Tishman Speyer Unveils Renderings for Two Downtown Santa Monica Housing Projects

Tishman Speyer has presented fresh renderings for two residential projects in Downtown Santa Monica to the Architectural Review Board. The first, planned beside the Santa Monica Library at 1325 6th Street, would be an eight-story building with 110 apartments over 95 basement parking stalls.

The second, one block away at 1323 5th Street, is a five-story, fully affordable development with 35 units. That building would also satisfy the off-site affordable housing obligation tied to 1323 6th Street, and it supports other Tishman sites planned at 1338 5th Street and 1318 Lincoln Boulevard.

Ottinger Architects is designing both buildings. The sites are part of eight properties Tishman Speyer acquired in 2021 from WS Communities. The firm has finished four of them and is now working through entitlement or permitting for the rest of the portfolio.

For developers and lenders, the practical takeaway is that the affordable component is being used to meet off-site obligations across multiple nearby parcels, so the entitlement path for the remaining sites depends on how these two projects advance.