$350M TOD Build Takes on All Asset Classes

Ivy Station

Lowe Enterprises is taking on all the major asset classes for its latest project. The transit-oriented development Ivy Station includes 200 apartment units, a 148-room boutique hotel, 55,000 square feet ground floor retail, 200,000 square feet of office building and 1,500 below grade parking spaces. Lowe is partnering with AECOM and Rockwood Capital to fund the $350 million project.

“Our vision is really about how we create great places around transit and improving locations within our city, and densifying the vision of L.A. It is also about creating an experience for people that are using transit and choosing alternative forms of transportation in our city. It is really about the experience of place and mix of uses,” Tom Wulf, SVP at Lowe Enterprises, tells GlobeSt.com. “There is a true demand for all of these product types. I think that it is about the experience of the property, and when we looked at it in the beginning, our vision was creating that experience with a vibrant atmosphere where people could live, work, stay and play. To create that experience, you need to have an all-day atmosphere that creates activity.”