Carmel Partners reaches higher at 520 Mateo project in Arts District

Los Angeles /
Jun.June 21, 2018 09:30 AM
A rendering of the latest version of 520 Mateo (Credit: Department of City Planning)

Six months after releasing details for its large mixed-use project at 520 S. Mateo Street, Carmel Partners is thinking bigger.

The New York firm has nearly tripled the floor count on its 520 Mateo construction, to 25 from 13, according to Curbed.

Carmel has also reconfigured the square footage inside from its original proposal. There will be 475 live/work units instead of 600, and 125,000 square feet for retail, restaurant and office space. That’s 90,000 square feet more than originally planned. 

A separate six-story building on Mateo Street will house 105,000 square feet of office space. Carmel will still set aside 11 percent of the live/work units for “very low income” renters, allowing for a 35 percent density bonus.

The city Planning Commission unanimously approved the changes. Carmel purchased the two-acre site in late 2015 for $24 million. The development will replace an industrial building and parking lot.

A disused railway and path that runs between Mateo Street and Santa Fe Avenue will be turned in a walkway that Carmel partner Neils Cotter said will “hopefully become the heartbeat of the project.” [Curbed] — Dennis Lynch


Related Articles

arrow_forward_ios
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Continuum CEO Mark Falcone and a rendering of the project (EYRC Architects via Urbanize)

Continuum Partners, Platinum Equities plan Arts District office tower

Continuum Partners, Platinum Equities plan Arts District office tower
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
Tim Naughton and a rendering of the project (Credit: OFFICEUNTITLED and AvalonBay)

AvalonBay secures $167M loan for Arts District resi project

AvalonBay secures $167M loan for Arts District resi project
A photo illustration of Ron Zeff and Jose Huizar (Credit: Desiree Stone/Getty Images, and iStock)

To live and bribe in LA: The sweet past and sticky present of Carmel Partners

To live and bribe in LA: The sweet past and sticky present of Carmel Partners
California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)

California allows barbershops to reopen, but LA holds back

California allows barbershops to reopen, but LA holds back
Jose Huizar (Credit: Kent Nishimura / Los Angeles Times via Getty Images)

Carmel Partners lobbyist pleads guilty to brokering $150K Huizar bribe

Carmel Partners lobbyist pleads guilty to brokering $150K Huizar bribe
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...