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$2-billion development could replace DTLA cold storage facility




A Denver-based developer behind a series of new office buildings in the Arts District has now turned its sights west to an industrial area at the neighborhood's border with Little Tokyo and Skid Row.
Continuum Partners has teamed with longtime Downtown property owner Los Angeles Cold Storage to redevelop 7.6 acres of property at the intersection of 4th Street and Central Avenue. The project, named Fourth & Central, would include up to:
  • 1,521 residential units;
  • 401,000 square feet of office space;
  • 93,000 square feet of shops and restaurants; and
  • a 68-room hotel.
“We are very bullish about the future of Los Angeles, particularly Downtown,” said Continuum Partners chief executive officer and founder Mark Falcone in a prepared statement. “Our team is especially looking forward to being part of the massive transit infrastructure coming to DTLA, which will reshape the entire region over the next 20 years and help LA lead the nation towards a more equitable 21st century city.”
Continuum has tapped architecture firm Studio One Eleven to develop a master plan for the site, which includes multiple properties fronting 4th Street, Alameda Street, and Central Avenue. Plans call for 10 different buildings ranging from 2 to 42 stories in size, broken up by a network of private streets and paseos. In addition to providing access for motorists and pedestrians, the ground-level circulation would break up the large block, which is a vestige of the property's longtime use as a cold storage facility.
 
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