Koreatown is getting a new apartment complex with the grand opening last weekend of the Next on Sixth multifamily property at 620 S. Virgil Ave. in Los Angeles, CA.
The project was built by Century West Partners, a joint-venture partnership of Fifield Companies and Cypress Equity Investments. The two-day grand opening ceremony included local artwork.
The 325,000-square-foot, mixed-use project features 398 studios, one- and two-bedroom apartment units in addition to a rooftop lounge, a swimming pool, a dog park and grooming station, an outdoor spa with a private massage room, a two-story fitness center and an indoor simulated golf range as well.
A 22,000-square-foot, ground-floor retail space will be home to Target, the retailer’s first location in Koreatown. When the store opens in March 2018, it will be one of Target’s small-format locations, of which there are nine others in Los Angeles, according to Target spokesperson Kristy Welker.
“NEXT on Sixth elevates a live, work, play atmosphere that residents will appreciate,” said Randy Fifield, principal with Century West Partners. “In addition to the well-appointed apartments, access to the train, night life and Target, NEXT on Sixth makes Koreatown more relevant than ever before.”
Century West Partners Co-Founder Michael Sorochinsky said it is a major coup for the development’s residents and the surrounding community to secure a Target store. Century West Partners also recently completed the 476-unit, three-building K2LA multifamily complex in Koreatown.
Other projects being planned for Koreatown include a seven-story mixed-use project with 77 live/work units and 3,105 square feet of retail to be built a block away, according to plans filed with the Los Angeles Department of City Planning.