Mack Urban Begins $144M JV Development

LOS ANGELES—Mack Urban and AECOM have officially broken ground on the $144-million mixed-use project announced last year. The land site for the project is part of a six-acre amalgam of sites that the joint venture purchased in October 2013 for $80 million, the largest land deal by acreage in Downtown Los Angeles since the recession. Along with the ground breaking, the developers have also teamed up with Capri Capital Partners on the project.

“Our vision is to create a thoughtful, walkable, desirable “community” in South Park, which has become one of the most desirable neighborhoods in Downtown Los Angeles,” John Gunn, managing director at Mack Urban, tells GlobeSt.com, adding, “We know and respect Capri and have worked with them before. We’re committed to the same goals and we’re a good fit.”