Developers Target Ultra-Luxury Renters in Los Angeles

In a city known for luxuriously appointed and boldly designed single-family homes, an unlikely market for super-deluxe residences is growing. "Over-the-top" apartments attract residents who want an urban lifestyle without a long-term commitment.

1 minute read

December 20, 2013, 9:00 AM PST

By Jonathan Nettler @nettsj


"In a handful of pricey neighborhoods across the city, some apartments are beginning to resemble a cross between a $1-million home and a five-star resort," observes Roger Vincent. "The movement is turning on its head the long-held assumption that wealthy Los Angelenos buy, not rent, their residences."

"Such over-the-top apartments are a small but growing niche in Los Angeles. As recently as five years ago, developers calculated that rents could only go so high before affluent people would opt out and go buy a house instead, real estate broker Mauricio Umansky said." In fact, "super-deluxe" apartments have a heritage in the city, dating back to the "elite residential buildings" that once housed Hollywood's film stars. 

"For the most part, people are looking for affordability when they rent," said Shaul Kuba, a principal at CIM Group, "but there are some people who are interested in experiencing that type of living without a long-term commitment."

Thursday, December 19, 2013 in Los Angeles Times

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

June 25, 2025 - Diana Ionescu

Person wearing mask walking through temporary outdoor dining setup lined with bistro lights at dusk in New York City.

Restaurant Patios Were a Pandemic Win — Why Were They so Hard to Keep?

Social distancing requirements and changes in travel patterns prompted cities to pilot new uses for street and sidewalk space. Then it got complicated.

June 19, 2025 - Diana Ionescu

Aerial view of town of Wailuku in Maui, Hawaii with mountains in background against cloudy sunset sky.

Maui's Vacation Rental Debate Turns Ugly

Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

July 1, 2025 - Honolulu Civil Beat

Aerial view of new neifhborhood under construction with enpty lots in foreground.

In California Battle of Housing vs. Environment, Housing Just Won

A new state law significantly limits the power of CEQA, an environmental review law that served as a powerful tool for blocking new development.

1 hour ago - CALmatters

Low-rise Pearl Sreet mall in Boulfer, Colorado.

Boulder Eliminates Parking Minimums Citywide

Officials estimate the cost of building a single underground parking space at up to $100,000.

2 hours ago - Boulder Reporting Lab

Two-story buildings with porches in walkable Florida neighborhood.

Orange County, Florida Adopts Largest US “Sprawl Repair” Code

The ‘Orange Code’ seeks to rectify decades of sprawl-inducing, car-oriented development.

3 hours ago - CNU Public Square

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.