Cypress Equity Investments' 140-Unit Santa Monica Project Goes Vertical

• Construction has gone vertical on Cypress Equity Investments' mixed-use project at 1902 Wilshire Boulevard in Santa Monica.
• The eight-story development will feature 140 apartments, 7,000 square feet of ground-floor retail space, and a subterranean parking garage.
• Affordable housing originally planned on-site will instead be delivered at a separate project through Santa Monica's affordable housing pilot program.

What the Development Includes

Construction is moving upward at 1902 Wilshire Boulevard in Santa Monica, where Cypress Equity Investments is developing a new mixed-use community. The project replaces a row of commercial buildings with an eight-story residential and retail development designed to bring additional housing and neighborhood-serving retail to the Wilshire Boulevard corridor. Plans call for 140 apartment units above approximately 7,000 square feet of ground-floor commercial space. The building will also include a subterranean parking garage, providing parking for residents and retail visitors while maintaining an active pedestrian streetscape along Wilshire Boulevard.

What the Design Looks Like

The project was designed by Patrick Tighe Architecture, with a contemporary exterior combining brick, porcelain, concrete, and stucco materials. According to project documents, the building is organized as a series of interconnected volumes surrounding a linear open space positioned above the podium level. The design gradually shifts as it wraps around 19th Street and the adjacent alley, creating a more unified appearance on the southern elevation while maintaining visual interest along the primary Wilshire Boulevard frontage.

What the Affordable Housing Plan Means

The development is participating in one of Santa Monica's affordable housing pilot programs, which allows a limited number of developers to construct required affordable housing units at a separate location to help accelerate stalled residential projects. Instead of providing 14 lower-income apartments within 1902 Wilshire Boulevard, Cypress Equity Investments will build those affordable units at 1333 7th Street. The approach enables construction of the market-rate project to move forward while still meeting the city's affordable housing requirements through an off-site development.

What This Means for Santa Monica

The project represents another major residential investment along Wilshire Boulevard, where demand for new housing continues to shape redevelopment efforts. By replacing older commercial buildings with a higher-density mixed-use project, the development adds both new apartments and street-level retail in a transit-accessible corridor. Cypress Equity Investments remains active throughout Santa Monica, with additional residential developments planned near the Civic Center and financing recently secured for two more mixed-use projects along Wilshire Boulevard. Together, these investments signal continued momentum for infill development as the city works to expand its housing supply while balancing affordability requirements.