Onni Group must redesign Times Mirror Square project, but the clock is ticking

The LA City Planning Commission wants a new design and more affordable housing

Los Angeles /
May.May 19, 2020 10:00 AM
Onni Group’s Rossano DeCotiis and a rendering of the project
Onni Group’s Rossano DeCotiis and a rendering of the project

Onni Group has to literally go back to the drawing board if it wants to build its massive mixed-use Times Mirror Square project in Downtown Los Angeles.

The L.A. Department of City Planning directed the company to “fundamentally” change the design and makeup of the project, according to Commercial Observer. A representative for the Canadian developer expressed concern that changes would completely derail the 1.51-million-square-foot project.

Commissioners said they were “troubled” by the lack of affordable housing as well as Onni’s plans for city allocation fees. They also aren’t fans of the project’s design, telling Onni Group to return with a plan “that can stand out in our skyline.”

Onni’s current plan would add a pair of high-rise towers to the Times Mirror Square property, the longtime home of the L.A. Times. Onni planned to incorporate the Art Deco Times Mirror building into the project. The mixed-use development plans called for more than 1,100 residential units as well as retail and office space. Onni, a Canadian developer, acquired the site in 2016 for just over $100 million.

The project had some pushback from people who wanted to preserve a 1970s-era building that would be demolished to make way for the towers, but the City Council had cleared a path for that demolition back in 2018.

Onni Group representative Dan Goldsmith said that delays on top of shutdowns related to the coronavirus pandemic threaten the viability of the project. He said it was “very possible” the project wouldn’t be completed if the economy worsens.

“There’s a saying that time kills all deals, and I’m concerned that with the circumstances that exist here today, time will kill this project,” he said. [Commercial Observer]Dennis Lynch


Related Articles

arrow_forward_ios
Renderings of Omni's new project, along with the original Times Mirror Square building. (City of Los Angeles Department of City Planning, WikiMedia)
City approves Onni’s massive Times Mirror Square redevelopment
City approves Onni’s massive Times Mirror Square redevelopment
Christopher Rising and Sam Manoochehri (Linkedin)
Rising Realty expands into multifamily market
Rising Realty expands into multifamily market
Onni Group president Rossano de Cotiis and a rendering of Times Mirror Square
Onni Group’s 1.1K-unit Times Mirror Square project nears final approval
Onni Group’s 1.1K-unit Times Mirror Square project nears final approval
 Jade Enterprises’ Director of Development Daniel Taban and 888 South Figueroa Street (Google Maps)
Here’s what tenants are paying at Jade Enterprises’ 888 Figueroa in DTLA
Here’s what tenants are paying at Jade Enterprises’ 888 Figueroa in DTLA
David Lawrence Gray and a rendering of the 120-unit tower (David Lawrence Gray Architects, University of Washington)
120-unit Pencil Tower planned for DTLA
120-unit Pencil Tower planned for DTLA
Rendering of 1411 South Flower Street (Housing Diversity Corporation)
Micro-housing to rise in DTLA Opportunity Zone
Micro-housing to rise in DTLA Opportunity Zone
Geoff Palmer and a rendering of the project (Getty)
New renderings show Geoff Palmer’s 1K-unit DTLA apartment project
New renderings show Geoff Palmer’s 1K-unit DTLA apartment project
Rockwood Capital's Walter P. Schmidt, LPC West's David Binswanger, and Deka Immobilien's Ulrich Bäcker. (915 Wilshire, Rockwood, Light and Shine Photography, Deka)
Rockwood Capital, Lincoln Property sell DTLA office tower for $196M
Rockwood Capital, Lincoln Property sell DTLA office tower for $196M
arrow_forward_ios

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

Loading...