Gerding Edlen People Planet Prosperity

105-unit, oceanfront apartment building

Novella Redondo, located at 616 Esplanade St. in Redondo Beach, California, was acquired in 2012. Originally constructed in 1971, Gerding Edlen executed an extensive renovation to the 105-unit, 170,000 sq. ft. apartment building including exterior and landscaping improvements, unit interior upgrades and the addition of sustainable features that contributed to a Greenpoint Rated-elements certification. The property provides a mix of unit types and floorplans, ranging from studios to two-bedrooms, and a full suite of amenities. Novella Redondo is located one block from the Pacific Ocean, providing residents direct access to the beach and ocean views from apartments. Gerding Edlen successfully acquired, renovated, re-leased and managed the property, which was sold in 2015.

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Novella Redondo

Location: Redondo Beach, CA
Type: Apartments
Certification: GreenPoint Rated (target)
Square Footage: 170,000
Owner: Green Cities I, LP

- 105 residential units with balconies or patios
- Highly desirable location one block from the beach and walkable to both the Redondo Beach Marina and Riviera Village shopping center
- Amenities include a swimming pool, pool-side resident lounge and fitness center, two laundry facilities and secure bike parking
- Unit upgrades included fully-renovated kitchens with quartz countertops and Energy Star-rated stainless steel appliances, FloorScore certified wood grain flooring and updated lighting fixtures
- Additional sustainability upgrades included new window installation, in-unit hot water heaters, dual flush toilets and low-flow, high performing shower heads and lavatories
- Landscaping improvements included drought resistance plants
- Management spearheaded the first residential composting program in the City of Redondo Beach

Livable
Place Index™

Green Cities Fund II & III

Planet

2017 Annual Savings

Energy
20.3 million kWh
(1,495 homes)
Air
7,778 metric tons CO2
(1,636 cars)
Water
20.2 million gal
(1,009,980 million showers)