Rising Realty Partners is planning a massive mixed-use project in Simi Valley

DTLA office developer looks to build apartments, hotel and a conference center

Jul.July 17, 2017 01:45 PM
400 National Way, Nelson Rising (Rising Realty Partners)

Rising Realty Partners is venturing north.

The development and investment firm led by Nelson and Chris Rising — known for its historical office restoration projects in Downtown Los Angeles — is getting ready to propose a massive mixed-use development with a residential component in the Simi Valley.

The developer firm plans to file a proposal with the Valley’s planning commission on July 26 for a project with 190 apartments, a 125-key hotel, a 400-person conference center and 70,000 square feet of flexible commercial space, the Simi Valley Acorn reported. The development, at 400 National Way, would be Rising Realty Partner’s first step into the Simi Valley.

If the project is approved, Rising will either designate about 25 percent of the units as affordable housing or pay an in-lieu fee to the city, according to the Acorn.

Rising acquired the 43.5-acre development site at 400 National Way in 2013. There is a 290,000-square-foot Bank of America building on the parcel that has been vacant for years.

If city’s planning commission greenlights the project this month, it will be presented to City Council for final consideration in August.

Rising expects to complete the project in two years. [Acorn]Subrina Hudson

Related Articles

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

The Park Calabasas and Chris Rising (Credit: Jeff Newton)

Rising Realty fills Park Calabasas with latest big lease

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

510 Park Avenue and CEO of Monster Beverage Rodney Sacks

Monster Beverage affiliate guzzles down industrial project in San Fernando

KTGY CEO Tricia Esser and the Trust Building

Rising Realty signs KTGY Architecture as first tenant at renovated Trust Building

From left: Saeed Nourmand, Michael Nourmand, Grant King and Richard Heyman

Relevant Group sues Nourmand & Associates’ founder, alleging extortion over hotel projects

Centennial founder and CEO Steven Levin with a rendering of the project

Centennial Real Estate approved for sprawling $300M mixed-use village