Disclaimer: This is a monthly summary of Los Angeles commercial construction news curated by H.W. Holmes, Inc. We will cover recent commercial construction projects and news pertaining to Los Angeles, Ventura, and Santa Barbara counties. We have no association with any of these developments unless specifically stated.
CONSTRUCTION BEGINS FOR MIXED USE CULVER CITY DEVELOPMENT
Construction is underway for a retail and office complex in downtown Culver City called Culver Steps.
A groundbreaking ceremony was held on November 8th for the four-story complex, which will sit next to Trader Joe’s and the Culver Hotel. Developers are promoting this mixed-use development, which features public open space, as a walkable urban hub for shopping and dining. It is slated to open sometime in 2019. There will be 40,000 square feet of retail and restaurant space and the 35,000 square foot public plaza.
Read: “Culver Steps: Big downtown Culver City development will be walkable ‘urban hub’” from Curbed LA
ARTS DISTRICT BOOM DRIVES DOWNTOWN LOS ANGELES GROWTH
BISNOW recently reported that Los Angeles is now second to Seattle for most commercial construction projects in the U.S. Now a new report from Ernst & Young projects that LA is positioned for continued growth for years to come.
The report notes the surge in DTLA commercial construction projects ranging from renovations and adaptive reuse projects at historical properties to the new ground-up construction of mixed-use developments. Particularly the proposed developments set for the Arts District in Los Angeles. Undeveloped parcels in this section of the city are very reasonably priced. Plus, the revitalization along the Los Angeles River and city’s continued investment in the Arts District by way of improvements to infrastructure and public transportation bode positively for continued development these next few years.
DEVELOPER EYES MOONPARK LOT192 High Street is back in the news. Back in June, Apricot Lane Farms dropped its plans to revitalize the lot with a micro-brewery, restaurant, and market. Red tape at City Hall was cited as their reason for doing so.
Now the Westlake Village-based real estate development firm the Daily Group Inc. has moved in on the lot. The developer is looking to reinvigorate High Street with a mixed-use development.
Although mixed use properties are popular throughout the country and have been built in Thousand Oaks, Ventura, and Camarillo, this would be the first mixed-use property in Moorpark.
On November 1st, Moorpark City Council unanimously agreed to give the Daly Group six months of exclusivity. This means no other development proposal for the lot can be pursued by the city.
The hope is that more mixed-use development will surface in Moorpark if the Daly Group succeeds with the High Street property. The abandoned storefronts along Los Angeles Avenue would be ideal for housing developers if rezoned.
Read: “Developer Eyes High Street Lot – Wants to Make Mixed-Use Project”
from the Moonpark Acorn
MORE NEW PROJECTS GOING UP IN DTLA’s ART DISTRICT
There seems to be a trend in regional commercial construction news this month. That, of course, is the booming Los Angeles Arts District. Development within the district and its surrounding areas continues. At the center of this development are mixed use spaces with creative office, retail, and housing. BISNOW recently took a look at several of these Arts District projects: