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CGI Addresses Shift in Renter Trends With Debut of Furnished Hotel-Style Apartments in Los Angeles

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LOS ANGELES - March 19, 2018 - Rezul -- Real estate investment and development firm CGI Strategies has brought to market The KODO, the first fully furnished, short-and long-term stay, move in-ready luxury residential development in Los Angeles's Koreatown neighborhood.

"The traditional apartment model is trending to fully furnished units to accommodate the new renter profile," said CGI President and Founder Gidi Cohen.   "We are seeing a shift in attitude among today's renters, especially young urban dwellers who are looking for a finished living environment that contributes to their more active lifestyle.   The days of packing up the U-Haul are over.  Renters want a curated experience that includes stylish furnishings, building amenities and boutique hotel-style programming that they can enjoy from the first moment they walk in the door."

The KODO is located at 2867 Sunset Place, one block south of Wilshire Boulevard near the Wilshire/Vermont Metro Station at the Eastern edge of Koreatown.  The 24-hour security, 60-unit building features a mix of custom-designed  "toothbrush-ready" studio, one- and two-bedroom floor plans ranging in size from 500 to 850 square feet.  Each residence features modern stainless steel kitchen appliances, contemporary furnishings, wood plank floors, flat screen high-definition televisions, stone countertops, tile backsplashes, washer and dryer, private balconies and modern lighting and plumbing fixtures.

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The KODO also offers an expansive community lobby, rooftop bar and lounge, fully equipped fitness center, co-working space with Wi-Fi access throughout the entire building. The controlled-access parking garage is equipped with EV charging stations.

CGI has developed the pet-friendly building to include a wide variety of hotel-style concierge services under the management of Los Angeles-based Bread and Salt Hospitality.   Included in the rent is complimentary daily continental breakfast, utilities, bi-weekly housekeeping along with a personalized hand held tablet that can be used to control all systems within the "smart home."   The tablet also can be used to gain access to a wide range of additional services such as a "Butler Box" for 24/7 dry cleaning pick up and delivery, in-suite dining, professional car service, dog walking and grooming services, and personal training.

"This model has proven successful for us in similar high-density markets such Brooklyn and downtown Atlanta and we are planning to bring more of these types of projects to Los Angeles," added Cohen.

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Earlier this year, CGI broke ground on The Mariposa, a mixed-used development in Koreatown that will feature 121-unit apartments over 4,600 square fee of street level retail space.

About CGI Strategies

CGI Strategies (http://www.cgistrategies.com)  is a Los Angeles based value-add real estate investment and development firm with regional offices in Atlanta and New York. The firm's $900 million portfolio includes multifamily, extended stay corporate housing and hospitality, and retail assets located in California, New York and key cities in the Southeastern and Southwestern U.S., particularly in underserved secondary and tertiary markets.

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Bruce Beck
DB&R Marketing Communications, Inc.
***@dbrpr.com


Source: CGI Strategies
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