Onni Group has secured the final approvals needed to redevelop the Times Mirror Square in Downtown Los Angeles, closing the loop on a contentious battle with preservationists.
The City Council voted to landmark two of the historic buildings on the site, allowing the developer full discretion to redevelop the third and most debated one, a 1970s office addition designed by architect William Pereira. https://therealdeal.com/la/2018/07/05/landmark-effort-could-thwart-onnis-development-plans-for-la-times-complex/
The Canadian developer will retain the two Art Deco-style properties on-site, the Los Angeles Times reported.
The council’s decision follows a similar ruling from the Planning and Land Use Committee, issued late last month. In that November hearing, the commission voted to reject an appeal from preservationists wanting to landmark the entire 750,000-square-foot property.
Onni Group purchased the Downtown L.A. complex, which includes five interconnected buildings, for $105 million in September 2016. It has since proposed building a pair of high-rise towers on the site that would house 1,127 residential units, restaurants, retail and office space.
Plans for the redevelopment, designed by Los Angeles-based firm AC Martin Architects, are still under review by city staff. [LAT] – Natalie Hoberman