I’ve been watching TEN50 rise from my apartment window for the last couple years. I’ve watched it go from a hole in the ground to a gleaming new tower developed by Trumark Urban and designed by DTLA-based Hanson LA Architecture. It’s been a constant reminder for me every time I look outside that South Park is growing and finally about to hit a critical mass that will transform a once desolate landscape dominated by lifeless parking lots into a vibrant urban community that’s dense and walkable. As an urban enthusiast who understands that mixed-use density is the main key to unlocking Downtown LA’s full potential, I am so excited that in a few months, new residents will be moving into this brand new tower.
Located at 1050 S Grand Ave (hence the name “TEN50”) the 22-story condo tower, with mostly one and two bedroom layouts, is also a welcome change from the plethora of rental units flooding the market. Although pretty much still a drop in the bucket compared to the overall amount of rental units that are either under construction or have recently opened — we’re talking close to 9,000 rental units according to the DCBID — TEN50 still adds 151 desperately needed condo units to Downtown LA’s housing stock.
Don’t get me wrong. I think it’s great that we’re getting more people to move downtown into these wonderful new rental projects (more people moving downtown means more people activating our streets with urban energy), but there are also lots of people who would prefer to buy a home than rent. And currently, downtown has way more rental options than condos. That’s hopefully going to change over time.
As the first new condo tower to open downtown since the last building boom about a decade ago, I am hoping that TEN50 will sell briskly (they’re about 1/3 sold as of now) so that developers will begin to build more condo projects instead of just rentals. The building, which will include about 5,000 square feet of retail on the ground, will be expecting its first move-ins later this year.
I got a great tour of the units this past week and wanted to share with you a peek inside some of the newly furnished model units that give potential buyers an idea of layouts in the tower.
If you’re interested in learning more about the units, pricing, and building, please feel free to contact me.
TEN50 in Downtown LA
One bedrooms starting in low $600,000s
Two bedrooms starting in the low $900,000s
A larger corner two bedroom unit
Bonus skyline shot