Presented by Pepperdine University
Residents aspire to inhabit world-class living spaces that provide luxury amenities while desiring to live closer to their employment location. However, in Los Angeles, California, overcoming hurdles of the scarcity of land, zoning and entitlement challenges, and development cost issues make developing such projects challenging for local developers. Hence, the paradox surrounding the standard of sustainable living in Los Angeles lies within the development process and in acquiring and entitling land in a highly competitive market. Enter the main stage, Talaria Burbank, a luxury icon in the heart of Los Angeles' Media District.
This Class A luxury mixed-use project in Burbank, California, offers prospective residents an urban suburban mix of living. While Talaria ingratiates itself towards all tenants, the three segments focused on include: (1) The most critical customer group is young professionals between the ages of 20-30. (2) The property location is within walking distance of thousands of healthcare and media employers. Additionally, many employees work in the general vicinity of the project, from Orange County to Downtown LA). (3) Highlighting Talaria's solution to the housing shortage in the Burbank submarket, providing residences for hundreds of families with children attending the city's highly ranked public school system. In addition, media executives constitute the third market segment of Burbank, which accounts for many media companies throughout the city.