Joint venture advances with live-work project in Arts District

The complex will include 106 units, office space, retail and a restaurant

Renderings of the project (Credit: Gensler)
Renderings of the project (Credit: Gensler)

UPDATED, May 20, 10: 20 a.m.: A plan to convert an industrial building into a brand new mixed-use complex with housing, office space, retail and other amenities is moving full steam ahead in the Arts District.

A joint venture between two LLCs — Dart Partners and Mateo Arts — is developing the eight-story building. It is set to rise at 1000 South Mateo Street, Urbanize reported. Dart is affiliated with SRG Properties, business records show.

Once completed, the complex will include 106 live-work apartments — nine of which are affordable — and 120,000 square feet of commercial space. Out of that 120,000 square feet, roughly 14,000 square feet will be for retail while another 13,000 square feet is dedicated to a restaurant.

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Renderings by Gensler depict a modern glass-and-steel structure with several outdoor decks.

Amenities include a swimming pool, fitness center and a co-working area. There will be parking for 402 cars.

The LLCs paid $10 million to acquire the site in February 2016, property records show. They filed plans for the project later that year.

Nearby, Bolour Associates is building another live-work project. The Beverly Hills-based firm filed plans to construct a 310-unit structure with 27,400 square feet of commercial space. A 10,000-square-foot warehouse is slated to be demolished to make way for the project. [Urbanize]Natalie Hoberman