Charles Company wants to nearly double the office space it had planned for its Melrose Triangle project in West Hollywood.
The firm wants to bring the office component up from 137,000 square feet to 245,000 square feet, according to Commercial Observer. That kind of change isn’t uncommon for projects, especially amid the volatile market that the pandemic has created. But the twist on this one is that Charles Company broke ground on the project in May. Gensler is designing it.
Charles Company secured approvals for the earlier version of the project nearly seven years ago. The development site is a triangular lot at 9060 Santa Monica Boulevard.
To make space, residential units would be reduced from 76 to 41 and retail space reduced from 82,000 square feet to 66,000 square feet.
The pandemic hit the Los Angeles office sector harder than any type of real estate, except for possibly hospitality.
But Jack Kurchian, Melrose Triangle’s project manager, expects future demand to be strong, according to the report. Others have expressed similar optimism.
“The demand for additional office space in West Hollywood has been strong for years, and the pandemic has only intensified the need for low-rise, creative office space, along with the call for more outdoor open space,” CO reported.
West Hollywood’s 6 million square feet of office space is 85 to 90 percent leased, according to JLL.
Developer Faring is also reworking its Robertson Lane project a few blocks away for the same reason — to incorporate office space.
Unlike at Melrose Triangle, office space was not part of Faring’s previous version of Robertson Lane. Faring wants to eliminate 100 hotel rooms from the project and add 35,700 square feet of office space. [CO] — Dennis Lynch