The Brockman Lofts Purchased by Simpson Housing Group, Will Become Luxury Rentals in Downtown LA

Posted on April 5, 2012 by | 12 Comments

The Brockman is one of the most beautiful historic structures in Los Angeles and sits in the center of all of the urban renaissance activity (above Bottega Louie as well), making it an extremely attractive location to live for those who want to be near the action

Eighty residential units inside one of Downtown LA’s most beautiful historic structures, The Brockman (built in 1917), have been sitting vacant and unnoticed above one of Downtown LA’s most popular restaurants Bottega Louie. The Brockman is a historic commercial structure that was converted into residential lofts in 2010. But it has endured a tumultuous journey as the economic downturn forced its original developer, West Millennium, into bankruptcy. However, word comes today that real estate firm Colliers International has successfully sold The Brockman to Denver-based Simpson Housing Group, which also owns and operates the Security Lofts at 5th/Spring in Downtown LA.

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Posted in architecture, downtown los angeles, financial district, real estate

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Ritz Carlton Residences at LA Live Introduces Executive Level Housing to Downtown LA

Posted on April 5, 2012 by | 2 Comments

The Ritz Carlton Residences add executive quality housing to Downtown LA that will eventually help attract company executives to move downtown (Photo: Ritz Carlton Residences at LA Live)

LA is no stranger when it comes to ultra luxury condo towers, but most are on the Westside (a more suburban, car-oriented section of Los Angeles). Think of Robert A.M. Stern-designed The Century (in Century City) with its new famous penthouse resident Candy Spelling trading in her 56,500 square foot mansion in the Holmby Hills for her new 16,500 square foot digs on the 42nd floor. That luxury condo trend has continued eastward, making its way to Downtown LA where the Ritz-Carlton Residences at LA Live is one of the few truly executive quality housing options available in our urban center — for now. With prices that range from $800,000 to $9.3 million, the luxury condo units are aimed at wealthy buyers who demand great amenities, high appointments, and attentive concierge service.

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Posted in downtown los angeles, economic development, mass transportation, mixed-use development, office, people, real estate, smart growth

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Kitchen Faire Opening Soon on 6th Street in Downtown LA

Posted on April 4, 2012 by | 15 Comments
Kitchen Faire replaces the former Union Bagel on 6th Street and plans to open in May 2012

Kitchen Faire is a new fast casual restaurant replacing the former Union Bagel on 6th Street between Olive and Grand. It joins a list of other restaurants — such as Industriel and Urbano Pizza Bar — that are progressively changing the street into a mini-restaurant row (like its bigger brother to the south, 7th Street).

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Posted in downtown los angeles, financial district, food, real estate

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One Step Closer: Downtown LA Little Tokyo Budokan Sports Complex Receives $5 Million State Grant

Posted on April 3, 2012 by | Leave a comment

A rendering of the proposed Budokan Sports Complex in Little Tokyo, which has raised $9 million out of $22 million needed to bring this much needed community center to reality (Photo: Budokan of LA)

Yesterday, the Little Tokyo Community Center announced that the Budokan Sports Complex received $5 million in California Prop 84 grant funds. The proposed Budokan would be built next to the Little Tokyo Branch of the LA Public Library at 2nd and Los Angeles St and would entail a 38,000 square foot community center with a four-court gymnasium (for basketball, volleyball, martial arts, etc.) and a rooftop garden with jogging track.

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Posted in community involvement, downtown los angeles, little tokyo, parks, public spaces, real estate, smart growth

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The Counter Signs Now Up, Opening Soon on 7th Street in Downtown LA

Posted on April 2, 2012 by | 10 Comments

The Counter installed new signs over the weekend as the popular burger chain plans to open by the end of April 2012

It’s been almost a year since I first reported that The Counter was going to replace most of the Roosevelt leasing office on 7th Street (a smaller leasing office is being built out next to Counter). About 9 months later, I am eager to see this place open so we can add another eatery to our growing restaurant row along 7th Street. With another restaurant open, another section of our once empty sidewalks will be activated.

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Posted in downtown los angeles, financial district, food, restaurants

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Lipstick on a Pig: $7 Million Renovation Planned for Macy’s in Downtown LA

Posted on March 30, 2012 by | 49 Comments

Macy's Plaza is a poorly designed shopping center in Downtown LA that is not only visually deleterious, but impedes pedestrian connections between South Park and the Financial District, impeding Downtown LA's growth potential

A source in the retail industry has informed me that Macy’s in Downtown LA (inside the Big Brown Bunker known as Macy’s Plaza sitting in the most prime location in Downtown LA’s Financial District) will be going through a “$7 million” renovation in the near future. So I checked with the customer service office inside Macy’s Plaza to see if I could dish up some more info. A lady I spoke to at Macy’s Plaza said she could not confirm much about the details but she was aware that “some kind of renovation” would take place “next year.”

Woop dee doo.

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Posted in architecture, downtown los angeles, economic development, financial district, pedestrian oriented, real estate, retail, smart growth

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Smart & Final (Extra?) Close to Signing Lease at 845 S Figueroa in Downtown LA

Posted on March 27, 2012 by | 18 Comments

Smart & Final (Extra) is rumored to be in close talks with L&R at taking the ground floor space at a newly renovated 845 S Fig office building in the Financial District (Photo: L&R)

Although we all really do love our one true Downtown LA grocery store Ralphs Fresh Fare–so much so that all the business from downtown residents have catapulted the location to one of the highest performing stores in Southern California–downtown residents have been yearning for more grocery options. Variety is the spice of life right? And although we’re not getting a Trader Joe’s anytime soon (much to the chagrin of downtown residents), good news may still be on the horizon as several sources are informing me that LA-based grocery chain, Smart & Final, is close to signing a long-term lease at 845 S Fig in the Financial District.

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Posted in downtown los angeles, financial district, food, restaurants

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Sixth Downtown LA Famima Convenience Store to Open on Broadway in April 2012

Posted on March 26, 2012 by | 15 Comments

The sixth Famima to open in Downtown LA will be on Broadway at the Spring Arcade Building

Back in 2005 when I worked at the DCBID, I had read about Famima in a trade paper (staying on top of trends) and contacted the still-unknown Japanese convenience store chain in an effort to recruit them to open downtown. At the time, I called their corporate office in Tokyo (Family Mart) and spent a good 10 minutes on the line as someone on the other end tried to find an English speaker. Eventually, someone who did speak English came on the line and told me to call their US corporate number in Torrance here in LA.

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Posted in downtown los angeles, economic development, food, historic core, pedestrian oriented, retail

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Finally: LA’s Much Anticipated Expo Line Phase I to Open April 28, 2012

Posted on March 23, 2012 by | 4 Comments

The much anticipated Expo Line Phase I is now expected to open April 28, 2012, connecting Culver City, Expo Park/USC to Downtown LA

Angelenos have been through a range of emotions lately, both highs-and-lows from excited to frustrated, hopeful to being disappointed when it comes to the Expo Line Phase I–a 8.6 mile light-rail line from Downtown LA to Culver City–that has been delayed and delayed as Metro worked diligently under intense public pressure to address some technical issues that kept the very much anticipated rail line from opening on time.

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Posted in downtown los angeles, mass transportation, pedestrian oriented

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Global Consulting Firm, Towers Watson, Eyes Downtown LA for New Office Location

Posted on March 20, 2012 by | 4 Comments

Towers Watson is purportedly looking to lease office space in Two California Plaza on Bunker Hill in Downtown LA

Towers Watson is the world’s largest employee benefits consulting firm by revenue according to Wikipedia. With 14,000 associates around the world, it is a global consulting firm specializing in risk management and human resource consulting. Based in New York and with offices here in LA in both Century City and Universal City, there are several sources informing me that Towers Watson is eyeing Downtown LA for a new office location.

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Posted in bunker hill, downtown los angeles, economic development, office, real estate

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