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Friday, Oct 7, 2022
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L.A. Rising: Bunker Hill

Bunker Hill has seen a transformation in recent years.

“We affectionately call it the uptown of downtown,” said Nick Griffin, executive director of the Downtown Center Business Improvement District.

In downtown Los Angeles, the historic neighborhood serves as a twin hub.
“Bunker Hill is known as the cultural center of downtown, with the Museum of Contemporary Art, The Broad and Walt Disney Concert Hall. It’s also known as the financial district, with Wells Fargo Center, Cal Plaza CalEdison, U.S. Bank Tower and Bank of America Plaza,” Griffin said.

According to the DCBID director, the significance of the Frank Gehry-designed Grand — a major mixed-use project that includes the Conrad Los Angeles hotel and a José Andrés-run food and beverage program — is that it really makes the case for the continued growth of the residential sector of that area.

The Grand, which is opposite the Gehry-created Walt Disney Concert Hall, officially opened in June.

“In some ways, the Grand is what makes the other ones possible,” Griffin said. “You have a significant amount of fine dining coming in along with the hotels.”

Brookfield opened Halo with a Shake Shack, Danny Boy’s Famous Pizza and Trejo’s Tacos last summer. At One California Plaza, the Watercourt reopened and is now known as the Yard.

“The combination of Halo and the Yard really create very appealing public spaces and amenities,” Griffin said. He also noted the ripple effect — Halo was opened partially in anticipation of the Grand. The Yard reopened in anticipation of Halo.

– Michael Aushenker


Addtional Content: 

Five Questions with Don Peebles

KEY PROJECTS

U.S. Bank Tower Renovation

Location: 633 W. 5th St.Artists paint construction boards during US Bank Tower renovations.

Description: New owner Silverstein Properties, which bought the 72-story building at the start of the pandemic from OUE for $430 million, is planning a $60 million renovation of the tower. The upgrades will include a revamped lobby, a 54th-floor community workspace and outdoor areas.

Owner: Silverstein Properties

Architect: A&I

Estimated Completion Date: Late 2022

 

The Grand

Location: 100 S. Grand Ave.The Grand framed by the Disney Concert Hall across the street. 100 S. Grand Ave. Los Angeles, CA

Description: Related Companies’ $1 billion mixed-use complex includes 164,000 square feet of retail space anchored by chef-driven restaurants, shops, a movie theater, a hotel and luxury residences.

Developer: Related Cos.

Architect: Frank Gehry

Estimated Completion Date: Recently opened

 

L.A. World Trade Center

Location: 350 S. Figueroa St.

Description: The residential project will be 41 stories tall. Once completed it will have 570 condominiums and a pool and tennis courts. Jamison purchased the property in 2004 for more than $53 million.

Developer: Jamison

Architect: Callison RTKL

Estimated Completion Date: 2025

 

Angels Landing

Location: 350 S. Grand Ave.

Description: Angels Landing is a $1.6 billion mixed-use complex featuring 515 hotel rooms. The project will also feature a plaza with retail, restaurants and outdoor space.

Developers: MacFarlane Partners, Peebles Corp., Claridge Properties

Architect: Handel Architects

Estimated Completion Date: Before 2028

 

By The Numbers: Bunker Hill 

Residential

Downtown L.A.

Residential Units Under Construction: 4,577

Proposed Units: 32,413

Apartment Asking Rent Per Square Foot: $3.37

Bunker Hill

Residential Units Under Construction: 1,368

 

Hotels

Downtown L.A

Hotel Rooms.: 8,814

Under Construction: 2,555

Proposed: 7,352

Bunker Hill

Hotel Rooms: 305

Proposed: 515

 

Office

Downtown L.A.

Asking Class A Office Rent Per Square Foot: $3.81

 

Paola Mendez
Paola Mendez
Paola Mendez graduated from Los Angeles Valley College, then transferred to University of California, and now serves as a Receptionist and Office Assistant to the Los Angeles Business Journal. Paola wears many hats in different departments and is trilingual in English, Spanish and French.
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