Less than two weeks ago, DTLA Rising broke the very exciting news that AEG had signed a lease taking over the entire Desmond Building in Downtown LA’s rapidly growing South Park district. The beautiful historic structure built in 1916 sat empty and dilapidated, sadly, for many decades even though it sits directly across the street from multiple high-end residential buildings including the South Group condos (Elleven, Luma, Evo) and the Met Lofts. But now the Desmond will be getting the much needed TLC it deserves when AEG — owner of nearby Staples Center and LA Live — relocates their ticketing and live entertainment divisions into the Desmond come next year.
According to a press conference today that was held on the roof of the Desmond, AEG plans on relocating over five hundred employees from its AEG Live (including Goldenvoice) and AXS Ticketing (including Outbox Technologies) divisions into the Desmond. Talk about urban consolidation! What does that mean for South Park? It means you’ll have 500 extra bodies (and I like to see it as 500 potential pedestrians) in search of coffee, lunch, happy hours and other services that could help boost businesses in the immediate vicinity.
So what happens next? Well, the owner of the Desmond, Lincoln Property Company, will be doing some major seismic retrofitting to the structure to allow for the addition of a 7,000 square foot glass pavilion on the rooftop bringing the total leased square footage to 82,000 square feet. Other renovations will include exterior facade rehab, updating building mechanicals, replacing windows, and upgrading interior finishes. The existing steel windows will be refurbished and new storefronts will be designed for the street level. Skidmore, Owings & Merrill (SOM) will be handling the design for renovations including structural retrofitting.
Major construction will begin soon and AEG is slated to move into their new creative office headquarters in April 2015.