Playa Vista, a newly built neighborhood on the west side of Los Angeles, lacks much of what locals consider luxury. There are no estates, sweeping views or movie-star enclaves. Yet houses are selling for over $4 million, and rents are eye-watering.
That is because Playa Vista is in the final stages of its reinvention, providing office space for the biggest names in tech as well as dense, urban-style living for residents. In the fall, Alphabet Inc.’s Google unit will begin moving employees into a 319,000-square-foot office space, adjacent to 12 acres of land the company purchased in 2014. Yahoo , Microsoft , IMAX, Electronic Arts and Alphabet’s YouTube are already there; Facebook leases a 50,000-square-foot space across the street, the company said.