Chase Knolls, a 14-acre apartment community secluded on four city blocks in Sherman Oaks, has entered a new era with a historic renovation that will preserve the community’s historic garden setting while adding 141 new residences to its existing 260 classic apartments. Beginning in July, the next generation of renters will be able to move into the recently delivered 50 newly built homes.
Originally built in 1949, the property provides a glimpse into the country’s post-war, Mid-century modern architectural past. Located at 13401 Riverside Drive, the property was designated as a Los Angeles Historic-Cultural Monument in 2000. Purchased by Waterton in 2014, in partnership with The Kor Group, plans for bringing new life to the site began. The partnership’s shared vision for Chase Knolls was to add new housing with the most modern amenities, while preserving the serene and secluded courtyards which have existed since just after World War II.
“Just as it was 70 years ago, Chase Knolls remains the peaceful sanctuary away from the hustle of Los Angeles, while only a short walk away from all the amenities that a world-class city has to offer,” said Scott Ferguson, senior vice president of regional operations at Waterton. “As the city expanded around the property, this oasis has fended off urbanization to remain unlike anywhere else in Los Angeles. Our vision was to protect this, yet we’ve fused the past and the future to offer a residential experience that is truly the best of both worlds.”
The brand-new units include kitchens with quartz countertops, stainless-steel refrigerators, stoves, dishwashers, and in-unit washers and dryers. Amenities also include a keyless entry, smart thermostats, private patios and modern finishes. Covered assigned parking is also available.
Upon completion of the final phase, the pet-friendly property will include manicured grounds, courtyard gardens, walking paths, and extensive landscaping. All of these elements create a tranquil setting for all residents. Buildings are integrated into the carefully planned landscape and provide direct access to picnic areas that exist throughout the grounds. In addition, an outdoor pool, clubhouse and fitness center are planned to open in 2021.
The newly built units pay homage to architects Heth Wharton and Garden City Movement architect Ralph A. Vaughn, and their original, mid-century designs. Vaughn led the way, with the design of Chase Knolls Garden Apartments, as one of the first African-American architects in Los Angeles and a designer of residential housing in the San Fernando Valley. Both styles fit together seamlessly and reflect the retro vibe that exists throughout, while still including updated amenities and the core priorities of today’s renter.
Located near the Sherman Oaks Galleria and minutes away from Westfield Fashion Square, Chase Knolls is two blocks from the 101 Ventura Freeway and just over two miles east of the 405 interchange. It is close to restaurants, bars, shopping and top-tier entertainment, all of which contribute to its status as a retro hide-away in the heart of Sherman Oaks.
Chase Knolls is the second classic multifamily project that the partnership of Waterton and The Kor Group has introduced to the Los Angeles area in the last year. In 2019, Waterton opened The Flat, an affordable living option near the booming rental market adjacent to LA Live and Staples Center. In both cases, the partners identified properties in the greater Los Angeles area with enormous potential to be brought back to life based on their visionary fusion of classic design and modern amenities; bringing new housing to middle-market renters.
For more information about Chase Knolls, please visit www.chaseknollsapts.com.
About Chase Knolls
Chase Knolls is a newly renovated mid-century garden style apartment community in the heart of Sherman Oaks, offering both furnished and unfurnished apartment homes. For more information, please visit Chaseknollsapts.com.
About Waterton
Waterton is a real estate investment and property management company with a focus on U.S. multifamily, senior living and hospitality properties. Founded in 1995, Waterton executes value-add strategies and manages a national portfolio of properties on behalf of institutional investors, family offices and financial institutions. Waterton is privately held and is headquartered in Chicago with regional teams throughout the United States. As of March 31, 2019, Waterton’s portfolio includes approximately $5.3 billion in real estate assets. For more information, visit waterton.com.
About The Kor Group
The Kor Group is an international real estate investment and management company with extensive holdings and development experience in commercial real estate properties. Since its inception in 1999, Kor has acquired and developed hospitality, residential, and office assets valued in excess of $2.5 billion and has over $1 billion in active developments. For more information, visit www.thekorgroup.com.
