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Evo Enters an Interesting Downtown Market

By Jeannine Denholm
Published: Tuesday, October 07, 2008, at 02:10PM
Penthouse view Jeannine Denholm [Flickr]

View from Evo penthouse patio facing North

Several weeks ago the developers of Evo began inviting realtors, the media and community leaders to tour the newest addition to South Park's skyline before it's official public opening. I went last week but have had a tough time figuring out how this beautiful new development would fit into the harsh, depressing real estate market and slowing economy. It felt irresponsible writing a glowing review without at least acknowledging the current situation.

Luma and Elleven, The South Group's two other Downtown developments, both opened in much rosier times and sales have reflected that fact. At last check Evo sales reps said the building was 30% sold. Despite the downturn, interest certainly has remained high. Several high profile Downtown events will be held at Evo, including an evening sponsored by Dwell Magazine, which will expose even more people to the brand new building.

The main thing that struck me while touring Evo is this is the type of development that targets a very specific audience, one that probably would not want to live in an older building in the historic core or Arts district. A buyer here really wants to spend their time in a resort setting. While the idea of Downtown living may not appeal to everyone, Evo and the South Group buildings are proof that the Downtown market has a development for almost any taste.

The lofts I toured had gorgeous views, new appliances and spacious bathrooms; along with envious amenities like a large workout room complete with an inspiring skyline, an infinity pool that rivals a 5-star hotel and meticulously landscaped common areas.

Regardless of the financial downturn, Evo is a welcome and very exciting addition to South Park. Given the building's location just blocks from LA Live, condos starting in the mid-$400,000 range should prove to be a good investment even in this market.

Evo Sales Office / 408 W. 11th / Los Angeles, CA 90015 / 213-622-5400 / http://www.southcollection.com

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