Proposed Megaproject the Latest to Redefine Los Angeles Core James Brasuell Michael Lewyn Dan Kaplan James Brasuell
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Proposed Megaproject the Latest to Redefine Los Angeles Core
A proposed $2 billion megaproject would expand the footprint of the ongoing reinvention of Downtown Los Angeles and its surrounding neighborhoods. April 30, 2021, 8am PDT | James Brasuell |
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Blows to businesses during the pandemic have deadened the streets of downtown Los Angeles and threaten long-term changes to office life, but builders are pressing ahead with major projects in the belief that the city still has a lot of room to grow as times get better.
An Arts District cold-storage plant dating to the 1890s would be replaced with housing, offices, a hotel and shops in a proposal unveiled Thursday by Denver developers. With a price tag between $1.5 billion and $2 billion, the complex would rank among the largest L.A. commercial real estate developments in recent memory.
Continuum Partners launched the city approval process for a 10-building project that includes a residential skyscraper at Central Avenue and 4th Street, a historically industrial neighborhood dotted with art galleries, apartments and buzzy restaurants that has become increasingly attractive to tech and entertainment companies including Apple TV, Sony and Warner Music.