Construction is underway on a $200 million development that will bring 344 apartments, street-level restaurants and two public parks to the intersection of Jefferson and Sepulveda boulevards in Culver City. Called ElevenOneEleven, the complex is taking shape as apartment construction across much of Los Angeles County has slowed despite strong demand for housing.
Crews are grading the 3.5-acre property at 11111 Jefferson Blvd., where a U.S. Post Office, a Coco’s restaurant and a Valvoline auto repair shop previously operated. Developers expect the complex to be completed in late 2028 and accommodate as many as 500 residents. Of its apartments, 52 will carry subsidized affordable rents.
Dallas-based Lincoln Property Co. and Los Angeles-based McCourt Partners are developing the project. Lincoln previously helped develop nearby Playa Vista on land that once housed the headquarters of Hughes Aircraft Co. The partners anticipate that many tenants at ElevenOneEleven will work in technology and entertainment, industries with a significant presence in Culver City.
The city of 40,000 has long been associated with film production, with studios including MGM, now Sony Pictures Studios, Culver Studios and Hal Roach Studios. Its business community now includes HBO, Amazon and Apple. McCourt Partners President Jordan Lang said Culver City’s evolution from its entertainment roots has made it an attractive location with opportunities for growth.
Housing expansion is also a priority for public officials. In March, Mayor Freddy Puza said Culver City was working toward a Southern California Assn. of Governments target of adding 3,341 homes by 2029. Stephen Lindgren, who leads Lincoln’s Los Angeles office, described the city as having one of the region’s strongest employment bases while remaining “severely under-housed.” That combination helped the developers attract funding, he said.
The partners obtained nearly $133 million in construction financing from an Arkansas bank in October. Their success comes amid broader investor caution about apartment development in Los Angeles. Lenders and institutions seeking long-term investments, including pension funds and insurance companies, have become wary of changing rules that make returns difficult to forecast. Industry observers say regulatory complications since the COVID-19 pandemic emergency have encouraged investors to direct money to other cities.
Rising building costs and a shortage of skilled labor present additional obstacles for housing developers. Lang said those pressures make delivering new homes difficult even when the need is widely acknowledged. “Everyone says we need housing, but then it’s really hard to actually provide housing,” he said.
