Category Archives: economic development

New Upgraded Downtown LA Ralphs Gets Fancy New Wine Bar and Murray’s Cheese Shop

Ralphs on 9th Street has just completed an exciting $2.5 million remodeling project after being open for seven years in Downtown LA

Ralphs on 9th Street has just completed an exciting $2.5 million remodeling project after being open for seven years in Downtown LA

Ralphs Fresh Fare opened in Downtown LA as part of the Market Lofts condos in July 2007 and played a major critical role in allowing the downtown revitalization to continue moving forward. The small, but growing population at the time could finally buy groceries (a simple but important necessity) without having to leave their own downtown community. In a nutshell, Ralphs made Downtown LA much more livable and allowed the residential community to grow into what it is today, attracting more businesses to open. Now more than seven years after opening, the downtown Ralphs has gone through a beautiful $2.5 million remodeling upgrade that will keep it up-to-date with the rapidly evolving Downtown LA landscape that’s getting ever more crowded. The competition is heating up as more markets have opened downtown since Ralphs (Smart & Final Extra, Urban Radish), with more coming in the future (Whole Foods, Grow Marketlikely Trader Joe’s), and some oldies-but-goodies being rediscovered again (Woori Market).

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Trader Joe’s Eyeing Location in Downtown LA’s Shrinking Jewelry District

According to multiple credible sources, Trader Joe's is currently interested in the 7th/Olive "LA Jewelry Mart" building

According to multiple credible sources, Trader Joe’s is currently interested in the 7th/Olive “LA Jewelry Mart” building

Like my favorite 90’s kid show Where in the World is Carmen Sandiego?, the hunt for the elusive Trader Joe’s continues in Downtown LA. We were oh so close, but no cigar. Unfortunately, the other deal fell through at The Bloc where it was originally “supposed to” go. Apparently, the location of the proposed market in the back of the shopping center — with its slanted grade change — didn’t jibe with our wonderful purveyors of Two-Buck Chucks. But wait! With the fast-approaching arrival of Whole Foods just down the street, it looks like Trader Joe’s may not want to end up too far away after all — hopefully it sticks this time. According to multiple credible sources, Trader Joe’s is currently eyeing and in early negotiations with a strategically located historic structure at the edge of the moribund Jewelry District.

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Renderings Revealed for Redevelopment of Coca-Cola Building in Downtown LA Arts District

Fourth & Traction, aka the former Coca-Cola factory, is slated to become a creative office and retail hub with this rendering providing an idea what it'll look like (Photo: HLW International)

Fourth & Traction, aka the former Coca-Cola factory, is slated to become a creative office and retail hub with this rendering showing an activated corner (Photo: HLW International)

New owners of the former Coca-Cola factory building in the Arts District have just released some very exciting renderings of the conversion project they plan to implement for the historic production facility built a century ago. The owners — a joint venture between LA-based GPI Companies and NY-based Atlas Capital — plan to invest a substantial amount of funds (in the multi-millions) to redevelop the property into a creative office and retail hub that will restore and highlight the building’s amazing vintage character — including the beautiful red brick that makes up most of the facade.

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Downtown LA Flagship H&M to Carry Alexander Wang x H&M Collection

The limited Alexander Wang x H&M collection arrives tomorrow on Thursday, Nov 6 at the flagship H&M store in Downtown LA

The limited Alexander Wang x H&M collection arrives tomorrow on Thursday, Nov 6 at the flagship H&M store in Downtown LA

Calling all fashion freaks in Los Angeles! Are you ready for the debut tomorrow of the limited Alexander Wang x H&M men’s and women’s collection coming to Downtown LA’s new H&M flagship store? Diehard Wang lovers will be camping out tonight to be first in line to receive a FREE Alexander Wang backpack stuffed with a yummy mystery gift for the first 10 lucky customers. The much anticipated Thursday launch (from LA to NYC) of the new H&M designer collaboration with one of the most renowned designers in fashion will begin promptly at 8 am when doors open early for this sure-to-be-chaotic (read: hair grabbing) occasion.

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New Gap on Broadway Aiming to Open Before Holidays in Downtown LA

A new Gap Factory Store is opening at 737 S Broadway (near 8th Street)

A new Gap Factory Store is opening at 737 S Broadway (near 8th Street)

After finding out that a Gap Factory Store is slated to open on Broadway (near 8th Street) instead of a regular Gap, some people (including myself) were a bit disappointed for obvious reasons. Why would Gap put an outlet store in Downtown LA? With so many new higher end retail stores opening nearby (i.e., Acne Studios, Aesop, OAK NYC, etc), why wouldn’t Gap open a regular store — maybe even a flagship store to make a huge impressive statement like what Zara and H&M did at FIGat7th? Both stores are now one of the highest performing locations in their respective chains in Southern California proving that “untested” Downtown LA is definitely capable of being a viable market for retail.

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Brigham Yen on KCET: “Trendy Grand Central Market in Downtown LA Losing Character?”

SoCal Connected just aired this great episode about Grand Central Market on KCET last night. Reporter Nic Cha Kim chats with the local downtown community (including myself) as well as vendors within the historic food hall (Eggslut, Belcampo, etc), asking some pertinent questions like: How do the new (relatively more expensive) vendors affect Grand Central Market and what does it mean for Downtown LA?

Check out the video above and learn more about Downtown LA’s historic 1917 Grand Central Market on KCET’s website.

Breaking: Intercontinental Hotels & Resorts Coming to Wilshire Grand in Downtown LA

A new rendering of the Wilshire Grand Tower revealed with a new Intercontinental Hotel opening in 2017 as part of the project (Photo: AC Martin)

A new rendering of the Wilshire Grand Tower revealed with a new Intercontinental Hotel opening in 2017 as part of the project (Photo: AC Martin)

Long anticipated, today it was finally revealed what hotel brand would take over the upper portion of Downtown LA’s newest and most exciting ground-up development in years — the Wilshire Grand Tower. The new hotel will be an Intercontinental Hotels & Resorts with 900 rooms. It’ll be the first hotel on the west coast to have a sky lobby (on the 70th floor) and will be considered the largest Intercontinental in the Americas according to a press release.

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Ugly Rite Aid Store Gets Pretty Makeover in Downtown LA, Introduces Wellness Concept

The Rite Aid at 7th/Hope in Downtown LA has completed a significant remodeling job transforming it into the company's new "Wellness concept" creating a higher quality shopping experience

The Rite Aid at 7th/Hope in Downtown LA has completed a significant remodeling job transforming it into the company’s new “Wellness concept” creating a higher quality shopping experience

Drugstores are ubiquitous and a daily part of life in most large city centers in America. Go to New York and you won’t be more than a block or two away from a Duane Reade store. Go to Chicago and the same is true for Walgreens (which actually owns Duane Reade). Even internationally speaking in Taipei (where my dad lives), you’re never too far from a Watsons store. Here in our growing Downtown LA, we have two Rite Aid stores — one at 7th/Hope and one at 5th/Broadway — and both stores have been a complete let down, unfortunately. The one at 5th and Broadway has been a huge thorn in the side of downtown revitalization as residents nearby have continuously complained about the store’s shoddy appearance and lack of concern toward the “shady activities” that take place right outside their front door. Some have even called it a “cesspool.” That’s why it’s so exciting for me to find out that some real positive changes are finally coming. In fact, half of it is already here. The Rite Aid store at 7th/Hope, which was the lesser of two evils, has just completed a, dare I say, beautiful remodeling job that has changed the shopping experience there completely.

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Topaz: New Mixed-User Breaks Ground in Historic Core in Downtown LA

A rendering of Topaz as seen from Main Street with ground floor retail and corner/penthouse units having balconies (Photo: TSK)

A rendering of Topaz as seen from Main Street with ground floor retail and corner/penthouse units having balconies (Photo: TSK)

A rendering of Topaz on the Los Angeles Street side with a large "light curtain" seen in the center cutout of the building (Photo: TSK)

A rendering of Topaz on the Los Angeles Street side with a large “light curtain” seen in the center cutout of the building (Photo: TSK)

With the exception of the Medallion apartments at 4th/Main, there have been no ground-up market rate housing developments built in the Historic Core in Downtown LA. Pretty much all new lofts and condos in the Historic Core that have come on the market over the last decade have been conversion projects taking advantage of the adaptive reuse ordinance. All that’s about to change, however, as numerous high-rise projects have been proposed in the Historic Core that will be the next evolution of Downtown LA’s urban revitalization, filling in all those anti-pedestrian surface parking lots. We won’t have to wait too long for some action because the exciting new chapter for the Historic Core begins now with Topaz, a new mixed-user, that broke ground last Friday near 6th/Main.

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Downtown LA’s Watermarke Tower Sells for Record Breaking $160.5 Million

The Watermarke Tower at 9th/Flower in South Park was sold to ASB Real Estate Investments for a record breaking price of $160.5 million

The Watermarke Tower at 9th/Flower in South Park was sold to ASB Real Estate Investments for a record breaking price of $160.5 million

We all know the Downtown LA real estate market is already hot, but it just got way hotter in here. Escrow closed yesterday on Watermarke Properties’ trophy property, Watermarke Tower, in South Park selling for a record breaking price of $160.5 million. Purchased by Bethesda, MD-based ASB Real Estate Investments (they also just bought a huge property in the Arts District), the 35-story luxury apartment high-rise with 214 units is apparently the most expensive apartment community sold in the state of California — ever. To be specific, it is one of, if not the state’s most expensive trade based on a per unit basis coming in at approximately $750,000 for each unit. The deal was brokered by HFF Managing Director Mark Peterson.

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Brigham Yen on FOX 11: Downtown LA High-Rise Boom, Broadway Road Diet, Trader Joe’s Coming?

Yesterday was so much fun. I was invited by FOX 11 to come on their noon show to talk about Downtown LA (my favorite subject of course) and all the newest exciting things happening that are putting our once ignored urban center back on the map. Check out the video above and here are the topics we covered:

  • New high-rises proposed in the Historic Core
  • New developments blocking sidewalks an issue for pedestrians
  • Broadway’s amazing road diet and pedestrian plazas
  • Retail continues with Macy’s Plaza $180 million makeover
  • And Trader Joe’s rumors!

Thank you again so much to FOX 11 News!

Meet 8th+Hope in Downtown LA: South Park’s New Gleaming 22-Story Glass Apartment High-Rise

8th+Hope is a new gleaming glass tower in South Park adding 290 rental units to the downtown market

8th+Hope is a new gleaming glass tower in South Park adding 290 rental units to the downtown market

Almost two years after developer Wood Partners first began construction, the new 8th+Hope apartment tower began accepting resident move-ins earlier this month in August. Designed by Atlanta-based The Preston Partnership, the modern gleaming tower clad throughout in blue-green glass rises 22 stories high and adds another 290 rental units to the market including: 1, 2, and 2½ bedrooms with square footages ranging from 707 to 1,634. Every single unit gets a private balcony. Impressive.

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Downtown LA’s Ralphs Fresh Fare Market Begins $2.5M Remodeling Project

Ralphs Fresh Fare opened in 2007 as the first mainstream grocery store in central Downtown LA

Ralphs Fresh Fare opened in 2007 as the first mainstream grocery store in central Downtown LA

Ralphs Fresh Fare in Downtown LA is more than just a grocery store. Sure it’s one of the highest grossing Ralphs in their entire chain, but it’s also considered a major milestone in the history of Downtown LA’s urban revitalization. Before the supermarket opened in July 2007 at the corner of 9th/Flower in South Park, the small but growing population of new downtown residents really didn’t have anywhere to shop for groceries. It goes without saying that it was kind of a huge deal when Ralphs opened because it meant you could actually buy groceries without leaving downtown. That was critical for supporting the downtown population growth that allowed for more businesses to open. Now seven years later, Downtown LA is a much different place. You could say we’re finally coming to a tipping point of no return. When it comes to grocery stores, the competition is about to get heated soon. Not only did Smart & Final Extra open down the street from Ralphs last year, but next year a large 42,000 square foot Whole Foods will open just a few blocks away at 8th/Grand, and potentially a new Trader Joe’s will open at The Bloc also just up the street at 8th/Hope. As a result, Ralphs Fresh Fare is starting on an exciting $2.5 million remodeling project that will keep the grocery store attractive and competitive within downtown.

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Renderings Revealed: New Trio of High-Rises Coming to Historic Core in Downtown LA

Hill Tower Lofts seen from the corner of 9th/Hill with the historic May Co garage in the foreground

Hill Tower Lofts: One of three new ground-up towers proposed for the Historic Core are set to break ground as soon as late 2015 (Photo: David Takacs Architecture)

The Historic Core in Downtown LA is where it all started after the adaptive-reuse ordinance was passed in 1999. Developer Tom Gilmore first took advantage of the new ordinance and converted three vacant and dilapidated historic buildings into 230 live/work lofts in what is now known as the Old Bank District at 4th and Main. It’s definitely come a long way since 1999. Over the last 15 years, the Historic Core — with its massive stock of, what else, historic buildings — has become a mixed-use residential hub with increasing numbers of restaurants, bars, and yes, even retail. Now that a good chunk of historic structures has been converted to mostly housing, it’s only logical for the next step in Downtown LA’s evolution toward urban maturity to begin building new ground-up projects as well that will help fill in those surface parking lots that have disrupted the urban fabric with its negative, anti-walking sprawling effects. Now, the exciting continuation of the Historic Core’s revitalization includes three new proposed high-rises set to break ground in the next year: the 38-story SB Omega, the 15-story Broadway Lofts, and the 33-story Hill Tower Lofts.

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Downtown LA’s New H&M and Zara Stores Already Becoming Top Performers in Sales

As word gets out, Zara and H&M in Downtown LA have been increasing steadily in sales, boosting the stores to top performing locations within their respective chains

As word gets out, Zara and H&M in Downtown LA have been increasing steadily in sales, boosting the stores to top performing locations within their respective chains

Can you believe it’s only been less than two years since City Target first opened in Downtown LA back in late 2012? Before that, the idea of having any major retailer downtown was still considered a pipe dream. Sure it was “just another” Target, but to downtown residents, it meant a lot more to us. It meant we could finally buy an iPad or a vacuum cleaner without having to leave downtown for simple basic stuff. And who could’ve imagined that a year later, retailers that would usually only open on the Westside (like on Robertson, Melrose, or Beverly) were actually opening stores downtown (i.e., Acne Studios, Aesop, OAK NYC, etc.) creating the beginnings of a bona fide new shopping district. Thank goodness the retail momentum continues to grow stronger. In fact, two of the most recent exciting additions to Downtown LA—H&M and Zara, both the largest flagship stores in SoCal, which opened 3 months and 2 months ago respectively—are already doing better than anyone could’ve expected.

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