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June 1, 2009
"Largest" Sales Event Ever This Weekend at Evo
April 20, 2009
Evo Maintains Furious Sales Pace,
Announces New "Homebuyer Advantage Sale"
March 2, 2009
Evo High-Rise Reports 24 Year-to-Date Sales, Continues Furious Pace as Los Angeles’ Leading Residence
February 2, 2009
Sales Success at Evo High-Rise Signifies Steady Consumer Demand
September 4, 2008
The “EVO”-lution of South
August 1, 2008
Sip, Sup and Celebrate the Art Scene at South
July 25, 2008
LA Hard Hats
April 22, 2008
Good as Gold for Going Green: Luma Awarded LEED Gold Certification on Earth Day
October 30, 2007
The Midas Touch: The South Group’s Elleven Awarded LEED Gold Certification
April 11, 2007
Building on Success
December 18, 2006
The South Group Steps up Customer Service with Management Position
November 20, 2006
The Building Buzz is “Brewing” in South Park
July 6, 2006
Jr. Achievement “Job Shadows” Developers, Learns the Nuts & Bolts of Building Industry
June 23, 2006
The South Group's Evo Comes Flying Out of the Gate With Stunning Sales Event Numbers
March 7, 2006
Evo Elevates Urban Living in Downtown Los Angeles
December 21, 2005
Sierra Club Names The South Group’s Portland Development One of America’s Best
December 1, 2005
"Figueroa South," The South Group's Newest, Earns CRA Approval
November 29, 2005
Developers Thrilled by Weekend Sell-out
November 3, 2005
Civic, Business Leaders and Urban Pioneers
October 27, 2005
The South Group Announces Plans for New "Figueroa South" Residential Development Within the "South" Community
October 27, 2005
Evo, Developer's Third New Luxury Condo Project, Breaks Ground in Downtown Los Angeles
August 31, 2005
Downtown Urban Development Strengthened By Unique Relationship
August 23, 2005
Elleven's Scorecard: 50% Complete; 100% Recycled
August 16, 2005
The South Group Breaks Ground on Luma, Downtown Los Angeles' All-New Condominium Project
April 20, 2005
Green is Gold for Prominent LEED Developers
April 8, 2005
Downtown Developer, The South Group, Honored
November 15, 2004
Getting In On the "Ground Floor," Urban Pioneers Swamp Developers of First New Downtown L.A. Condos
October 19, 2004
The South Group & AEG Join the Mayor's Office to Inform Minority Businesses About Subcontracting Opportunities with Elleven Urban Dwellings & L.A. Live Projects
September 30, 2004
Downtown's First New Condo Project in 20 Years, 'Elleven,' Breaks Ground
September 29, 2004
Elleven, Downtown's First New Residential High-rise in Decades, Now Underway
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LOS ANGELES, CALIFORNIA - April 20, 2009 - Developer The South Group has reported yet another month of stellar sales at its Evo condominium high-rise, the much-anticipated third phase of South, L.A.'s first and only LEED certified "green" community. Since January 1, 2009, Evo has sold 40 homes, averaging more than ten sales per month. Evo also continues to close escrow on more homes than any other downtown development as new residents move in every week.
Evo is now 35% sold out, but that number is expected to significantly rise during Evo's upcoming "Homebuyer Advantage Sale," exclusively from April 30 through May 3. The sale will offer reduced prices on 25 select units between $385,000 and $450,000. During the sale and on these select units only, qualified homebuyers will benefit from a 4.875% 30-year fixed-mortgage rate, a reduced 10% down payment requirement and other attractive financing options, including a 5% broker co-op.
"Our ongoing success points directly to the uniqueness and quality found here at Evo," said Rhonda Slavik, Sales and Marketing Director for The South Group. "Buyers are responding because they have finally found a downtown residence that offers everything, from luxury amenities to nearby entertainment options and very realistic pricing. Evo has clearly emerged as the place to be for the many Angelenos seeking downtown living. This sale is a fantastic opportunity for downtown buyers to take advantage of a very rare offer."
Recent federal and state legislative changes have also created appealing conditions for today's home shoppers. New-home buyers can now take advantage of a $10,000 state tax credit and an $8,000 federal tax credit for first-time buyers. According to the California Building Industry Association (CBIA), however, as of April 20 more than 3,600 applicants have filed for the state new-home buyer credit, meaning available funds may run out by mid-summer.
"I have been showing Evo to my clients since the building was announced several years ago, but interest has never been higher than right now," said Sebastian Kim, a local broker who specializes in the downtown market. "Evo is in demand for several reasons, including its stellar location nearby L.A. Live, the resident-exclusive 24th-floor fitness center, the South Group's friendly and very capable sales staff, and the building's unbeatable prices. Many of my clients also gravitate to Evo's new-construction design, which makes it aesthetically superior and greatly increases its homes' resale values."
Sales success at Evo is a tangible sign that consumer confidence does exist in the residential real estate market. Based on the optimal conditions of its location, building design and amenities, Evo is thriving on a legacy built by sold-out Elleven and Luma, its triumphant South Park neighbors. Collectively, Evo, Elleven and Luma - all LEED Certified - create California's largest and most successful green community.
Interested homebuyers may call (213) 622-5400, visit www.LiveEvo.com or stop by the Evo Sales Gallery at 408 W. 11th Street (at Grand).
About Evo
Architecturally stunning and sustainably superior, Evo's sleek and stylish silhouette rises 24 stories over South Park at the corner of 12th and Grand. Condominiums are priced from the low-$400,000s to $3.6 million, with floorplans ranging from 730 to over 3,500 square feet.
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In January 2009, Evo reported the sale and closing of a $3.1 million penthouse, which at the time was the highest price ever paid for a single residential unit in Downtown Los Angeles. But, just three weeks later on February 20, Evo sold and closed its second penthouse for $3.2 million, eclipsing its own sales record and setting a new precedent for success. The second record-breaking penthouse spans 3,973 square feet of living space ($803 per square foot) and offers a 3,500 square foot terrace. Both Evo penthouse residents have requested anonymity.
Evo & the Growth of Downtown Los Angeles
Despite an extremely challenging economic environment, Downtown remains a center of activity. By the end of 2009, more than 200 new businesses - including dozens of restaurants - will have opened here since 2007. L.A. Live will produce an economic impact of $10 billion, creating more than 25,000 jobs and generating $18 million in new annual tax revenues. Evo is just steps from STAPLES Center, red-carpet events at the Nokia Theatre, Club Nokia, The Conga Room and the GRAMMY museum, which are expected to host at least 600 events annually.
"The growing collection of nearby new restaurants, retailers, and basic neighborhood-serving amenities has transformed Downtown into an increasingly vibrant, sustainable and dynamic neighborhood," said Ninth District Los Angeles City Councilwoman Jan Perry. "Both Evo and South offer residents a great location in the heart of downtown and their unique pedestrian-friendly and thoughtful design elements set them apart as a model for future projects. The rising success of Evo and the South Park district, alongside L.A. Live and other nearby projects, signals that downtown is still open for business and that Angelenos are willing to invest in true urban living here in our 24-hour city center."
The South Group
The stability of Evo's developer, The South Group, inspires additional confidence in the area surrounding Evo. The South Group is comprised of Portland-based Williams & Dame Development and Gerding Edlen Development, whose history of innovative and environmentally friendly neighborhoods have bolstered the City of Portland's reputation for smart urban planning. With the completion of Elleven and Luma, The South Group has delivered the first residential high-rises in California to be awarded LEED Gold certification. The addition of Evo's LEED Silver designation makes South the largest green residential community in California.
About The South Group
The South Group is the joint venture partnership of Portland, Oregon-based developers Williams & Dame and Gerding/Edlen distinguished by its innovative, smart growth, environmentally friendly, high-density neighborhood developments. Elleven is the first of a number of projects The South Group plans for an area of the South Park neighborhood, to be known simply as South.
Williams & Dame's leaders, Homer Williams and Dike Dame, represent over 70 years of collective real estate experience. The firm has used an organic approach to urban transformation, collaborating with public and private partners to create unique neighborhoods that blend quality housing, vibrant street life and new business opportunities. Gerding/Edlen's Bob Gerding and Mark Edlen are widely respected for their extensive experience building large scale, mixed-use developments. With a fundamental commitment to building environmentally sustainable structures, the forward-thinking company fosters an "eco-friendly," progressive approach to urban living that consistently sets a new standard in community-based development.
For more information or to join the interest list, visit www.exploresouthgroup.com or call (213) 622-5400.
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