Quantcast

The Real Deal Los Angeles

Here are LA’s 5 biggest construction projects approved in April

Third building at Water’s Edge campus secures permit
By Natalie Hoberman | May 03, 2018 05:30PM

Rendering of W3 at Water’s Edge (SPF:architects)

Developers secured permits to build projects in Hollywood, Vernon and East Los Angeles last month, with one company resuscitating an otherwise stalled building.

Rockwood Capital received a $54 million construction permit to build a third tower on the Water’s Edge campus in Playa Vista, according to county records.

In October, the Century City-based developer paid $190 million to DivcoWest and Maguire Partners for the 260,000-square-foot, two-building campus. At the time, it also acquired development rights to build a third 130,000-square-foot building that was part of the project’s master plan, but had stalled due to lack of funds.

Here are the biggest construction permits, ranked by square footage, issued in April by the L.A. Department of Building and Safety. Only commercial and multifamily projects within city limits were considered. Permit valuation is based on the minimum construction requirements set by the Department of Building and does not reflect the total cost of the project.

1. The Academy | 301,530 square feet

Kilroy Realty secured a construction permit for one of the office buildings on its 3.5-acre project in Hollywood last month, reflecting the biggest permit issued in the city in April. The project, dubbed “Academy on Vine,” will span a total of 545,000 square feet and include a mix of offices, multifamily units and retail space. It’s located at 1341 N. Vine Street, which used to house Buzzfeed’s video department. Kilroy’s permit, valued at roughly $116 million, will go toward the construction of Building A. Hathaway Dinwiddie is the contractor.

2. 4051 S. Alameda Street | 248,700 square feet

Pima Alameda Partners received a $16 million permit for its office project last month, designed by O.C. Design and Engineering. The 248,700-square-foot permit will facilitate the construction of Buildings 1 and 2, rising on the vacant plot of land at 1701 E. 41st Street in Vernon. C.E.G. Construction is building the project, which will include office space within a one-story warehouse.

3. Water’s Edge | 132,000 square feet

Rockwood Capital secured a permit to build a third office building at the Water’s Edge office campus in Playa Vista last month. The new construction would span about 132,000 square feet, adding to the 260,000 square feet already completed. McCarthy Building Companies is the contractor for the SPF:Architects-designed property, which is anchored by video gamer Electronic Arts. The modern-looking office building will rise four stories above an underground, two-story parking garage. It’s scheduled for completion in 2020, according to the architect’s website.

4. 5550 N. Bonner Avenue | 44,000 square feet

Over in North Hollywood, a trust related to Leon S. Kaplan secured a $7.9 million-permit to build 44,000 square feet of office space. The project, designed by Bijan Azadi & Associates, would include 48 units across a five-story building. It’ll also have underground parking. The developer hired P&N Construction to build the project, located at 5550-5590 N. Bonner Avenue.

5. Cielito Lindo Apartments | 27, 460 square feet

East LA Community Corp. lined up another permit for its affordable housing apartment complex, named Cielito Lindo Apartments, last month. The construction permit, valued at roughly $6 million, will allow the developer to advance on Phase II of the residential project. The new four-story building will house 29 units, 28 of which will be for low-income residents, and feature one level of subterranean parking. Westport Construction is building the project, which was designed by Gonzales Goodale Architects.