Steven Sharp WELCOME HOME

The proposed redevelopment of the Neptune Marina apartments has gotten a much-needed shot in the arm. According to a document from the Los Angeles County Board of Supervisors, Greystar Real Estate Partners has taken over a majority stake in the $300-million project, which encompasses nearly 10 acres of property overlooking the Marina del Rey waterfront. Legacy Partners, a California-based firm, has spearheaded the development process thus far and will retain a stake in the development.

A parking lot in the Historic Core could be the latest property swallowed up by the Downtown development wave. Yesterday, plans were filed with the City of Los Angeles to construct a mixed-use complex at 433 S. Main Street. Although details such as the proposed development’s height are currently unclear, the project would include 196 apartments and 6,344 square feet of ground-floor retail space. Similar projects slated for the Main Street corridor include the second phase of the Medallion and a 38-story tower from prominent Historic Core landlord Barry Shy.

Fresh off an impromptu groundbreaking ceremony for 1133 S. Hope Street, another Downtown development has suddenly begun prepping for construction. Onni Group, a Canadian real estate developer, has set up protective fencing around a surface parking lot at 1212 Flower Street. The approximately 1.5-acre site, which abuts Pico Station, is slated for a pair of high-rise towers featuring 730 residential units, 8,000 square feet of retail space and parking accommodations for 830 vehicles.

Developer CIM Group is now in the midst of construction on a multifamily residential complex in Westchester, a short distance from Los Angeles International Airport. The La Tijera Apartments, now rising from a triangular one-acre site and La Tijera Boulevard and Sepulveda Eastway, will feature 136 rental units in addition to amentities such as a fitness room, a club room, a rooftop deck, underground parking for 221 vehicles and 136 long-term bicycle parking spaces.

Downtown’s Civic Center is known as the largest concentration of government employees in the United States outside of Washington D.C. Now, a private developer will try to add a new element to the neighborhood: residents. According to plans filed with the City of Los Angeles, a mixed-use tower is slated for a surface parking lot at 2nd Street and Broadway. The project site, which also fronts Spring Street, would birth a 30-story building featuring 107 condominiums, 534,000 square feet of offices and approximately 7,200 square feet of ground-floor commercial space.

Onni Group, the Canadian developer that has recently gone on a property-buying spree in Downtown Los Angeles, is planning its second development in Hollywood. Earlier today, the Vancouver-based real estate firm filed plans with the City of Los Angeles to construct a high-rise building featuring 429 residential units and approximately 60,000 square feet of commercial space. The proposed tower, which would rise to a maximum height of 262 feet, is slated for an approximately two acre site at 1360 N.

The decline of print media could prove a boon to the city’s effort to combat homelessness. According to a motion put forth by 9th District Councilmember Curren Price, the Los Angeles Homeless Services Authority is recommending that a former printing facility for the La Opinion Spanish-language newspaper be repurposed as a daytime storage location for the belongings of homeless Angelenos. The property, located at 224 E. Washington Boulevard, is said to be capable of accommodating up to 500 storage bins and shower facilities.

Los Angeles-based developer KB Home is building a new community of townhouse-style condominums in Gardena. The project, dubbed Newfield, is rising from an approximately 4.75-acre site near the corner of Rosecrans and Normandie Avenues. Plans call for a collection of three-story residences with floor plans ranging between 1,784 square feet and 1914 square feet. Individual units will each feature three-to-four bedrooms and a two-car garage. The gated community, which will include community green space, is billed as being located in close proximity to numerous freeways, employment destinations and the beach cities.

Fulton Street Ventures, the American subsidiary of Chinese real estate firm R&F Properties, held a groundbreaking ceremony this weekend for a long-delayed high-rise development in Downtown Los Angeles. The small gathering was first spotted by Downtown-based entrepreneur Andy Rosillo. The project, 1133 S. Hope Street, is a proposed 28-story residential tower located east of Staples Center and the L.A. Live entertainment district. Plans call for an approximately 330-foot building would contain roughly 200 condominiums, 5,000 square feet of ground-floor retail space, a parking garage and residential amenities.

While the city moves forward with plans for a $50-million redesign of Pershing Square, a property across the street is lining up for an even more aggressive makeover. Last week, JMF Development Co. filed plans with the City of Los Angeles to construct a mixed-use complex at northeast corner of 5th and Hill Streets. The project, as described in a case filing from the Department of City Planning, would consist of a 55-to-57-story building which could move forward under two alternate schemes.