Los Angeles-based developer Gelt, Inc. has broken ground on a residential-retail complex adjacent to the L.A. River in the San Fernando Valley.

The project, known as Watermark, is located on an approximately 2.5-acre site at 6611 N. Reseda Boulevard.  Plans call for a six-story structure that will feature 254 rental apartments and approximately 7,700 square feet of ground-floor retail and restaurant space.

The contemporary podium-type building, designed by The Albert Group Architects, gradually pares down into smaller townhouse style units facing an abutting single-family zone.  Open space amenities include a courtyard-level garden and swimming pool, as well as a small roof deck facing Reseda Boulevard.

Work began at the project site in February, and excavation is currently underway for the property's underground parking structure, according to architect Steve Albert.

The project is Gelt's first ground-up development in the Los Angeles area, and will be followed by a similar project at Reseda and Clark Street in Tarzana.