The all-inclusive apartment living firm Ollie has announced plans for its second project, a micro-apartment development in Downtown Los Angeles.
New York City–based Simon Baron Development recently acquired the existing historic Cecil Hotel located at 640 S. Main St. in Los Angeles, and together the two firms will transform the property into a 301-micro-unit development featuring 30,000 square feet of amenity space, leased and operated by Ollie.
The New York–based co-living firm seeks to provide residents with a housing experience similar to that of a luxury hotel with high-end amenities. The lifestyle amenities that will be provided at Ollie at the Cecil—which are included in the rent price—include fully furnished apartment options with space-saving transformable furniture, cable and Wi-Fi, and a personal butler service called Hello Alfred, which takes care of housekeeping chores such as laundry, linens, and even grocery shopping.
Catering to the growing demographic of unmarried millennials who live lighter, more communal lifestyles rich with experiences, Ollie partnered with social concierge service Magnises, which will give residents an all-access pass to Magnises members-only social events throughout the city. A live-in community manager will organize on- and off-site social events such as group meals catered by up-and-coming local chefs, happy hours tended by celebrity mixologists, or group travel opportunities such as skiing or tubing day trips.
“At Ollie, it's the job of our community managers to understand what intangibles bind our residents together while also cultivating a sense of inclusiveness and friendliness that reaches across gender, age, ethnicity, and socioeconomic status,” says Christopher Bledsoe, co-founder of Ollie. “Rather than become an island oasis separated by four walls, we want our communities to reach into their respective neighborhoods, making them better for everyone.”
Ollie, the “all inclusive” living experience from which the company gets its name, first found success in New York City with Ollie at Carmel Place, the city’s first micro-unit development. The Manhattan property began leasing in November and opened to residents in early June.
“An extraordinary amount of demand has materialized among people who want to be part of this community, and we don't believe they're coming to us for the free Wi-Fi or the complimentary housekeeping alone,” says Bledsoe. “It has absolutely validated that, for many New Yorkers, quality of life isn't measured in terms of square feet, but rather more holistically in whether the living experience can fulfill them in other ways.”
Residents at the Los Angeles property will have access to 30,000 square feet of amenity space, in which the developers plan to include a rooftop deck with 360-degree views, a heated rooftop swimming pool, a resident lounge and networking areas, outdoor grilling stations, a private party room with a catering kitchen, a fitness club, on-site bike storage, and food and beverage offerings.
“By understanding that space is merely one of many attributes that define the living experience, Ollie is demonstrating how micro-apartments can be used not only as a tool to reduce rent but also to enhance quality of life,” said Matthew Baron, president of Simon Baron, in a news release.
Bledsoe says the company hasn't yet determined a final price point for the units but that market demand will ultimately drive the rent, which will be lower than conventional studios in the area.
“There are only a handful of apartments priced at or below $1,500 per month, which we view as a truly differentiated price point,” Bledsoe says. “Particularly if the apartment eliminates hidden living expenses like furniture, Wi-Fi, cable, and housekeeping, and comes with other complimentary perks like Hello Alfred and Magnises membership.”
