Late last month, developer Continuum Partners announced plans to redevelop a cold storage facility on the border between Skid Row, Little Tokyo, and the Arts District with a $2-billion mixed-use complex.
The project, named for its location at the intersection of 4th Street and Central Avenue, would include housing, offices, a hotel, and retail in a series of mid-rise and high-rise buildings designed by Studio One Eleven and architect David Adjaye.
“We are very bullish about the future of Los Angeles, particularly Downtown,” said Continuum Partners chief executive officer and founder Mark Falcone in a news release. “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.”
The Los Angeles Times reported that the project could cost between $1.5 billion and $2 billion to construct. Work could begin within two years and be completed in phases over the following five to seven years.
While the approval and construction of Fourth & Central may remain years into the future, an entitlement package submitted to the Los Angeles Department of City Planning offers a detailed look at what could be in store for the roughly 7.6-acre site.
The project, according to the case filing, would include more than 1,500 homes (including 216 affordable units), 400,000 square feet of offices, 93,000 square feet of retail, a 68-key hotel, and parking for 2,445 vehicles. Plans call for a total of 10 buildings - nine of which would be new construction - arranged on an internal network of streets and pedestrian paseos.
- Building 1: Completed in 1905, Building 1 is the only existing building slated to be retained. Under the Fourth & Central plan, the six-story building at the northeast corner of the project's namesake intersection would be converted to retail, parking, and building amenities for a neighboring residential structure.
- Building 2: Planned to replace a warehouse located just north of 4th Street, Building 2 would arguably be the visual centerpiece of the project. The 44-story, 496-foot-tall building is the largest tower planned in the Fourth & Central development and would include 449 studio, one-, two-, and three-bedroom for-sale condominiums (ranging from 625 to 1,934 square feet in size) above 8,592 square feet of ground-floor retail space and podium parking for 506 vehicles.
- Building 3: Located at the southeast corner of the intersection, Building 3 would be a new six-story edifice containing 81,311 square feet of office space above 14,841 square feet of ground-floor retail space and subterranean parking for 193 vehicles.
- Building 4: The proposed 12-story, 168-foot-tall building would rise directly south of Building 3 along Central Avenue. The mid-rise structure would contain approximately 182,000 square feet of offices above 7,721 square feet of street-fronting commercial space and subterranean parking for 381 cars.
- Building 5: The second tallest structure proposed in Fourth & Central, Building 5 would be a 27-story, 292-foot-tall tower at the southwest corner of 4th and Alameda Streets. Plans call for 425 studio, one-, and two-bedroom apartments on the building’s upper floors, with 11,359 square feet of retail space and parking for 473 vehicles located below.
- Building 6: Located mid-block on the Central Avenue side of the property, Building 6 would be a six-story edifice containing 68 one- and two-bedroom apartments, the proposed 68-room hotel, roughly 12,600 square feet of ground-floor retail space, and parking for 120 vehicles.
- Building 7: A 10-story, 124-foot-tall structure located mid-block along Alameda Street, Building 7 would include 123 studio, one-, and two-bedroom condominiums (including four live/work units) above 12,357 square feet of ground-floor commercial space and parking for 154 vehicles.
- Building 8: Planned at the southeast corner of the project site along Alameda Street, Building 8 would be a 12-story, 166-foot-tall tower containing 137,699 square feet of office space above 4,186 square feet of ground-floor retail space and parking for 285 vehicles.
- Building 9: The third tallest tower of Fourth & Central, Building 9 would rise at the southeast corner of the project site facing Central Avenue. Plans call for a 27-story, 284-foot-tall building containing 312 studio, one-, and two-bedroom apartments (including four live/work units) with 5,076 square feet of ground-floor retail space and podium parking for 321 cars.
- Building 10: The final residential tower, Building 10 would rise on the west side of Central Avenue, replacing a surface parking lot. The 18-story, 181-foot-tall building would include 144 studio, one-, and two-bedroom apartments, accompanied by 152 parking stalls.
To build the 2.3-million-square-foot project, Continuum Partners will require the approval of multiple discretionary entitlements by the City of Los Angeles, including a zone change and a general plan amendment.
Continuum Partners, which is headquartered in Denver, Colorado, is also developing a 100,000-square-foot office building on Santa Fe Avenue in the Arts District, and has submitted plans to the City of Los Angeles for a larger 14-story tower on a neighboring site. Additionally, the company owns a property at 647 S. Mateo Street, which it plans to redevelop at a later date.
- Fourth & Central (Urbanize LA)