Next on 6th
620 S Virgil AVE., Koreatown, Los Angeles
Located in one of the hottest neighborhoods in Los Angeles, Koreatown, this high-traffic area provides direct access to downtown Los Angeles via light rail. Fifield and Cypress acquired the property in 2014 and modified the approvals for a mid-rise, 398-unit mixed use development within nine months and commenced construction. Though this site sat on the eastern edge of what was typically considered Koreatown, the development of Next on Sixth expanded the boundaries of the submarket, kicking off several 300– to-400 unit residential developments with corresponding restaurant and retail development. Our experience with the submarket’s unmet demand while developing the 477-unit, three-phase apartment project, K2LA, located several blocks , influenced us to modify our studio, one- and two-bedroom unit mix at Next on Sixth.
The development includes a 22,000 SF small-format Target store. We worked with Target early in the project planning stage to modify the retail and parking configuration to accommodate the store’s urban guidelines. We signed the lease with Target prior to breaking ground on the project.
Like many Fifield projects, we incorporated extensive art in both the public and private spaces of the building, including two large (20’ x 50’) murals by notable national artists at both the Sixth and Commonwealth and Sixth and Virgil corners, while adding dozens of interior custom art pieces, including a commissioned seven-foot tall sculpture on the amenity deck.
- 398 units
- 20,000 Sq Feet of Retail
- Completed 2017
- Fifield Companies, Co-Developer
- Cypress Equities, Co-Developer
- Strand Partners, Equity Partner
- CIBC, Construction Lender
- KFA, Architect
- Cobalt Construction Company, General Contractor