Culver City Breaks Ground on $200 Million, 344-Unit Complex as L.A. Apartment Building Slows

Lincoln Property Co. and McCourt Partners are grading the corner of Jefferson and Sepulveda for ElevenOneEleven, with 52 affordable units, shops and two public parks due in late 2028.

By Herald Staff · Nov. 5, 2026, 11:30 AM ET

A tower crane and the steel frame of a six-story building rise over a graded construction lot where a yellow excavator works, beside a wide palm-lined boulevard with light traffic, under a golden late-afternoon sky with hazy hills beyond. — Grading is underway at Jefferson and Sepulveda boulevards for ElevenOneEleven, a six-story, 344-unit complex its developers expect to open in late 2028.

Crews have started grading a 3.5-acre lot at the corner of Jefferson and Sepulveda boulevards in Culver City for ElevenOneEleven, a $200 million complex of 344 apartments over street-level restaurants and shops, with two public parks, the Los Angeles Times reported Thursday. The developers expect it to open in late 2028 and house as many as 500 people.

The project is being built by Dallas-based Lincoln Property Co. and New York-based McCourt Partners. Lincoln was one of the major developers of nearby Playa Vista, the community built on the former headquarters of Hughes Aircraft Co.

What Is Going Up

ElevenOneEleven, named for its address at 11111 Jefferson Blvd., will be a six-story building, according to Berkadia, the firm that arranged its financing. Of the 344 apartments, 52 will carry income-restricted rents under California's Density Bonus Law, Multi-Housing News reported, which also called it one of the largest entitlements in Culver City's history.

Plans call for about 2,000 square feet of ground-floor retail, 500 parking spaces and roughly 17,520 square feet of publicly accessible outdoor space, including a public plaza along Jefferson Boulevard. Resident amenities listed by Berkadia include a pool courtyard, a second-floor amenity deck, a fitness center, a coworking lounge and a pet wash station.

Renderings by KFA Architecture break the building into several connected sections, pairing pale walls with blue-gray panels and darker brick-toned lower floors, YIMBY LA reported. The site was previously home to a U.S. Post Office, a Coco's restaurant and a Valvoline auto repair shop, according to the Times. The developers had earlier swapped planned office space for more housing, L.A. Business First reported.

The Money Behind It

Last month the partners secured a five-year, floating-rate construction loan of $132.7 million from Bank OZK, the Arkansas lender, Berkadia said in an Oct. 20 announcement. Berkadia's Lou Friedel and Keith Rosso arranged the deal.

Stephen Lindgren, who leads Lincoln's Los Angeles office, told the Times that Culver City has one of the region's strongest employment bases but is considered "severely under-housed," which made the project easier to finance. "Institutional capital likes Culver City," said Jordan Lang, president of McCourt Partners.

The developers expect many residents to come from the tech and entertainment industries. Culver City, a city of about 40,000 people best known for the studio lots that now include Sony Pictures Studios and the Culver Studios, has become a hub for creative businesses including HBO, Amazon and Apple, the Times noted. Berkadia also pointed to nearby Playa Vista, Los Angeles International Airport and the Westfield Culver City mall across the street.

Building Against the Tide

The groundbreaking stands out because apartment construction has slowed across much of Los Angeles County despite strong demand. According to the Times, lenders such as pension funds and insurance companies have grown wary of Los Angeles because frequently changing rules make returns hard to predict, and some investors have taken their money to other cities. Rising construction costs and a shortage of skilled labor add to the pressure.

"There are some pretty intense headwinds in our world," Lang told the paper. "Everyone says we need housing, but then it's really hard to actually provide housing."

The strain is visible a few miles east. This week Brookfield said it would walk away from the Beaudry, a 785-unit downtown tower that is about 95% full, rather than refinance its roughly $360 million loan at today's rates, REI Prime reported, citing The Wall Street Journal.

Culver City, meanwhile, is under pressure to build. Under targets set by the Southern California Association of Governments, the city is expected to add 3,341 homes by 2029, Mayor Freddy Puza said in March, according to the Times. A single project of 344 units would cover roughly a tenth of that goal.

For drivers on one of the Westside's busiest corners, near the 405 Freeway, the change will be visible long before 2028. Grading is underway now, and the building is expected to rise over the next two years.

Original reporting by The Los Angeles Herald, drawing on the Los Angeles Times, Berkadia, Multi-Housing News, YIMBY LA, L.A. Business First and REI Prime, as linked above.