First Look at Awesome CRE Projects in the Arts District
The Arts District has become one of the trendiest areas in Los Angeles. This neighborhood has a storied past and is making history due to its current developments. Once home to industrial warehouses, such as the Ford Motor plant, it is now becoming a neighborhood of trendy restaurants, coffee shops, breweries, creative office space & upscale apartments. In this article, we will take a look at some of the projects that are currently under construction and what is planned in the burgeoning area. A lot of the projects planned include mixed-use space, including a mix of multifamily, creative office & retail.
Projects Under Construction:
950 E 3rd St. - Mixed-Use Building
Urbanize LA
Fairfield Residential and Legendary Development are behind the $215 million project that is currently under construction. By the time it is completed, it will have 472 multifamily units and 22,000 sq. ft. of ground floor retail. It will be located near 3rd St and S. Santa Fe Ave., near the Southern California Institute of Architecture & One Santa Fe – the preeminent multifamily development in the Arts District. The project should be partially completed by December 2017.
555 Mateo St. – At Mateo – Mixed Use
At Mateo
Named for the street on which it will be located, At Mateo is a new mixed project by Blatteis & Schnur and ASB Real Estate Investments. Under construction is a two story building with 15-foot ceilings and is the only new-construction office project currently under construction in the Arts District. At Mateo will be comprised of ground floor retail/restaurants and second floor office space. It is expected to open in March 2017, according to The Real Deal.
500 S. Santa Fe Ave. – The Santa Fe Business Center
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The Santa Fe Business Center will have 100,000 sq. ft. of office space with rooftop deck and parking for 199 cars when it is completed. The site is in between the 4th Street Bridge (bordered on the north) and the Lucky Brand Jeans headquarters building (bordered on the south). Local CRE firm, Chalmers Equity Group, are the developers of the project.
Proposed Projects:
2130 E. Violet St. – 9 Story Mixed –Use Building
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At 9 stories tall, this is currently the tallest proposed project in the Arts District. If approved, it will be built on a .75 acre site. The mixed-use project would have more than 90,000 sq. ft. of office space, 6,000 sq. ft. of retail and 274 parking spaces. As it is located in an industrial area, developers of the mixed-use property would have to apply for discretionary approvals from the city. Also, sidewalks would have to be added on Violet St, which is currently home to recycling plants, produce warehouses & textile companies. Lowe Enterprises, the owner of the E. Violet property, is currently developing the Garey Building – a $100 million project on E. 2nd Street, just a short drive away.
520 Mateo St. – Live/Work Condos – Mixed Use
Google Street View
An industrial property currently occupies 520 Mateo, but if approved the project would be demolished to make way for 600 live-work condos and approximately 60,000 sq. ft. of commercial space. If approved, the development would be the largest multifamily project in the Arts District so far, exceeding the number of units of One Santa Fe (438 units).