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DTLA LIFE MAG

®

#35 | JANUARY 2018

2018 ANGELS LANDING

ULTIMATE PENTHOUSE MUSEUM OF FAILURE MONUMENTAL WORLDS KAREN HABEBE NORDSTROM RACK NEW BOWLS STAY IN’ PARIS MINDVALLEY

DTLALIFEMAG.COM


2018

DTLALIFEMAG.COM


DTLA LIFE MAG

#35 | JANUARY 2018

1000 S GRAND AVE #100 LOS ANGELES, CA 90015 (888) 788 DTLA (3852)

dtlalifemag.com Publisher, Editor in Chief & Realtor ® Alex LiMandri alex@dtlalife.com CalBRE 01822666 (213) 447 4080

Senior Editor Catherine Doherty Contributing Editors Jim White - Community Petra Wright - Art Lori Tierney - Lifestyle Margalette Audion - Fashion Nima Mirzai - Sport Garrett Torres - At Large

DTLA LIFE | Magazine! ® is a registered Trademark All Rights Reserved. Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals. MLSPLUS™ Copyright © 2017 by TheMLS™. Information deemed reliable but not guaranteed. Presented by: Alex Limandri CalBRE#:01822666 | DTLA LIFE is powered by BIG BLOCK REALTY. DTLA LIFE MAG is an independant entity that is not intended to be representing properties. DTLA LIFE MAG is only reporting information provided by diferent parties for marketing purposes. We are not responsible for any information we publish on behalf of the businesses represented.


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rom all of us here at DTLA Life, we wanted to wish you a wonderful new year! We are sincerely looking forward to where 2018 will lead us. We can’t wait to rekindle old friendships and form new ones. But the new year looks bright for more than just us here at DTLA Life. Downtown Los Angeles is continuing to grow and flourish and as new and remarkable locations open up, from fine dining to unique shops and boutiques, from the coolest hang out places to the most sought-after places to live. And through it all, DTLA Life will be there to keep you informed and up-to-date with all the best that Downtown LA can offer. So have a wonderful and successful new year, and we look forward to seeing you out there, in the greatest city on earth.

Alex LiMandri Editor-in-Chief Realtor ® CALBRE 01822666

DTLA LIFE

NEW REAL ESTATE OFFICE ® NOW OPEN AT: 1000 South Grand Avenue #100 Los Angeles, CA 90015 (888) 788 DTLA (3852) alex@dtlalife.com www.dtlalife.com


HAPPY NEW YEAR

DTLALIFEMAG.COM


N.Y.E. L.A.

Photos Courtesy of the Music Center


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os Angeles once again made global headlines as it rang in the new year. Angelenos joined together with their friends and family to share their dreams and dreams and aspirations for 2018 at the Grand Park + Music Center’s 5th annual New Year’s Eve Los Angeles (N.Y.E.L.A.) The party took place from 8:00 p.m. on December 31, 2017, to 1:00 a.m. on New Year’s Day and covered 90 acres in central downtown, hosting more than 50,000 people. The evening included N.Y.E.L.A. signature countdown along with a new digital dance zone that transformed the audiences’ dance moves into larger-than-life images projected onto the side of the County Hall of Records building. A brilliant visual spectacular, this year’s countdown also boasted 3D digital mapping projections that transformed the west-facing facade of City Hall, enveloping the iconic building with a dance party motif along with silhouetted figures that lead the audience in synchronized dance moves.


Photos Courtesy of the Music Center Photos Natalia Knezevic


Photos Courtesy of the Music center


The countdown and projections were created and designed by Garson Yu, artistic director, and his Emmy award-winning design agency yU+co, who also developed the displays for the previous three years. In Grand Park, N.Y.E.L.A featured two performance stages with live music, DJs, and dancing throughout the night, and a digital dance zone. Partygoers experienced a wide variety of musical performances throughout the evening on two stages. The Countdown Stage, hosted by D’Lo and headlined by the Dexter Story All-Star New Year’s Eve Band, featured some of L.A.’s influential, soulful voices, including Raquel Rodriguez, Jimetta Rose, Kenneth Crouch, Chris Pierce, Kam Talbert, and many other of LA finest artists. On the Get Down Stage was Los Angeles’s world-renown turntablist and party-rocking crew The Beat Junkies, featuring DJ Babu, DJ Mr. Choc, and DJ Shortkut. And staying in touch with the soul of Los Angeles, guests had access to 60 food trucks, having their pick of the best food options from throughout Los Angeles County. The vast selection included Belly Bombz, The Queso Truck, The Deli Dr., Cousins Maine Lobster, Cocina Fresca by Mangia, India Jones, The Surfer Taco, The Paradise Truck and The Pudding Truck, among others. For more information about Grand Park + The Music Center’s N.Y.E.L.A., please visit grandparkla.org/nyela or musiccenter.org/nyela.

GRAND PARK 200 North Grand Avenue Los Angeles, CA 90012 www.grandparkla.org


Renderings Courtesy of MacFarlane Partners

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ANGELS ANDING


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ngels Landing Partners LLC, is 100% minority-owned team comprised of the Peebles Corporation, MacFarlane Partners, and Claridge Properties. It has been selected by the City Council of Los Angeles, California to manage the development of the coveted Angels Landing Site, and will build the tallest building in the Western US designed by renowned Handel Architects. “Our team is inspired by the opportunity to transform the LA skyline with our iconic building, enhance residential life and change how large buildings are constructed by ensuring all residents and businesses receive equal access to career and business opportunities. We look forward to working with the City of Los Angeles, Councilmember Jose Huizar and the Chief Legislative Analyst, Oscar Ixco,” said Don Peebles, Chairman, and CEO of the Peebles Corporation. The team’s approach to developing the 2.24-acre site at Fourth and Hill Streets has an estimated total budget of $1.2 billion with a construction phase expected to run for 41 months with completion in late 2024. Victor MacFarlane, Chairman and Chief Executive Officer of MacFarlane Partners, said, “Having invested in downtown Los Angeles for the past 15 years, we are firm believers in DTLA.” Ricardo Pagan of Claridge Properties commented, “We thank the city of Los Angeles for entrusting us with the future of Angels Landing.” Handel Architects and OLIN plan encompasses two towers and will deliver approximately: • • • • • •

192-key SLS and 289-key Mondrian hotels (operated by SBE) 425 apartments, including affordable housing 250 condominiums Nearly 45,000 SF restaurant / retail space An elementary charter school serving K through Grade 5 +50,000 SF publicly accessible open space, including a 25,000 SF “Angels Terrace” outdoor area • A food hall incorporating local businesses We are looking forward to seeing this fantastic tower reaching the sky very soon.

For more information about the project, please visit: www.macfarlanepartners.com www.peeblescorp.com www.claridgeprop.com


Renderings Courtesy of MacFarlane Partners


Photos Courtesy of Onni Group

U PENT


ULTIMATE THOUSE


Photos Courtesy of Onni Group


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s the most expensive luxury penthouse rental in Los Angeles, the prestigious 18,000 sq.ft. residence at LEVEL Furnished Living is marking downtown LA as a highly-coveted residential district. The sprawling four-bedroom, ten bathroom penthouse sits atop LEVEL’s 34th and 35th floors, with 13-ft floor to ceiling windows offering sweeping, 360-degree views of all of Los Angeles. The well-appointed and fully-furnished residence also boasts a lavish, oversized walk-in closet attached to the master bedroom, two formal dining rooms, an oversized living room, family room, lounge with a full bar set up, and four separate kitchens – each equipped with gourmet Wolf and Sub-Zero appliances. Prominently wrapping this spectacular home is 8,000 sq.ft. of unparalleled outdoor living space. An entertainer’s dream, several unique features elevate the residence from luxury to indulgent. On the main level, two temperature-controlled wine rooms are on display behind 10-ft glass walls, holding more than 1,000 bottles of wine. A media room with automated projector screen provides plush seating for fifteen guests; perfect for private screenings. Stunning interiors by renowned designer Robert Bailey blend the elegance of natural stones, such as limestone and marble, with the warmth of walnut, ash, and oak. Contemporary glass, metal accents, and meticulous details complete the home’s opulent character. Expansive window walls maximize natural light and sweeping views, stylish artwork adorns interior walls, and luxurious custom furniture perfectly complements every room throughout the home. On the 35th floor, residents enjoy a private 50-ft rooftop pool with a sundeck, twelve-person hot tub, steam room, as well as an outdoor dining area for fourteen, BBQs, a fire pit, and lounge area. Luxury extras include butler services, a 24-hour front desk concierge, valet and individual assigned parking, housekeeping services, preferred rates at LEVEL DTLA for friends and family, in addition to access to LEVEL’s 37,000 sq.ft. of residential building amenities. Ideally located in the central South Park district, LEVEL is a short walk to The Staples Center, LA Live, the Historic, Fashion, and Financial Districts, numerous upscale restaurants, bars and lounges, galleries and museums, as well as a Whole Foods grocery store.

LEVEL PENTHOUSE 888 South Olive Street Los Angeles, CA 90014 www.dtlalifemag.com/ultimate-penthouse


Photos Courtesy of Onni Group


MUSEUM OF FAILURE Photos Courtesy of Penguin Vision Photography


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Photo Finfer PhotosCinnia Courtesy of Penguin Vision Photography


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his winter, corporate flops are showcased when the Museum of Failure comes to Los Angeles. Don’t let the name fool you. The Museum of Failure is a celebration of history’s failed products & services and the lessons learned from them. Exhibited at the A+ D Architecture and Design Museum in the Los Angeles Arts District, the Museum of Failure welcomes visitors to enjoy an experiential journey of failures-past since December 2 and will run until February 04, 2018. The Museum of Failure treats its visitors to a shrine of history’s epic fails by some of the world’s best-known companies. Marketing catastrophe that was Bic for Her? Yup. The two-wheeled, self-balancing transport innovation, Segway? Better believe it. These, along with artifacts spanning from the 17th century right up to the present day, including the frozen beef lasagna by Colgate, demonstrate the types of failures the museum will showcase. Other highlights include the hula chair (just envision it), one of Apple’s few unsuccessful devices, the Newton, and even President Donald Trump’s version of Monopoly from 1989 made the cut. With surprise Instagram moments all around, the museum is a family affair with failures for everyone from nine to 90. First displayed in Sweden, the collection of 100 plus failures was initially conceived by psychologist and innovation researcher, Dr. Samuel West, as part of his research on corporate success and innovation. When he discovered that 80-90% of industries’ projects fail, West felt the untold stories of failures and the lessons within them did not get their deserved attention. “At large, as a society, we are too obsessed with success and underestimate failure,” says West. “I started the Museum of Failure out of frustration -- it’s time we accept failure, learn from it, and truly achieve progress. I am thrilled to bring the hilarious, yet impactful memories of these colossal flops to Los Angeles.” The Museum of Failure will be on exhibit in Los Angeles until February 4, 2018. For more information on the Museum of Failure and to purchase tickets, visit: www.failuremuseum.com.

MUSEUM OF FAILURE 900 East 4th Street Los Angeles, CA 90013 www.failuremuseum.com


MONU W

Photos by Charles Lenoir, image courtesy Arts Brookfield


UMENTAL WORLDS


Photos by Charles Lenoir, image courtesy Arts Brookfield


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ords carry meaning, shape communities, and create pop culture, and world-renowned artist Laura Kimpton is bringing them to life with Monumental Words in the heart of DTLA at FIGat7th! The exhibit of oversized sculptures (six and 12-foot to be exact) will be presented for three months and will include XOXO, LOVE, and #. The display will light up the city on the shopping center’s plaza throughout the holiday season and into 2018. Monumental Words, which debuted at the 2015 Burning Man Festival, provides a simple yet artistic way of expressing and sharing positive vibes. The sculptures are the mustsnap, selfie moment of the holiday season. Visitors can spread love to family and friends near and far while doing their holiday shopping, or grab a bite to eat at one of the many chef-driven eateries at TASTE Food Hall. This exhibit brought to you by Arts Brookfield, the leading purveyor for public art initiatives in downtown Los Angeles, debuted on Monday, November 20 and is on display through Valentine’s Day, ending on February 17. A free exhibit that would light your holiday shopping.

MONUMENTAL WORLDS 735 South Figueroa Street Los Angeles, CA 90017 www.artsbrookfield.com/event/monumental-words/


KAREN HABEBE


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Margalette Production

by Margaletteproduction@gmail.com / Insta: @Margalette Photographe : Georgina Reskala www.ooshot.com/georgina-reskala Worldwide Artist /Model : HABEBE aka Karenbe www.habebe.rocks / Insta: @Habebe.rocks

Make up artist : Charlotte Prevel www.charlotteprevelmakeup.com / Insta: @charlotte_prevrel


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ranscending borders & cultures, Karen Be comes from a home where Arabic, French, and English danced, where elders called out in Caribbean accents; her childhood dreams were sung in strings of languages. She’s traveled the globe, and the souvenirs she’s collected dangle from her gypsy jungle sounds like sparkling gems. Karen Be’s songs are inspired by Love, Fire, Beauty, Nature, Life, and Freedom. Live, her sound is richly textured. She becomes percussion through breath, plucked strings and sinking keys. Her treasure chest of instruments, effects pedals, loop stations, and sultry harmonies all bear exotic fruit. The Harvest is sweet. Her influences are vast and varied. Mozart, Chopin, J Dilla, David Lynch, Bjork, Nina Simone, Fairuz, Skip James, Paul Gauguin, Chet Baker, Velvet Underground, Prince, CocoRosie, Charles Baudelaire, Whispering Smith, Avi Kiriaty, and Flying Lotus, amongst many others. Karen Be has played at venues all over the globe, such as Fete de la Musique (Beirut), Ambrosia Lounge (Maui), Mondialo (Paris. Karen Be now brings her unique brand of jungle soul to the UK, already warming crowds at Favela chic, Gramophone, Troy Bar, and the Haggerston, to name a few. She remembers her first time in Downtown LA was at her pop up shop, Haru-HaBebe, two years ago at the BOLD Gallery across from the Ace Hotel. It was so magical for her to be here for a week surrounded by her art. She loves DTLA’s diversity of people & architecture. She finds it inspiring and soul filling, full of amazing human stories. She would be inspired to direct a movie about it with David Lynch or write a book like James Joyce Ulysses but ‘Juicer.’ She enjoyed the galleries, eating Oysters at the Watergrill and wonder what happened to the affordable artist warehouses from not so long ago. A Downtown lover that we sincerely want you to discover through her spectrum of talents.

KAREN HABEBE by Mamz’elle Margalette Paris Stephanie Margalette Audion margaletteproduction@gmail.com


NORD Photo Courtesy of Nordstrom


DSTROM RACK


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n Wednesday, October 25th, a VIP event was held to celebrate the Grand Opening of Downtown LA’s Nordstrom Rack in the FIGat7th center. The 27,000 square feet store offers great fashion brands with significant savings up to 70% off. Nordstrom Rack is a favorite for so many shoppers and a fantastic addition to the neighborhood shopping experience. Nordstrom Rack first opened in the basement of the Seattle Flagship store in 1973. As Nordstrom expanded across the country, Nordstrom Rack followed, and we are glad it did here in Downtown Los Angeles. FIGat7th is definitely Downtown L.A.’s premier, open-air shopping, dining, and entertainment destination. Home to H&M and Zara flagship stores, Bath & Body Works, Target, and more, as well as a first-class collection of unique eateries to delights fashionistas and foodies alike.

NORDSTROM RACK FIGat7th 735 South Figueroa Street Los Angeles, CA 90017 www.figat7th.com


Photo Courtesy of Brookfield


BACKYAR BOWLS


RD Photos Courtesy of Backyard Bowls


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ackyard Bowls is a revolutionary eatery specializing in acai bowls, hot porridges, smoothies, and much more. We provide a healthy, delicious, and fast meal option for the people of our community while striving to minimize our global impact and promoting a more conscientious form of business in general. When you choose to dine at BYB, you will leave feeling ready to go outside and play, as opposed to the all too familiar feeling of being prepared to go home and take a nap. And you will be at ease, knowing that your decision not only was a personally healthful one but one that cast a vote for a better world at large. And as a bonus, it will have been a whole heap of fun to eat. When Backyard Bowls opened their doors in downtown Santa Barbara in 2008, they were quite literally the first of their kind. Having developed a love for the Acai Bowl during a stint living in Hawaii, founders Pete and Dan combined that passion with their appreciation for quality food in general, their affinity for living an active, healthy lifestyle, and their understanding of the environmental impacts of our food choices. What resulted was an entrepreneurial seizure that birthed an entirely new genre of restaurant, and ultimately a delightful alternative for breakfast or lunch. At BYB we work to maintain a company culture that is an authentic representation of our values and our vision for the world in which we want to live. It’s a matter of caring. We genuinely care about the integrity of the foods we serve. We care about the merits of organic, sustainable, and locally produced foods. We care about preparing food that makes you feel good, and food that we believe to be beneficial to your body. We care about our employees, our community, and the preservation of our environment. We care about a whole slew of things, but possibly most of all we care about serving the best damn bowls in the world and providing our customers with a truly unforgettable experience.

BACKYARD BOWLS 801 South Hope Street Los Angeles, CA 90015 www.backyardbowls.com


Photos Courtesy of Backyard Bowls


BODHI BOWLS

Photos Courtesy of Bodhi Bowls


Photos Courtesy of Bodhi Bowls


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hey inspire people to choose a healthier, greener, more compassionate lifestyle through plant-based eating. They are a 100% vegan restaurant owned and operated by 100% vegans! They specialize in grain bowls, salads, sandwiches, and soups. They cook and sell food that they like to eat, that is familiar with their history and their customers, and present it in a way that will excite and surprise their guests. Everything they create is 100% vegan and naturally cholesterol free. They believe in the health benefits of a plant-based diet and promote a plant-based menu within the community. They envision a world where people think critically about their food choices, where growing numbers of businesses, community groups, and organizations inspire people to make healthier, greener, more compassionate decisions, and where nutritious, sustainable plant-based foods are accessible to all.

BODHI BOWL 645 West 9th Street Los Angeles, CA 90015 www.bodhibowlla.com


STAY IN’ LE ROCH PARIS


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Photos Courtesy of Roch-Hotel


Photos Courtesy of Roch-Hotel


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e Roch Hotel & Spa is ideally located a short walk from Opera Garnier and the Tuileries Gardens, away from the hustle and bustle of the busy Saint-Honoré neighborhood, embodies the Parisian style. Le Roch Hotel & Spa is the latest intimate trendy boutique destination on Rue Saint-Roch. A member of Design Hotels and the Compagnie Hôtelière de Bagatelle’s most recent addition, Le Roch Hotel & Spa has become the preferred destination for travelers who want to enjoy an authentic Parisian experience as if it were a perfect getaway to your home away from home.


Photos Courtesy of Roch-Hotel


Photos Courtesy of Roch-Hotel


Le Roch Hotel & Spa promises you some time out in an elegant and quiet setting, with a restaurant offering a menu developed by the young, Chef Arnaud Faye, - 2 stars in the Michelin guide and four toques in the 2016 Gault et Millau. A bar, a sunny terrace, an indoor pool which benefits from natural daylight - a unique feature for Paris. A stay at Le Roch Hotel & Spa offers the perfect opportunity to feel the city’s vibrations at the center of where life is in full swing, and benefit from the experience of a peaceful hotel in a luxurious setting. After a spa treatment, relax by the pool, only accessible by Le Roch Hotel & Spa’s guests. Swim under the waterfall to access the steam room covered with black mosaics. Everything has been done to please well-traveled guests. Highly recommended for your next escape to Paris.

LE ROCH HOTEL & SPA Cosy Room from 350 Euros/n 28, Rue Sait-Roch 75001 Paris, France www.leroch-hotel.com


Photos Courtesy of Roch-Hotel


MIND BLOWING EVENTS


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Photos Courtesy of Mindvalley


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his past November, I was lucky enough to meet with around 350 attendees from over 50 countries around the world in Montego Bay, Jamaica to experience a life-changing invite-only transformational gathering, A-Fest by the disruptive educational platform Mindvalley. The event focused on the theme of Enhanced States of Consciousness and brought some of the most admired and influential consciousness experts in the world to show guests how to unlock peak performance through technology, neuro-training, meditative practices and altered states. One standout moment from the event included hundreds of guests taking an ice bath at the venue with the legendary Wim Hof, which Mindvalley / A-Fest founder Vishen Lakhiani called “The greatest moment from across any Mindvalley produced the event.” This included an appearance by Devon Harris, the team captain of the famed original Jamaican Bobsled team. In a move that underscores the objectivity central to Midvalley’s success, the stage was graced by best selling author of Stealing Fire and unabashed materialist Stephen Kotler just moments before Gelong Thubten, a Buddhist Monk sharing mindfulness and meditation techniques. Attendees also got the chance to learn from respected teachers like Marisa Peer, Lisa Nichols, Jon and Missy Butcher, Vishen Lakhiani, and more to ensure Mindvalley’s online learning platform was well-represented. A-Fest guests also got the chance to visit a Rastafarian community to learn the local arts and culture scene, rode catamarans on the sea, and had a closing ceremony at Good Hope Great House, a historical property of beauty and magnificence. Other highlights included costume parties where attendees got the chance to dress up in their unique ways and connect with fellow guests. Mindvalley is a learning experience company that publishes ideas and teachings by the best authors in personal growth, health and fitness, spirituality, productivity, mindfulness and more – serving three million students, subscribers and followers worldwide. Through their digital education platforms, online academies, mobile apps, content platforms and live events, Mindvalley give you access to transformational knowl


Photos Courtesy of Mindvalley


Photos Courtesy of Mindvalley


edge that empowers you to expand your boundaries, unleash your potential and lead an extraordinary life – on your terms. For the wannabe spiritual mind that I am, it was the perfect experience to discover more about my potential and the potential of others around the world. Mixing learning spiritual meanings with fantastic travel and parties is the perfect combination to blow your mind. The next A-Fest is set to take place in Sardinia, Italy from May 30 - June 4, 2018. With a theme on longevity, it’s no coincidence that the event is held in a “Blue Zone” (An area known for its abnormally high average age of living). Mindvalley will also be hosting their second Mindvalley Reunion event in San Diego from February 24 - 25. Additionally, the second edition of Mindvalley U will take place in Tallinn, Estonia from June 28th – July 22nd, 2018, which will bring Mindvalley speakers together with members of the community to experience a unique educational event for almost a month.

A FEST MINDVALLEY www.afest.com www.mindvalley.com


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MELISSA MEIER SKINS by

Petra Wright

Photos Courtesy of GDCA Gallery


Photos Courtesy of GDCA Gallery


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razilian artist Melissa Meier is internationally recognized for her evocative 3-Dimensional Installations, Found-Object Sculptures, Collages, and Photography. In her current series “SKINS,” Meier has created sculptural clothing hybrids, utilizing natural materials such as leaves, stones, fur, scales, sticks, feathers, and shells. Inspired by Brazilian Carnival and Native American skin-walkers, her wearable constructions blend female empowerment with a self-created mythology, developed around the idea of ancient cultures of female warriors, exemplifying strength, beauty and unity of life lived in harmony with the elements. Her warrior women are breathtakingly sensual while radiating a searing combination of purity and power. Meier states, “At first I was inspired by the legends of indigenous people and how they used the skins of animals to transform into them, creating a bridge between the human and animal worlds. But as my work matured, I became equally interested in the future of fashion as an extreme form of kinetic sculpture.” The costumes are developed into moveable, wearable sculptures that are brought to Life as performance artworks, serve as independent sculptures and in their final documented form as limited edition Archival Fine Art Photographs. The work creates a bridge to the present and allows us to connect with and find ourselves reflected in her images of hidden, treasured cultures, heroines and spirit guides, imagined and real. Seven of Meier’s mythology series photographs, as well as selected sculpture/constructions, will be on view in her solo exhibit “SKINS” at GDCA Gallery January 6th – 31st, 2018. For more information, please contact the gallery at (323) 309-2875 or via email at Petra@GDCAgallery. com.

GDCA GALLERY 727 South Spring Street Los Angeles, CA 90014 www.gdcagallery.com


1000 GRAND BY WINDSO Photos Courtesy of Windsor properties


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elcome to 1000 Grand by Windsor. A supreme location now open in the heart of Downtown L.A., 1000 Grand’s new studio, one- and two-bedroom apartment homes feature a modern twist on contemporary apartments, offering the ultimate urban living experience. Located in DTLA, with easy access to I-10 and I-110, 1000 Grand by Windsor is just steps away from LA Live and Staples Center, as well as all of the shopping, dining and entertainment that nearby Beverly Hills has to offer.

1000 GRAND BY WINDSOR 1000 South Grand Avenue Los Angeles, CA 90015 www.1000grandbywindsor.com


Photos Courtesy of Windsor properties


DTLA Q3 REPORT


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ational brands and creative/tech companies continue to flow into Downtown LA according to Downtown Center BID 20-17 Q3 Market Report. The announcements Include Adidas and Vans and the Relocations of Architect Jerde Partnership from Venice, Bullitt Studios from West Hollywood, and Advertising Tech Firm Gimbal from Santa Monica. The Los Angeles Downtown Center Business Improvement District (DCBID) released its 2017 Q3 Market Report today, revealing the increasing drawing power of DTLA, as a growing influx of leading brands and corporations from around the city make their home in DTLA, announced Nick Griffin, Vice President of Economic Development for the DCBID. In the third quarter alone, long time Venice based architecture firm, Jerde Partnership, along with Bullitt Studios from West Hollywood, and advertising tech firm Gimbal from Santa Monica, have all selected DTLA as their future home. Joining them are Adidas and Vans who announced new DTLA office and retail locations respectively, while Nordstrom Rack, H&M’s fashion brand COS, and Sweetgreen restaurant all celebrated Q3 openings. One of the big draws for these businesses has been DTLA’s explosive residential population that now sits at approximately 65,000 and shows no sign of slowing. In the third quarter, DTLA saw the delivery of 1,380 apartments bringing the 2017 total to more than 2,700, setting a new annual record. Despite the additional space, rental rates continue to hold steady, even increasing a couple of percentage points. According to Griffin, “When you look at the DTLA skyline, and you see all these construction cranes, second only to Seattle, you naturally wonder how you are going to fill all those new units. But time and time again, driven by the dynamic appeal of DTLA and its eclectic mix of dining, shopping, entertainment, and living opportunities – businesses, retailers, and residents continue to come and demand even more.” “As the Renaissance charges towards its third decade, DTLA is indisputably the heart of Los Angeles – the market that drives fashion, dining, entertainment, and more” he added. Please have a look at the full DCBID Q3 2017 Market Report in the next pages, or view it at https://goo.gl/Xiu8QK.

DOWNTOWN CENTER BUSINESS IMPROVEMENT DISTRICT 600 Wilshire Blvd, Suite 870 Los Angeles, CA 90017 downtownla.com




THIRD QUARTER, 2OI7

DOWNTOWN LA

MARKET

REPORT

Photo by Hunter Kerhart


Q3 2017 MARKET REPORT

ABOUT THE DCBID Founded in 1998, the Downtown Center Business Improvement District (DCBID) is a coalition of nearly 1,700 property owners in the central business district, united in their commitment to enhance the quality of life in the area. The organization has been a catalyst in the transformation of the Downtown Center District, turning it into a vibrant 24/7 destination. The mission of the Economic Development team is to improve and revitalize the District, and bring investment and new businesses to the area. We provide services to current and prospective residents, workers and businesses, including: • Development Consulting • Research and Information Requests • Events and Marketing • Monthly Housing and Office Tours • Customized Tours and Reports Whether you need information on new development, introductions to local decision-makers and influencers, or you just want to learn more about Downtown’s dynamic growth, we are the portal for information about the District and DTLA. To learn more about Downtown’s Renaissance and how to join us, visit www.DowntownLA.com.

DEFINITION OF DOWNTOWN LA The DCBID defines Downtown Los Angeles as the area bounded by the 110, 101 and 10 freeways and the LA River, plus Chinatown, City West, and Exposition Park. The projects contained in this report are within a portion of Downtown Los Angeles, shown on the map to the left.

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Downtown Center Business Improvement District


TABLE OF CONTENTS

EXECUTIVE SUMMARY ......................................... 4 MARKET OVERVIEW

Residential ......................................................... 6 Office .................................................................. 7

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Significant Real Estate Sales .............................. 7 Retail .................................................................. 8 Hotel .................................................................. 8 DEVELOPMENT UPDATE

Commercial Development Map ........................ 9 Residential Development Map ....................... 10 Under Construction ........................................ 12 Proposed ......................................................... 14

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FEATURED PROJECTS

Major Mixed-Use ............................................ 17 Residential ...................................................... 18 Office ............................................................... 19 Retail ............................................................... 20 Hotel ............................................................... 21 Civic & Cultural ............................................... 21 SPOTLIGHT ON DTLA

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Local Media ..................................................... 22 US and Global Media ...................................... 23 Downtown Center Business Improvement District

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Q3 2017 MARKET REPORT

EXECUTIVE SUMMARY Downtown LA continued on its dynamic growth trajectory in Q3, despite a relatively slow quarter for the greater LA area. Leading the way was residential with another 1,380 rental units coming to market.

RESIDENTIAL

With 5 new projects opening in Q3 alone, 2017 has already set a new record with over 2,700 new units delivered this year. Nevertheless, demand kept pace, with rents and occupancy rates holding steady from quarter to quarter.

OFFICE

In the Financial District, the Wilshire Grand Center added Metrolink to its roster of tenants, bringing the property to 40% leased. Meanwhile, the creative migration to Downtown continued with Adidas announcing a new marketing headquarters, tech firm Gimbal relocating from Santa Monica, both to ROW DTLA, Bullitt Studios moving from West Hollywood to City Market South in the Fashion District, and architecture firm Jerde leaving Venice for the historic CalEdison on Bunker Hill.

RETAIL

The quarter was also highlighted by the opening of two flagship fashion boutiques: Nordstrom Rack at FigAt7th, and COS in the historic Olympic Theater off Broadway. Broadway also prepared to welcome another national footwear chain with news that Vans signed a full floor lease at the Singer Sewing Building. On the food front, Sweetgreen, the national chain of healthy fast-casual restaurants opened the first of several planned Downtown locations at The CalEdison.

HOSPITALITY

Construction began on The Hoxton Hotel at 11th and Broadway across from the almost completed LA Proper. In the Arts District, construction also began on Soho House, a private social club for creatives, with 48 hotel rooms and a range of high-end amenities that will be located just a block from the new headquarters of Warner Music Group. Meanwhile the highly anticipated Nomad Hotel at 7th and Olive readied for a Q1 2018 opening

CIVIC & CULTURAL

After several years sitting idle, Downtown’s cherished Angel’s Flight finally returned to full service, bringing an appealing tourist attraction and much-needed transport from the office towers of Bunker Hill to the dining and entertainment options in the Historic Core.

Q3 KEY HIGHLIGHTS

182

New residential units broke ground

Q3 KEY STATS

1,380 New residential units opened

Soho House began construction in the Arts District Gimbal announced they will relocate from Santa Monica to ROW DTLA COS opened a flagship location at the historic Olympic Theater on 8th 4

Downtown Center Business Improvement District

$3.48 Average Class A Rent Per Square Foot

$2.92

Apartment Asking Rent Per Square Foot

17.6% office vacancy rate 1.9 million Square Feet YTD total office lease activity $176.38 YTD RevPar


RESIDENTIAL I OFFICE I RETAIL DowntownLA.com/MakeItYours Downtown Center Business Improvement District

5


Q3 2017 MARKET REPORT

MARKET OVERVIEW Residential • Over 700 units opened in City West, 640 of them at Holland Partners’ Sofia and the balance at Seven West. • Construction began on the adaptive reuse of the Foreman & Clark Building, which will convert the historic office property into 125 apartments. • Condo Sales continued to be strong with 133 sales in Q3, led by Metropolis and Ten50, which has almost completely sold out.

Metropolis

2,156

Q3 2017

Q3 2016

Apartment Occupancy Rate

87.5%

91.5%

Apartment Asking Rent Per Sq Ft

$2.92

$2.81

Average Effective Rent Per Unit

$2,499

$2,584

133

89

$679

$637

Condo Sales

CONDO UNITS UNDER CONSTRUCTION

Condo Price Per Square Foot Source: DTLA Life, CoStar

RESIDENTIAL INVENTORY RESIDENTIAL UNITS Market Rate Rental Condos Affordable Total

Since 1999

Current Inventory

2,426

19,975

22,401

7,676

30,077

24,514

829

5,266

6,095

2,156

8,251

4,685

8,371

3,884

12,255

71

12,326

692

11,626

29,125

39,371

9,903

50,654

29,891

67,324

18,393

85,717

Before 1999

Estimated Population Estimated Population = #of units x 1.8 residents per unit x 95% occupancy rate

6

Downtown Center Business Improvement District

Under Construction

Total When Complete

Proposed


MARKET OVERVIEW Office

Wilshire Grand Center

• Ernst & Young renewed their lease for 120,000 SF at their namesake tower. • Onni Group announced plans to upgrade the Western Pacific Building at Olympic and Broadway into modern creative space. • Despite relatively flat net absorption, rents continued to rise as landlords seek higher value tenants and longer-term deals.

Q3 2017

Q3 2016

Vacancy Rate

17.6%

16.8%

Class A Rent Per Sq Ft

$3.48

$3.32

Overall Rent Per Sq Ft

$3.47

$3.30

YTD Net Absorption

(-59,672)

185,142

YTD Leasing Activity

1,946,024

1,665,418

2.9m

SQUARE FEET OF OFFICE SPACE UNDER CONSTRUCTION

1.5m PROPOSED

Source: CBRE

Real Estate Sales Property Address

Buyer

Seller

Price

1211 E Washington Blvd

Yousef Golbahary

Atlas Capital Group LLC

$17m

1655 E 14th St

John Kim

A.B.S. Clothing Company

$7.8m

811-817 San Julian St

Moses Babazadeh

Meang Khy Chia

$7.5m

1030 S Hill St (Land)

Onni Group

Harry Altman Trust

$6m

Downtown Center Business Improvement District

7


Q3 2017 MARKET REPORT

MARKET OVERVIEW Hotel • The L.A. Convention Center announced its best year ever, with 74% occupancy, compared to only 56% in 2013, the last year it was run by the City of LA before turning over operations to AEG. • The Freehand opened Broken Shaker, their rooftop patio bar. • The Sydell Group announced that The Nomad Hotel at 7th & Olive will open in 2018. Oceanwide Plaza

1.5m

Q3 2016

81.1%

80.8%

YTD Average Daily Rate

$217.57

$213.24

YTD RevPAR

$176.38

$172.32

YTD Occupancy Rate

SQUARE FEET OF RETAIL SPACE UNDER CONSTRUCTION

2.5m

Q3 2017

Source: LA Tourism and Convention Board

PROPOSED

Retail • A new lease was signed by Vans for a flagship store on Broadway, adding to the growing roster of shoe stores in the area. • Corporation Food Hall opened on Spring St. with eight diverse vendors. • PBJ.LA became the newest vendor at Grand Central Market, which celebrated its 100th anniversary.

Q3 2017

The LA Proper

1,355

Vacancy Rate

4.6%

4.0%

Average Rent Per Square Foot

$2.57

$2.51

ROOMS UNDER CONSTRUCTION

(-74,820)

28,227

6,746 PROPOSED

YTD Net Absorption Source: CoStar

8

Q3 2016

Downtown Center Business Improvement District


Commercial Development n Existing n Under Construction/Renovation n Proposed Opened or began construction in Q3 As of 09/30/17

Downtown Center Business Improvement District

9


Residential Development n Existing n Under Construction/Renovation n Proposed 1 Opened or began construction in Q3 As of 09/30/17

10

Downtown Center Business Improvement District


Downtown Center Business Improvement District

11


Q3 2017 MARKET REPORT

UNDER CONSTRUCTION Project Name

Address

Residential Units

Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft.

Estimated Completion

Developer

MAJOR MIXED USE FINANCIAL DISTRICT Metropolis Phase II

899 Francisco St.

1,002 C

=

=

65,000

2018

Greenland

HISTORIC CORE Broadway Trade Center

801 S. Broadway

=

200

500,000

200,000

2017

Waterbridge

11th & Figueroa

504 C

184

=

166,000

2019

Oceanwide Holdings

The Aliso

950 E. 3rd St.

471

=

=

22,000

2018

Legendary Development

AMP Lofts

695 S. Santa Fe Ave.

320

=

=

20,000

2018

Bolour Associates

400 W. Cesar E Chavez Ave.

345

=

=

50,000

2018

LA Plaza de Cultura y Artes

72

=

=

11,000

2017

South Park Group

SOUTH PARK Oceanwide Plaza

RESIDENTIAL ARTS DISTRICT

CHINATOWN LA Plaza Cultura Village FASHION DISTRICT Grether & Grether

730 S. Los Angeles St.

FINANCIAL DISTRICT Grand Hope Lofts

888 S. Hope St.

526

=

=

5,000

2018

CIM

820 Olive Street

820 S. Olive St.

516

=

=

4,500

2018

Onni Group

Park Fifth

5th & Olive

660

=

24,000

2018

Macfarlane Partners

939 S. Broadway

939 S. Broadway

163

=

=

TBD

2017

Barry Shy

755 Spring St

755 S. Spring St.

320

=

=

8,900

2017

Holland Partners

Singer Sewing Building

806 S. Broadway

7

=

=

TBD

2017

Anjac Fashion

Topaz

550 S. Main St.

159

=

=

23,000

2017

JADE Enterprises

Banco Popular

354 S. Spring St.

188

=

=

17,500

2018

Standard Development

732 Spring Street

732 S. Spring St.

300

=

=

7,500

2018

Holland Partners

Perla

4th & Broadway

450 C

=

=

7,000

2018

SCG America

950 S. Broadway

950 S. Broadway

30

=

=

7,500

2017

GH Palmer

Broadway Palace Phase 2

938 S. Broadway

413

=

=

20,000

2017

GH Palmer

331-335 E. 1st St

41

=

=

TBD

2018

Capital Foresight

HISTORIC CORE

LITTLE TOKYO MIKADO SOUTH PARK

12

Circa

1200 S. Figueroa St.

648

=

=

48,000

2018

Jamison

1400 S. Figueroa

1400 S. Figueroa St.

110

=

=

1,400

2017

DHG Family Trust

Mack Urban Phase 2

1120 S. Grand Ave.

512

=

=

10,000

2018

Mack Urban

Apex Phase II

900 S. Figueroa St.

341

=

=

15,000

2018

Holland Partners

Downtown Center Business Improvement District


UNDER CONSTRUCTION Project Name

Address

Residential Units

Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft.

Estimated Completion

Developer

SOUTH PARK (CONT.) Onni Towers

1212 S. Flower St.

730

=

=

8,000

2018

Onni Group

1133 Hope Tower

1133 S. Hope St.

200 C

=

=

5,000

2019

Fulton Street Ventures

1000 S. Santa Fe St.

=

48

=

10,000

2018

Soho House

Hotel Clark

426 S. Hill St.

=

348

=

=

2017

Chetrit Group

Embassy Hotel

851 S. Grand Ave.

=

183

=

=

2017

Chetrit Group

NoMad Hotel

515 W. 7th St.

=

241

=

=

2017

Sydell Group

11th & Broadway

=

151

=

=

2017

The Kor Group

Santa Fe Business Center

500 S. Santa Fe Ave.

=

=

90,000

=

2018

Chalmers

AT MATEO

Mateo & Palmetto

=

=

50,000

130,000

2017

Blatteis & Schnur

ROW DTLA

7th & Alameda

=

=

1,200,000

200,000

2017

Atlas Property

The Ford Building

2060 E. 7th St.

=

=

271,000

=

2017

Shorenstein

4th & Traction

963 E. 4th St.

=

=

100,000

30,000

2017

Hudson Pacific Properties

Maxwell Building

405 S. Mateo St.

=

=

56,635

=

2018

Hudson Pacific Properties

759 N. Spring

759 N. Spring St.

=

=

9,000

14,000

2017

Industry Partners

Capital Milling Building

1231 N. Spring St.

=

=

TBD

50,000

2018

S&R Partners

City Market South

11th & San Julian

=

=

30,000

100,000

2017

LENA Group

Harris Building

110 W. 11th St.

=

=

58,000

6,400

2017

JADE Enterprises

Herald Examiner

1111 S. Broadway

=

=

80,000

=

2018

Georgetown Co./The Hearst Corp.

712 S. Olive St.

=

=

85,000

14,000

2017

Atlas Capital

527 S. Broadway

527 S. Broadway

=

=

70,000

8,000

2017

King's Arch

731 S. Broadway

731 S. Broadway

=

=

23,000

=

2018

Unknown

The Trust Building

433 S. Spring St.

=

=

300,000

=

2018

Rising Realty Partners

The Pettebone Building

510 S. Broadway

=

=

27,000

12,000

2017

RYDA Ventures

HOTEL ARTS DISTRICT Soho House FINANCIAL DISTRICT

FASHION DISTRICT The Proper (Case Hotel)

OFFICE & RETAIL ARTS DISTRICT

CHINATOWN

FASHION DISTRICT

FINANCIAL DISTRICT 712 S. Olive St. (LA Jewelry Mart) HISTORIC CORE

TOTAL UNDER CONSTRUCTION

9,903 Residential Units

1,355 Hotel Rooms

2,950,000 Office Sq. Ft.

1,547,300 Retail Sq. Ft.

TOTAL # OF PROJECTS = 47

C = Condo

Downtown Center Business Improvement District

13


Q3 2017 MARKET REPORT

PROPOSED Project Name

Address

Residential Units

Hotel Rooms

1,305/431 C

Office Sq. Ft.

Retail Sq. Ft.

Developer

MAJOR MIXED USE ARTS DISTRICT 6AM

6th & Alameda

412

250,000

128,000

2110 Bay

2110 Bay St.

110

=

113,000

51,000

670 Mesquit

670 Mesquit St.

308

236

136,000

TBD

2nd & Grand

450

300

47,000

209,000

SunCal Tishman Speyer V.E. Equities

BUNKER HILL Grand Avenue Project

Related California

CIVIC CENTER Times Mirror Square

100 S Broadway

=

TBD

34,000

222 W 2nd St.

222 W 2nd St.

107 C

=

534,000

7,200

9th & San Pedro

945 C

210

TBD

225,000

Peter Fleming

333 S. Alameda St.

994

=

=

100,000

TBD

1,127

Onni Group Tribune Media Company

FASHION DISTRICT City Market LITTLE TOKYO Little Tokyo Galleria SOUTH PARK 1020 S. Figueroa

1020 S. Figueroa St.

SoLA Village

1900-1933 S. Broadway

811 W. Olympic

300

=

80,000

Hazens

1423

435 C

208

=

30,000

PRH LA Mart

811 W Olympic Blvd.

374

373

33,500

65,000

Ben Neman

Figueroa Centre

925 S. Figueroa St.

200 C

220

=

94,000

Regalian

1600 S. Figueroa St.

1600 S. Figueroa St.

336

250

=

15,000

RP Realty Partners

Camden

RESIDENTIAL ARTS DISTRICT Industrial Street Lofts

1525 Industrial St.

344

=

15,000

15,000

Alameda & 4th Lofts

360 S. Alameda St.

63

=

=

TBD

1800 E. 7th St.

1800 E. 7th St.

125

=

=

8,000

527 S. Colyton St.

527 S. Colyton St.

310 C

=

=

11,375

South Alameda Development Elm Tree Investment Bolour Assoc

520 S. Mateo St.

520 S Mateo St.

600

=

20,000

30,000

Carmel Partners

330 S. Alameda

330 S. Alameda

186

=

=

22,000

Greystar

5th & Seaton

5th & Seaton

218

=

=

18,400

WW-5th & Seaton

676 S. Mateo

676 S. Mateo

172

=

=

23,000

District Centre

668 S. Alameda Street

668 S. Alameda

475

=

=

45,000

1000 S Mateo St.

1000 S Mateo St.

113

=

12,700

120,000

Avalon Bay Mateo Arts, LLC

Arts District Center

5th & Colyton & Seaton Streets

129 C

113

=

70,000

234 N. Center St.

234 N. Center St.

430

=

=

8,700

2143 Violet St.

2143 Violet St.

509

=

=

288,000

4th & Hewitt

940 E. 4th St.

93

=

=

20,000

Shoreham Capital

641

641 S. Imperial Ave.

140

=

7,000

7,000

Adam Lindemann

College Station

924 N. Spring St.

770

=

=

51,000

720 W. Cesar E Chavez

720 W. Cesar E Chavez

299

=

=

8,000

Cimmarusti Holdings

Alpine & Spring

211 W. Alpine

122

=

=

4,200

Izek Shomoff

Hill & Ord

708 N. Hill St.

162

=

=

5,000

643 N Spring St.

643 N Spring St.

203

=

=

21,000

1201 N Broadway

1201 N Broadway

124

=

=

8,700

Johnson Fain

1251 N Spring St.

1251 N Spring St.

937

=

=

21,000

S&R Partners

Arts District Development, LLC Atlas Capital Onni Group

CHINATOWN

14

Downtown Center Business Improvement District

Atlas Capital

Avant Development Redcar Properties


PROPOSED Project Name

Address

Residential Units

Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft.

Developer

CITY WEST 1027 Wilshire

1027 Wilshire Blvd.

376

=

=

6,500

Sapphire

1111 W. 6th St.

362

=

=

25,800

1135 W. 7th St.

1135 W. 7th

241

=

=

7,000

495 S. Hartford Ave.

495 S. Hartford Ave.

218

=

=

TBD

Ferrante

1000 W. Temple

1,500

=

=

30,000

HOM Lofts

1230 W. Ingraham St.

80

=

=

=

Sharp Capital

Career Lofts

675 S. Bixel

422

143

=

=

United American Properties

1000 1st St.

136 S Beaudry Ave.

220

=

=

7,500

801 South Spring Holdings, LLC

Lifan Tower

1247 W. 7th St.

304

=

=

5,700

Lifan Group

7th & Maple

7th & Maple

452

=

=

TBD

1100 S Main St.

1100 S Main St.

379

=

=

26,000

Jade Enterprises

Mitsui Fudosan

Central City Development Jade Enterprises Pangea Development Urban View Investments GH Palmer

FASHION DISTRICT Realm Group/Urban Offerings

FINANCIAL DISTRICT Eighth & Figueroa

744 S. Figueroa St.

436

=

=

11,000

845 S Olive St.

845 S Olive St.

205

=

=

2,400

754 S. Hope St.

754 S. Hope St.

409

=

=

329

755 S. Figueroa St.

755 S. Figueroa St.

780

=

=

=

Hill Tower Lofts

920 S. Hill St.

239 C

=

=

TBD

Medallion 2.0

4th & Main

500

=

=

38,000

Saeed Farkhondehpour

SB Omega

601 S. Main St.

500 C

=

=

25,000

Barry Shy

National Properties Mitsui Fudosan Brookfield

HISTORIC CORE Barry Shy

955 S. Broadway

955 S. Broadway

163 C

=

=

6,400

Barry Shy

The Beacon

340 S. Hill St.

428

=

=

5,600

Equity Residential

Spring St. Tower

525 S. Spring St.

360

=

=

9,400

Fifth and Hill

5th and Hill St.

142 C

=

=

25,000

433 S Main St.

433 S Main St.

196

=

=

6344

Main Street Tower, LLC

Brooks Building

644 S. Broadway

30

=

=

2,500

Owner (TBD)

The Hill

940 S. Hill St.

Garland Building

740 S. Broadway

The Alexan

232

=

=

14,000

47

=

=

TBD

9th & Hill

305

=

=

6,200

721-813 E. 5th St.

160

=

=

10,000

Downtown Management Jeffrey Fish

940 Hill LLC TBD Trammell Crow Residential

INDUSTRIAL DISTRICT Efficient City Apartments

Dayan Investments

SP7

419 E. 7th/647 S. San Pedro

81

=

=

TBD

Southern California Flower Market

755 S Wall St.

323

=

58,000

81,000

Southern California Flower Mart

6th at Central

601 S Central Ave.

236

=

=

12,000

Triangle Plaza LLC

Skid Row Housing Trust

LITTLE TOKYO Etco Homes

118 Astronaut Ellison S. Onizuka St.

66

=

=

TBD

The Catalina

443 S. San Pedro St.

78

=

=

7,000

1201 S. Grand Ave.

126 C

=

=

TBD

Etco Homes Statewide Acquisitions Corp

SOUTH PARK 12th and Grand

City Century

Six Four Nine Lofts

Wall & 7th

55

=

=

TBD

Skid Row Housing Trust

FLOR 401

Wall & 7th

100

=

=

TBD

Skid Row Housing Trust

Emerald

1340 S. Olive St.

154

=

=

10,700

Vara

1233 S. Grand Ave.

150 C

=

=

5,000

Jade Enterprises City Century

C = Condo

Downtown Center Business Improvement District

15


Q3 2017 MARKET REPORT

PROPOSED Project Name

Address

Residential Units

Hotel Rooms

Office Sq. Ft.

Retail Sq. Ft.

Developer

SOUTH PARK (CONT.) 1410 S. Flower St.

1370-1418 S. Flower St.

Mack Urban Phase 3

1155 S. Olive

Olympia

Olympic Blvd. & Harbor Fwy.

1000 Hill 1045 S Olive St.

147

=

1,200

6,741

Oxley Place, LLC

154

=

=

11,000

Mack Urban

1,367

=

=

40,000

City Century

1000-1022 S. Hill St.

498

=

=

8,700

Onni Group

1045 S Olive St.

800 C

=

=

TBD

Crescent Heights FMB Development

1317 S. Hope St.

1317 S. Hope St.

38

=

=

TBD

1335 S. Grand Avenue

1323-1349 S. Grand Ave.

284

=

=

6,300

M&A Gabaee

1344 S. Flower St.

1334-1348 S. Flower St.

151

=

=

1,162

The Condor

1340 S. Hill St.

1340 S. Hill St.

233

=

=

9,000

Chernoff Family Trust

HOTEL ARTS DISTRICT 400 S. Alameda

400 S. Alameda

=

66

=

710 S. Santa Fe Ave.

710 S. Santa Fe Ave.

=

10

=

1031 S. Broadway

=

377

=

=

Onni Group

419 S. Spring St.

=

TBD

=

=

PNK Group

Lizard in Los Angeles

631-633 S. Spring St.

=

176

=

=

Lizard Capital

361 S. Spring St.

361 S. Spring St.

=

315

=

=

Osib LA Downtown Properties

1130 S. Hope St.

=

44

=

=

Fulton Street Ventures

= TBD

Habita Arts District (TBD) Firehouse Hotel LLC

FASHION DISTRICT Western Pacific Building HISTORIC CORE 419 S. Spring

SOUTH PARK 1130 S. Hope Fig+Pico

Figueroa St. & Pico Blvd.

=

1,162

=

13,100

Cambria Hotel

920-928 James M. Wood

=

247

=

=

Morrison Hotel

1246 S Hope St.

=

80

=

TBD

Hollywood Int’l. Regional Center

Trical Hotel

1300 S. Figueroa St.

=

1,024

=

TBD

Trical Construction Inc.

1000 S. Santa Fe Ave.

=

=

TBD

TBD

SoHo House

Lightstone Sun Capital & Pacific Property Partners

OFFICE & RETAIL ARTS DISTRICT SoHo House 929 E. 2nd St

929 E. 2nd St.

=

=

65,000

32,000

2144 E Violet St

2144 E. Violet St.

=

=

91,000

6100

640 S Santa Fe Ave.

640 S Santa Fe Ave.

=

=

107,000

TBD

405 S. Hewitt St.

405 S. Hewitt St.

=

=

255,000

15,000

2159 E. Bay St.

2159 E. Bay St.

=

=

222,000

TBD

755 W. College St.

=

=

100,000

=

755 S. Los Angeles St.

=

=

60,000

43,000

718 S. Hill St.

=

=

45,000

7,000

229-249 S. Los Angeles

=

=

=

Est4te Four Capital Lowe Enterprises Continuum Partners Legendary Development Tishman Speyer

CHINATOWN Kaiser Permanente Expansion

Kaiser Permanente

FASHION DISTRICT Norton Building

Urban Offerings

JEWELRY DISTRICT 718 S. Hill

Urban Blox

CIVIC LITTLE TOKYO Budokan of Los Angeles

TOTAL PROPOSED

16

Downtown Center Business Improvement District

29,891 Residential Units

6,746 Hotel Rooms

1,483,000 Office Sq. Ft.

= 2,535,000 Retail Sq. Ft.

Little Tokyo Service Center TOTAL # OF PROJECTS = 104


FEATURED PROJECTS 

UNDER CONSTRUCTION

METROPOLIS

Developer: Greenland The first phase of this $1 billion project, including 308 condos and the 350-room Hotel Indigo, is now open, with the remaining 1,000+ condos and 60,000 SF of retail space expected in 2018.

UNDER CONSTRUCTION

Major Mixed Use

PROPOSED

GRAND AVENUE PROJECT Developer: Related Construction is scheduled to begin in 2018 on this long-awaited Bunker Hill project. Designed by Frank Gehry, it will feature over 400 residential units, a 305 room Equinox Hotel, and over 200K SF of retail space.

PROPOSED

OCEANWIDE PLAZA

1020 S. FIGUEROA

Developer: Oceanwide Holdings

Developer: Hazens

Across from Staples Center and L.A. LIVE in South Park, this $1 billion project will include 504 condos, 184 hotel rooms, and almost 200,000 square feet of retail.

At a cost of $700 million, Downtown’s latest mega-project in South Park will have 435 condos, 250 hotel rooms, and 80,000 square feet of retail. Downtown Center Business Improvement District

17


Q3 2017 MARKET REPORT

FEATURED PROJECTS

Residential

UNDER CONSTRUCTION

AMP LOFTS

Developer: Bolour Associates Across the street from Warner Music’s new headquarters in the Arts District, this project includes 320 apartments and 20,000 SF of retail.

UNDER CONSTRUCTION

UNDER CONSTRUCTION

PARK FIFTH

GRAND HOPE LOFTS

Developer: Macfarlane Partners

Developer: CIM Group

Across from Pershing Square, construction is well underway on Park Fifth, consisting of a 24-story tower and a 7-story building with a total of 660 residential units and 24,000 SF of retail space.

Next to the newly-opened Petco, CIM Group’s project, which will have 526 residential units, is now topped out at 33 stories.

OPENED IN Q3

18

Name

Neighborhood

Description

Sofia

City West

640 apartments from Holland Partners

Seven West

City West

Smaller project with 87 units on 7th Street

STOA

Little Tokyo

238 units between Main and Los Angeles

Olympic & Olive

South Park

Mix of 201 furnished and unfurnished units

Axis on Twelfth

South Park

First of two from Forest City with 214 apartments

Downtown Center Business Improvement District


FEATURED PROJECTS

Office

UNDER CONSTRUCTION

UNDER CONSTRUCTION

Developer: Waterbridge Capital

Developer: Atlas Capital

With over 1 million square feet of space that has been vacant for years, this project will activate almost a full city block at Broadway and 8th in the Historic Core.

Transformation of 1.5 million SF of industrial space into a creative destination is underway with the first retail and office tenants taking occupancy.

UNDER CONSTRUCTION

UNDER CONSTRUCTION

BROADWAY TRADE CENTER

ROW DTLA

FORD FACTORY

LA JEWELRY MART

Developer: Shorenstein

Developer: Atlas Capital

The former Ford Factory in the Arts District is being revitalized as a state-of-the-art 250,000 square foot office destination that will be the new home of Warner Music Group in 2018.

Built in 1917 in the heart of the Financial District, this project features 85,000 SF of office space at 14,000 SF of ground-floor retail.

Q3 SELECT LEASES Tenant

Building

Address

Sq. Ft.

Ernst & Young

725 S Figueroa St.

Ernst & Young Plaza

Merrill Lynch

350 S Grand Ave.

2Cal

51,954

Analysis Group

333 S Hope St.

Wells Fargo Plaza

37,135

Metrolink

900 Wilshire Blvd.

Wilshire Grand Center

30,000

Bank of China

444 S Flower St.

Citigroup Center

18,499

120,695

Downtown Center Business Improvement District

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Q3 2017 MARKET REPORT

FEATURED PROJECTS

Retail UNDER CONSTRUCTION

CAPITOL MILLING BUILDING Developer: S&R Partners Located in Chinatown next to the new State Historic Park, this project will revitalize 5 industrial buildings dating from 1881 and create over 50,000 square feet of food and beverage options mixed with creative office.

UNDER CONSTRUCTION

AT MATEO

Developer: Blatteis & Schnur This mixed office and retail project in the Arts District will feature open-air pedestrian walkways and architecture that reflects the industrial surroundings.

UNDER CONSTRUCTION

CITY MARKET SOUTH Developer: LENA Group Originally part of the oldest produce market in Los Angeles, this project promises to bring a new level of dining, retail and creative office to the heart of the Fashion District.

Q3 SELECT RETAIL OPENINGS

20

SweetGreen

Le Box Blanc

PBJ.LA

Healthy Spot

The Loit

Blacksmiths

Sculpt

The Mighty

Corporation Food Hall

Halal Guys

Spire 73

COS

Earl of Sandwich

CoffeeWalk Yogurtalk

Firenza

Little Fluffy Head

Nossa Familia

Sweetfin

Downtown Center Business Improvement District


FEATURED PROJECTS

UNDER CONSTRUCTION

Hotel

UNDER CONSTRUCTION

PARK HYATT

NOMAD HOTEL

Developer: Oceanwide

Developer: Sydell Group

The 183 room hotel component of Oceanwide Plaza is the first Hyatt in DTLA, adding to the growing mix of operators.

This renovation of historic Giannini Place is the second project from the Sydell Group within one block.



Civic & Cultural

UNDER CONSTRUCTION

UNDER CONSTRUCTION

REGIONAL CONNECTOR

6TH STREET VIADUCT

Developer: Metro

Developer: City of Los Angeles

The 1.9-mile, $1.75 billion underground light rail extension, set to open in 2021, will provide a one-seat ride for north/south and east/west travel across Los Angeles County through the heart of Downtown.

The iconic Sixth Street Viaduct is being replaced. The new bridge’s community features will enhance the connection between the Arts District on the west side of the Los Angeles River and historic Boyle Heights on the east side. Completion is scheduled for 2019. Downtown Center Business Improvement District

21


Q3 2017 MARKET REPORT

SPOTLIGHT ON DTLA

Local Media

L.A. OFFICIALLY AWARDED 2028 OLYMPIC GAMES International Olympic Committee members voted their approval with a show of hands at a session in Lima, Peru, ending an unusual bid competition that resulted in two winners, with Paris simultaneously awarded the 2024 Games. — LA Times, 9/13/17

LOS ANGELES CONVENTION CENTER JUST WRAPPED UP ITS BEST YEAR EVER In the fiscal year that ended June 30, the Convention Center hosted 33 large conventions, two more than during the previous 12-month period, and had an occupancy rate of 74%, compared with 72% in the previous 12-month period. Occupancy was 57% during the last full fiscal year that the city ran the center. — LA Times, 7/27/17

GRAND AVENUE PROJECT FILES FOR CONSTRUCTION PERMITS Late last year, the long-stalled Grand Avenue Project received a $290-million life line from the Chinese real estate firm CORE, who is now partnering with Related Companies on the $1-billion mixed-use complex across the street from the Walt Disney Concert Hall. — Urbanize.la, 8/11/17

MASSIVE VANS FLAGSHIP STORE COMING TO BROADWAY IN DOWNTOWN LA Vans, one of the world’s most popular shoe brands, has recently signed a lease to occupy the entire ground floor retail space at the historic 1930 Singer Sewing Machine Building. — DTLA Rising, 7/21/17

FILM PRODUCTION COMPANY TO RELOCATE TO FASHION DISTRICT Joe and Anthony Russo, the sibling directors behind box office hits Captain America: The Winter Soldier, Captain America: Civil War and You, Me and Dupree are moving their offices and companies to an 18,300-square-foot office space in City Market South in the Fashion District. — Downtown News, 8/4/17

HIGH-TECH ARCADE TWO BIT CIRCUS COMING TO THE ARTS DISTRICT About 10,000 square feet will serve as office and experiment space for its approximately three dozen employees, while the remainder will hold a kind of high-tech version of Dave & Busters, with food, a bar and a thick roster of interactive games. — Downtown News, 8/3/17

TECH FIRM LEAVING SANTA MONICA FOR DOWNTOWN Gimbal, which makes a platform for marketing and advertising, has announced that it will trade its Santa Monica offices for the Central City. The company will move into a 12,600-square-foot space in the 30-acre Row DTLA complex in the Industrial District. — Downtown News, 7/11/17 22

Downtown Center Business Improvement District


SPOTLIGHT ON DTLA

US & Global Media

APRIL, 2017

DOWNTOWN LOS ANGELES IS AMERICA’S MOST COLORFUL NEIGHBORHOOD “One Los Angeles neighborhood, at least, offers something more colorful--and arguably better--than anything else in the U.S. It is the city’s downtown area, better known here to locals as ‘DTLA.’”

APRIL, 2017

LOS ANGELES’ NEW TECH SCENE FLOURISHES DOWNTOWN “Digital-media hubs have sprouted up all over Los Angeles in recent years in areas such as Venice, Playa Vista, and Culver City. But now the city’s downtown is also becoming a hot spot for a growing number of tech-minded firms.”

OCTOBER 2016

IT’S OFFICIAL: WARNER MUSIC GROUP MOVING TO LOS ANGELES’ DOWNTOWN ARTS DISTRICT “In a memo to staff on Oct. 7, WMG CEO Stephen Cooper announced the relocation to the downtown Arts District…an up-and-coming area that boasts “a burgeoning art, fashion, and food scene that’s a magnet for businesses, entrepreneurs, and creatives...”

APRIL 2016

DOWNTOWN LA: WHY NOW’S THE TIME TO VISIT AMERICA’S HIPPEST ‘HOOD “The city [of Los Angeles] is sunny and diverse…but it’s also enormous and the traffic is a snarling mess. To get under its skin, you need a neighbourhood focus. And that neighbourhood should be Downtown.”

FEBRUARY 2016

ART SCENE HEATS UP IN DOWNTOWN LOS ANGELES “While it’s unlikely that Ms. Kardashian will be partying in the Arts District anytime soon, the art openings there have become a social circuit, with blue-chip galleries and adventurous collectors mixing with notable artists, newer spaces and assorted hangers-on.“

Downtown Center Business Improvement District

23


PLEASE CONTACT THE DCBID WITH ANY QUESTIONS YOU MAY HAVE. NICK GRIFFIN

ELAN SHORE

Vice President of Economic Development

Associate Director of Economic Development, Research & Special Projects

(213) 416-7522 ngriffin@downtownla.com

(213) 416 -7518 eshore@downtownla.com

EVENTS I MAPS & GUIDES I RESTAURANTS I RESEARCH & REPORTS


DTLA LIFE MAG #35 | JANUARY 2018  
DTLA LIFE MAG #35 | JANUARY 2018