Hankey Capital Updated Santa Monica Housing Design

The firm revised plans for a four-story, 28-unit residential building located at 1238 7th Street.

Updated on Oct. 6, 2026 in Apartments

Bold vector editorial illustration showing a stylized architectural model of a four-story residential building with a central circulation spine. — Hankey Capital finalized plans for a 28-unit residential building on 7th Street in Santa Monica, featuring an updated design with massing breaks. AI Illustration. Upload story photo >

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Hankey Capital has finalized an updated design for a new apartment project in Santa Monica. The residential building will span four stories and house 28 rental units.

Why it matters

The development represents a shift in density for the project, which sits at 1238 7th Street. Hankey Capital acquired the site following a default by the previous owner.

The project at 1238 7th Street features 28 rental units distributed across four stories. The site was acquired by Hankey Capital after the previous owner defaulted.

The players

Hankey Capital

Hankey Capital is a real estate investment firm that manages property acquisitions and residential developments.

Ottinger Architects

Ottinger Architects is an architecture firm responsible for designing the building at 1238 7th Street.

The details

The design features two distinct building forms divided by a vertical circulation spine. Architects incorporated massing breaks, varied materials, and a canopy to define the structure.

The project design was updated in 2026.

Culture Shift

This project reflects a broader trend of urban densification as firms move to maximize the utility of existing parcels. These developments often move away from traditional low-rise structures to meet regional housing needs.

Residents should anticipate increased construction activity on the 1238 7th Street block as the project moves toward approval. The design changes prioritize higher density, which could ultimately influence rental availability in the area.

The takeaway

Developers are increasingly utilizing complex architectural forms to fit more units into constrained urban footprints. This approach allows for greater housing capacity while navigating the challenges of site-specific zoning.