Korean comprehensive construction company Bando Construction has set a new milestone in the U.S. housing market with the success of its mixed-use residential project, ‘The BORA 3170,’ which started in LA's Koreatown.

Located on Olympic Blvd in Koreatown, ‘The BORA 3170’ first debuted with a grand opening last year and has since achieved a high occupancy rate quickly, thanks to its innovative design incorporating Korean living culture and excellent construction technology. Currently, aside from temporary vacancies due to contract expirations and new move-ins, the 252-unit building has achieved 100% occupancy, significantly exceeding the average occupancy rate in Koreatown, drawing much attention.

The key to the success of ‘The BORA 3170’ lies in the strategy of localizing ‘K-living culture.’ The project succeeded by integrating Korean-style living designs into a complex that aligns with the American lifestyle, which values ‘Work & Life Balance.’ Distinguishing itself from typical apartments, it offers an enhanced residential experience with features such as Korean-style flooring installation, dual blinds designed for optimal lighting, sound-optimized interiors, and multi-purpose storage spaces in bathrooms and closets, maximizing the use of space.

Additionally, the building provides a basic ‘built-in system’ of high-quality Korean home appliances (washer, dryer, refrigerator, dishwasher, etc.). State-of-the-art security systems and various community facilities have further elevated the convenience of life for its residents. Security has been enhanced with the installation of over 130 CCTV cameras, the use of modern touch door lock systems instead of traditional key locks, and 24-hour security personnel. The building also offers a wide range of amenities, including an indoor screen golf system, an outdoor swimming pool, a rooftop lounge, a massive fitness center, a club room for parties, and a large café space suitable for group study, making it particularly popular among younger residents seeking a safe and comfortable apartment.

Notably, 70% of the residents at ‘The BORA 3170’ are not Korean but from other ethnicities, showing that the appeal of Korean-style living culture is not confined to the Korean community but is also attracting people from diverse ethnic and cultural backgrounds.

On the ground floor of ‘The BORA 3170,’ popular Korean businesses such as Korean restaurants, a sushi market, and a coffee shop have signed contracts and are under construction. There is also ongoing discussion about leasing the remaining commercial spaces to hospitals, financial institutions, and other businesses.

Chairman Kwon Hong-Sa of Bando Construction remarked, “We conducted thorough market research to integrate the advantages of Korean housing into the U.S., and the differentiated product we offered has been well-received. I feel immense pride and a different sense of accomplishment from what I experience in Korea. We will continue to strive to integrate even better housing cultures.”

Bando Construction broke ground on its second mixed-use project, ‘The BORA 3020,’ on Wilshire Blvd in Koreatown earlier this year, aiming for completion by early 2027. ‘The BORA 3020’ will feature 262 apartment units, consisting of studios, one-bedroom, and two-bedroom units. Additionally, Bando Construction recently purchased an apartment building in Manhattan, New York, to carry out housing improvement projects and acquired the Times Square retail mall, signaling the company’s aggressive expansion into the U.S. market.

By Hwangdong Cho, Reporter

<Hwandong Cho>