first look: evo

by Stephen Friday on June 2, 2008

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Completing South Group's trilogy of glass condominium towers on 11th Street between Hope and Grand is Evo, the tallest and most luxurious installment of the South Group residences yet.

On a brief tour of the nearly-completed structure late last week, development representative Rhonda Slavik explained that the 24-story structure will begin move-ins next month on the first 10 floors, followed by phased openings of each floor thereafter over the course of several weeks.

"We're just under 30% sold at the moment," Slavik says confidently, pointing out that higher-end units have been some of the first to go. "Of eight penthouses, we only have two left."

Though some residences are being offered for as little as the low-$400,000s, prices for those penthouse units start at $2.2 million and will sell for as much as $3.6 million, tapping into a class of buyers Evo was designed to attract, the likes of which may not be heavily affected by today's credit crunch.

“At this price point, we believe buyers expect to see completely finished interiors, demising walls and proper rooms,” explains Slavik, comparing the units of Evo to its sister buildings Elleven and Luma that carry a more industrial look and feel. “With each new building phase at South Group, the product has become progressively more sophisticated.”

Even still, the wood floors/cabinetry, floor-to-ceiling glass windows, kitchen appliances and other finishes are very similar to those found in the previous two phases.

Unlike Elleven and Luma, however, which share a pool area and outdoor community space (with no other residential amenities), Evo residents will have access to a private amenity deck as well as a snazzy resident lounge and fitness center on the building’s 24th floor.

And with all that money being lured by the extra-posh facilities and maturing neighborhood, finding prospective retailers has not been a problem, but once again, dining and nightlife dominate the scene.

As previously reported, a 4,540 square-foot resto-lounge and Santa Monica-based wine bar are expected to fill the 7,294 square-foot ground-level commercial space. Neither business has executed a lease, but Slavik says the developer is in serious negotiations with the new wine bar and a deal is expected to be made soon.

Bottle Rock, you’ve been warned.

-unofficial evo retail report, interior renderings

Evo Bathroom