(For more retail coverage, click GlobeSt.com/RETAIL and to read more on the multifamily market, click here.)

LOS ANGELES-The New York-based Moinian Group plans a two-million-sf, $700-million mixed-use development of condominium towers, retail space and a hotel on a four-acre site near the Staples Center that it has acquired for $80 million. The company acquired the site from AEG, the owner-operator of Staples Center that is controlled by billionaire developer Philip Anschutz.

The development parcel is at the corner of 11th and Figueroa streets, across from the L.A. Live project being developed by AEG. Moinian proposes to build a mix of residential lofts, condominiums, townhouses and luxury penthouse units in two high-rise towers of 45 and 33 stories.

The plan, designed by the architectural firm RTKL, calls for retail development including shops, a gourmet food store, new restaurants and a health and fitness club, along with a boutique hotel. It marks the second recent entry into Downtown L.A. by the Moinian Group, which recently partnered with Henry Shahery to acquire a development site at 808 S. Olive St.

Joseph Moinian, CEO of the Moinian Group, notes that the project design will include “mid-block passages to create much needed pedestrian-only areas.” Such pedestrian-oriented design elements are considered by planners and city officials to be one of the keys to the redevelopment now under way in Downtown Los Angeles.

The Moinian venture is one of a number of projects that hope to tie in with L.A. Live, the four-million-sf, $2.5-billion sports and entertainment district that is being developed across from the Staples Center. L.A. Live will feature a 7,100-seat Nokia Theater for live performances, a 1000-room convention hotel and a 14-screen Regal Cineplex along with restaurant, residential and office space.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.