Hines and Len Blavatnik’s Access Industries are looking to build a 470,000-square-foot office and retail buildings in the Arts District, one of the larger office projects proposed since the pandemic.
Plans filed with the city call for a 13-story building at 2045 E. Violet Street, with 450,000 square feet of office space above about 18,000 square feet of retail, according to Urbanize.
The building would rise next door to the renovated Ford Factory building. Access bought that property at 777 Santa Fe Avenue for $195 million in 2019. The deal came as Access subsidiary Warner Music Group was moving into the 271,000-square-foot complex.
For the office development project, Hines and Access are requesting entitlements, which would also allow them to expand the Ford Factory building by another 150,000 square feet, according to the report. It comes at a time when the Los Angeles office market continues to struggle.
This will be Hines’ first project in the Arts District, which has been attracting major developers for years. Onni Group, Related Companies, and Continuum Partners are all planning projects in the neighborhood.
[Urbanize] — Dennis Lynch