LOS ANGELES—Forest City is bringing two more multifamily mixed-use developments to South Park in Downtown Los Angeles, and has hired Suffolk Construction to build the properties. The two buildings will have a total of 391 units and 15,000 square feet of ground floor retail space. Suffolk has already broken ground on the project, and estimates a June 2017 delivery.
“This project in this part of town will be the fountain head for more projects of this type and it will ultimately bridge the gap between South Park and downtown in a part of town that could use a bit of an uplift,” Min Zavarella, Los Angeles VP and COO at Suffolk Construction, tells GlobeSt.com. “I applaud Forest City for taking us in that direction. I am excited about Suffolk's involvement, and I am ultimately excited about Los Angeles because I think great things are going to happen here in the next 10 to 20 years.”
The property is located near the Herald Examiner building, which will also undergo a dramatic renovation, on two parcels of land. Each parcel will house a seven-story residential building with ground floor retail space: the larger building will have 214 units, 7,500 square-feet of ground-floor retail space and 277 parking spaces; while the larger building will have 177 units, 7,500 square feet of ground-floor retail space and 215 parking spaces. “This is a wood-frame-over-podium project, and we have an extensive portfolio of this particular product type,” adds Zavarella. “We're very familiar with this type of construction. The project is also residential in nature, and we are one of the top-ranked residential builders in the United States. So, this is a very familiar product type and we brought in a team with personal experience as well. It fits our model, it fits our product type and it fits our client relations.”
The property will have a mix of one- and two-bedroom units as well as amenities, including swimming pool, fitness facility and courtyard. Architecture firm Togawa Smith Martin is designing the property.
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