South Park WELCOME HOME

Updated designs have emerged for a two-building development now rising near the historic offices of the Los Angeles Herald-Examiner. The project, which is being developed by Cleveland-based Forest City Enterprises, is named 11x12 for the addresses of its development sites at 1100 S. Hill Street and 1201 S. Main Street. As designed by architecture firm Harley Ellis Devereaux, with direction from Togawa Smith Martin, the dual low-rise buildings will feature a combined 391 residential units and 16,000 square feet of retail space.

Global real estate company Kennedy Wilson has officially launched its leasing effort for the retail and restaurant component of Oceanwide Plaza, a $1-billion mixed-use complex now under construction in Downtown Los Angeles. The project, which is being developed by the Beijing-based Oceanwide Holdings, will feature a 153,000-square-foot selection of shops and eateries dubbed “The Collection at Oceanwide Plaza.“ An official website set up by Kennedy Wilson offers an interactive aerial map and an animated fly-through video of the completed developed.

Update 5/25/16: According to Joe Shuster, the President and owner of Honda of Downtown Los Angeles, the project is an expansion of the business than a relocation. Although the current operations will be relocating to a new facility near Exposition Park, its current location will remain an automobile dealership focused on used cars and high-speed services for Honda vehicles. The rising tide of Downtown Los Angeles real estate has finally begun to chip away at the Figueroa Corridor’s well-established swath of automobile dealerships.

One year after mysteriously stalling out, Los Angeles-based real estate firm CIM Group has restarted construction at 888 S. Hope Street, the future site of a high-rise apartment building in Downtown Los Angeles. Real estate publication Bisnow reports that last week, crews from Suffolk Construction officially began site preparation for the 34-story tower, which will sit across the street from both Grand Hope Park and a Ralphs supermarket. The project, now known as the Grand Hope Lofts, will include 526 residential units and approximately 6,200 square feet of ground-level commercial space.

After more than a year of construction, Jade Enterprises’ Onyx development has progressed to its sixth floor above ground in Downtown’s South Park neighborhood. The mixed-use development, now rising from a .75-acre site at 1306 S. Hope Street, will consist of 162 apartments, 13,200 square feet of ground-floor retail space and 163 underground parking spaces. The building, designed by TCA Architects, will top out at seven stories. Onyx, located one block west of Pico Station, is the first phase of a two-building development from Los Angeles-based Jade Enterprises.