Beverly Hills-based Etco Homes Inc. has finished its One Coast community in Pacific Palisades, a development that features 53 ocean-view townhomes and flats.
The property overlooks Sunset Boulevard and Pacific Coast Highway and includes a unique selling point that’s well-suited for the Covid-19 era: Every home has its own elevator.
Bree Long, an executive with Etco, called the elevators a “huge aspect of the offering” adding that they play into the building’s East Coast vibe.
The elevators open directly into the homes.
“It’s a nice feature for someone who wants the advantage of not having to take the stairs,” Long said.
One Coast has generated a lot of interest, according to Long.
“What was most pleasing to me was to see the renewed vigor and interest from our brokerage community,” she said.
Long added that a product like One Coast “really hasn’t been seen in the Palisades market in the last 30 years or so.”
It represents what people want now, she added.
Long said she’s seen a lot of demand from people in the West Valley who want to be on the coast, but without sacrificing space. She is also seeing interest from people in areas like Florida and New York seeking a vacation home in Southern California.
Some potential buyers were in L.A. for the summer and have already decided to shop for a home here for next year, she said.
For many, Long said, the urge to buy rather than rent is “really this budding longing for security that people have and wanting to feel like they are settled and their home is a safe haven.”
Long added that with the pandemic, some buyers are looking at the size of the units as a plus because they can have things like a home office or gym.
“The square footage being as ample as it is at One Coast really affords them the convenience of these lifestyles while owning a single-family home,” she said.
Long added that there is also pent-up demand to buy homes in L.A. after a slow spring, especially because interest rates remain low.
Etco focuses on developing condos in urban areas and said it plans to deliver roughly 180 homes next year.
Its current projects in Los Angeles County include Ainsley in West Hollywood and Ato in Little Tokyo.