Creative Media & Community Trust Corporation (CMCT) finished construction of 1915 Park, a 36‑unit, six‑story apartment complex in Los Angeles’ Echo Park neighborhood, on December 2, 2025. The building sits on the former parking lot of the adjacent 1910 W. Sunset office tower and offers studio, one‑ and two‑bedroom units, a rooftop deck, underground parking and bicycle storage. The project was developed under a joint venture with an international pension fund.
The completion of 1915 Park fits into CMCT’s broader strategy to shift toward premier multifamily assets in high‑barrier‑to‑entry markets. The company’s recent financial reports show a decline in overall net operating income (NOI) and a challenging third quarter of 2025, with office and hotel NOI falling while multifamily NOI rose. The new development is a tangible step toward stabilizing the company’s income stream amid these headwinds.
CMCT CEO David Thompson said the firm is “accelerating our focus toward premier multifamily assets, strengthening our balance sheet and improving our liquidity.” He added that the Echo Park project, completed in the third quarter, demonstrates progress toward that goal and will contribute to the company’s long‑term asset quality and cash‑flow profile.
Beyond 1915 Park, CMCT is advancing other multifamily projects in Jefferson Park and Oakland, and it has announced the sale of its lending division for approximately $44 million. The company’s history in Echo Park dates back to a 2022 acquisition of a creative office building, underscoring its long‑term commitment to the neighborhood. The grand opening of 1915 Park is slated for January 2026, with leasing offers expected to begin shortly thereafter.
The development’s completion signals CMCT’s continued investment in high‑quality multifamily properties, a sector that has outperformed its office and hotel peers in recent quarters. While the company faces liquidity challenges, the new asset adds a stable, income‑generating property to its portfolio and aligns with its strategic pivot toward assets that offer resilience in a tightening credit environment. The project’s operational success may help restore investor confidence in CMCT’s ability to execute its long‑term plan.
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