Construction Under Way on Third Park Place Building

Construction is under way on the third building of the $150-million, 432-unit Park Place condominium development in Century City, according to Bernard Burger, president of Watt Luxury Housing, the developer.

Sales are nearing the $30 million mark, with 80% of the units in the first building selling while the low-rise structure was still in the framing stage, he added. Units are available in five two-story floor plans and are priced from $277,000 to $385,000.

“Although several high-rise condominiums have had sluggish sales in recent years, that has not been the case at Park Place,” according to Ray Watt, chairman of Watt Industries Inc., the Santa Monica-based parent firm of Watt Luxury Housing. The development is at 10101 Galaxy Way, between Avenue of the Stars and Century Park East.