Virginia-based Harbor Group International is raising its bet on Los Angeles, investing $24.3 million in to the Silicon 

Beach Live Apartments.

Work on the Westside development is expected to begin later this year.

Once completed, the property will have 176 units. Amenities will include a pool with cabanas, a yoga room, a gym and a game room.

“As we witness the ongoing expansion of many technology giants and industry elites to West Los Angeles, Playa Vista has become the epicenter of Silicon Beach, bringing jobs, new development and a highly educated workforce to live in this market,” Matt Jones, director of acquisitions of Harbor Group International, said in a statement.

The complex is being developed by Sherman Oaks-based Sandstone Properties Inc. Other Sandstone properties include the Variety building at 11175 Santa Monica Blvd., 881 Alma Real Drive in Pacific Palisades and 14724 Ventura Blvd. in Sherman Oaks.

Future developments from Sandstone include The Jeff, a 175-room hotel at 11469 Jefferson Blvd. in Culver City and The Albany at 1330 W. Pico Blvd., an industrial building downtown that will be turned into a hotel with bars and restaurants.

Silicon Beach Live Apartments is Harbor Group’s third investment in California this year.

In June, the company took a $3.25 million stake in a 60-unit multifamily property in West Hollywood. The property was purchased by an affiliate of Concord Capital Partners Inc. for $17 million.

Harbor Group President Richard Litton Jr. told the Business Journal at the time that the company would invest in more apartment buildings in the area and was also interested in office buildings with stabilized rents and long leases.

Harbor Group’s other investment in the state was in a San Francisco property.

The company opened an office in L.A. in 2018 to drive expansion on the West Coast.