Prologis Mixed-Use Play Could Add New Life to Arts District

Introduction to the Project

Talk around downtown Los Angeles’ Art District isn’t as buzzy as it once was. A redevelopment project from Prologis that’s expected to break ground in 2027 could help breathe new life into the conversation around the most directional of downtown’s neighborhoods, which is sandwiched between Skid Row and Boyle Heights.

Project Details

A new planning study by Prologis calls for a 9-acre entertainment campus at a former Greyhound bus station. The campus at 1716 East 7th Street includes 364,000 square feet of studio space, offices, production support facilities and parking. If all goes as planned, the project will break ground in 2027 and be completed two years later.

Impact on the Area

Once done, it could help to create a critical mass of residential, office and retail uses at the intersection of Alameda and 7th streets. Prologis’ project is less than a half-mile walk to the Row DTLA retail and office complex or the recently opened Ava Arts District apartments, both located on Alameda Street.

Recent Polls and Their Implications

Results from a poll conducted by the Berkley Institute of Governmental Studies, co-sponsored by the Los Angeles Times, showed L.A. County residents were open to restricting home building in fire-prone areas — to the tune of 70 percent of the nearly 5,200 registered voters surveyed between Feb. 17 and Feb. 26. Meanwhile, those same poll participants were a little more than halfway split down the middle on building higher-density projects, with 55 percent in support of said developments in urban areas.

Builder’s Remedy and Its Implications

The poll results call into question whether other cities in the county would be open to offsetting any housing shortage created should there be restrictions on building in fire-ravaged areas. In such a case, more time would no doubt be tacked onto efforts to quickly rehouse those who wish to return to homes damaged or destroyed by the fires. A legal battle between a proposed mixed-use development and the city of La Cañada Flintridge is over. City officials gave up fighting the project, which would have consisted of apartments, hotel rooms and over 7,300 square feet of office space at 600 Foothill Boulevard.

Resi’s Whopping Land Listing

Intrigue abounds around who might buy a $175 million, multi-parcel land listing. The 33 acres, spread across 15 parcels in Benedict Canyon comes with a controversial past. Developer Gary Safady once aimed to build on site a Bulgari-branded hotel with 59 rooms, plus eight single-family residences ranging in size from 12,000 to 48,000 square feet.

Keeping Up with the OC

Compared to a $175 million listing, the $16.3 million trade of a Laguna Niguel mansion may seem small. However, the closing marked an all-time record for the city. The sale of the Spanish-style mansion in the gated community of Bear Brand Ranch also set a price-per-square-foot record in Laguna Niguel. The home at 7 Searidge penciled out to $1,993 per square foot.

Conclusion

The Prologis mixed-use project in the Arts District could be a significant step forward for the area, bringing new life and energy to a part of downtown Los Angeles that has seen less activity in recent times. The project’s impact, combined with other developments and trends in the region, including shifts in housing policies and significant land listings, will be important to watch in the coming years.

FAQs

• Q: What is the Prologis project in the Arts District?
  A: A 9-acre entertainment campus at a former Greyhound bus station, including studio space, offices, production support facilities, and parking.
• Q: When is the project expected to break ground and be completed?
  A: Expected to break ground in 2027 and be completed two years later.
• Q: What was the outcome of the poll on building restrictions in fire-prone areas?
  A: 70% of respondents were open to restricting home building in such areas.
• Q: What is the significance of the $175 million land listing in Benedict Canyon?
  A: It’s a 33-acre, multi-parcel listing with a controversial past, once proposed for a Bulgari-branded hotel and residences.
• Q: What record did the $16.3 million Laguna Niguel mansion sale set?
  A: It set an all-time record for the city and a price-per-square-foot record in Laguna Niguel.

  Read more

  La Cañada Flintridge ditches appeal to builder’s remedy project

  Prologis shifts gears on Arts District plan

  Benedict Canyon site once set for Bulgari hotel hits market for $175M