LOS ANGELES, CALIFORNIA (October 17, 2016) – The Kor Group is proud to announce that it has begun construction on the luxury lifestyle hotel, Santa Monica Proper, which they are developing with long-time landowner Alex Gorby and the Merchant Banking Division of Goldman, Sachs & Co. Slated to open in Winter 2018/2019, Santa Monica Proper Hotel is The Kor Group’s second partnership with Goldman, Sachs & Co, who is also the lead capital partner on The Kor Group’s Austin Proper Hotel & Residences, which is also under construction.
The 271-room hotel, located blocks from the Pacific Ocean along Wilshire Boulevard in vibrant Downtown Santa Monica, will be managed and branded by the luxury lifestyle hotel operator, Proper Hospitality. The property will feature interior design by international style icon Kelly Wearstler, multiple dining options by local area culinary stars, a rooftop lounge and swimming pool, 8,000 square feet of meeting and event space, and almost 7,000 square feet of ground floor retail. The Kor Group, who is well known for developing iconic adaptive reuse properties in Los Angeles, will work with Santa Monica-based architecture firm Howard Laks Architects to renovate the original 1928 6-story Spanish Colonial Revival style building and expand the footprint with a new modern seven-story building seamlessly merging classic and contemporary design.
“We are thrilled to build a special luxury lifestyle property right in our own backyard with the ideal partners, Alex Gorby and Goldman, Sachs & Co.,” said Brian De Lowe, President and Co-Founder of Proper Hospitality and Partner at The Kor Group. “Like our other flagship Proper-branded hospitality offerings in Hollywood, San Francisco, Downtown LA, and Austin, Santa Monica Proper Hotel will provide a much-needed, high-end boutique experience to one of the most sought-after creative cities in the world.”
When complete, Santa Monica Proper Hotel will become the hub of Downtown Santa Monica’s newest pedestrian-friendly epicenter for business, entertainment, leisure and retail. Only blocks from the Pacific Ocean and other area attractions, it is ideally located in the heart of “Silicon Beach,” an area that boasts a concentration of technology, entertainment and digital media industries and has become a magnet for leading corporations and entrepreneurial tech startups such as Microsoft, Google, Facebook, Yahoo!, IMAX, Apple, and Sony. The hotel is also only a few blocks from the new Exposition Light Rail Station, providing connections to Culver City, Downtown, and the entire Los Angeles rail network.
