What's in the works for next year? TrizecHahn Development Corp.'s vaunted Hollywood & Highland will come online. Caruso Affiliated Holdings' Grove at Farmers Market will near completion.
Office buildings from M. David Paul's Media Studios North office campus in Burbank to the next building at Kilroy Realty Corp.'s Westside Media Center are already going up.
So where are the shovels hitting the soil in L.A. County in 2001?
One distinguishing characteristic of the 2001 construction scene is that a number of projects will be on land vacated by defense-related companies.
"It's very difficult to find a site that has 102 acres right along a freeway in urban Los Angeles," said Bill Bauman, senior vice president of retail properties at Colliers Seeley International.
- That's just what's happened with Zelman Development Co., which is starting work on Burbank Empire Center, a 750,000-square-foot power center on a 102-acre property bought from Lockheed Martin Corp.
City approvals came in November and the center, which would become the largest in L.A. County, is to include extended-stay hotels and retail. Menlo Equities is building the 390,000-square-foot phased-in office portion on 17 acres.
- J.H. Snyder Co. plans to break ground on the West Hollywood Gateway at La Brea Avenue and Santa Monica Boulevard, a 350,000-square-foot project that includes 270,000 square feet of retail and 80,000 square feet of office space. Over in Agoura Hills, Snyder also has a 400,000-square-foot office development in the works.
- Lowe Enterprises will start the first phase of a 100-acre project on a former Northrop Grumman facility in Hawthorne, split between retail, office, high-end industrial and telecom uses.
- Majestic Realty Co. expects to break ground at River Station at North Spring Street in Chinatown, east of downtown L.A., a 910,000-square-foot industrial project.
- Chicago-based developer JMB Realty Corp's $250 million, 700,000-square-foot Constellation Place in Century City will start construction. Entertainment giant Metro-Goldwyn-Mayer Inc. is lined up to move into 17 of the 34 floors. Expect more deals to be announced this year.
- Developer Diversified Realty Corp.'s CityPlace in Long Beach will take shape as the 475,000-square-foot de-malling of Long Beach Plaza. The project will include 328 residential units, a 138-room hotel, and will open up streets that were closed off in 1982 when the mall was first built.
- Vestar Development Co. is expected to close escrow in the first quarter of 2001 on 55 acres formerly owned by Northrop Grumman Corp. in Pico Rivera and start construction on 630,000 square feet of retail. That's part of 157 acres that Irvine-based developer Sares Regis is under contract to master develop.
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