By adding meaningful new housing supply and open public spaces, ElevenOneEleven will create a more connected, pedestrian-friendly environment that supports the neighborhood's long-term growth," said Stephen Lindgren, senior vice president and Los Angeles market lead at Lincoln Property Company. "Culver City remains one of the strongest rental markets in Southern California, and this site captures many of the qualities that make the location compelling, including proximity to major employers, necessity serving retail and convenient access to the best West LA lifestyle amenities."

Jordan Lang, president at McCourt Partners, said the groundbreaking "marks a significant milestone in our vision for this development and underscores our confidence in the long-term future of Culver City." He added: "At a time when advancing large-scale developments requires greater creativity, collaboration and conviction than ever before, we are proud to move this project forward alongside Lincoln. This milestone reflects our shared commitment to delivering meaningful projects that contribute to the continued evolution of Los Angeles."

Location and Regional Access

The site sits at the crossroads of Culver City, Playa Vista, Marina del Rey and Venice. Nearby destinations include Downtown Culver City, Abbot Kinney Boulevard, SoFi Stadium and the Kia Forum. The location provides access to Interstates 405, 10 and 105, as well as State Route 90, connecting to the greater Los Angeles area.

Pipeline and Firm Background

ElevenOneEleven is Lincoln Property Company's third Culver City development. It adds to a multifamily pipeline of more than 2,200 residential units underway across Los Angeles County.

Lincoln Property Company is one of the largest private real estate firms in the United States, with a combined management and leasing portfolio on behalf of institutional clients of more than 720 million square feet of commercial space. McCourt Partners is a family-owned real estate development, investment and management firm with more than $1 billion in permanent capital and a portfolio spanning more than 38 million square feet across office, hotel, residential and mixed-use assets. Its projects include 360 Tenth Avenue in New York and The Stage in London, and the company recently broke ground on a 28 million-square-foot development site in Phoenix, Arizona.

With construction now under way, the project is set to add housing, retail and public open space to the Jefferson and Sepulveda corridor ahead of its targeted late-2028 completion.

Sources

• Lincoln Property Company press release: https://lpc.com/press-releases/lincoln-property-company-and-mccourt-partners-break-ground-on-elevenoneeleven/