Century Plaza (Credit: WIkimedia Commons)
March is typically an exciting time for anyone remotely interested in college basketball and gambling. Last month also had some “March Madness” in the Los Angeles real estate world, as five developers secured permits for big commercial and multifamily projects. The work is for new and ongoing construction.
Woodridge Capital Partners, which is building a 45-story, 400,000-square-foot South Tower at the Century Plaza, was the biggest approval of the month. Multifamily developer Jamison Services, which has been a dominant player in Koreatown but has also branched out to other parts of the city, ranked second with a development slated for Hollywood.
Here are the biggest construction permits issued in March by the L.A. Department of Building and Safety. Only commercial and multifamily projects within city limits were considered. Permit valuation is based on the minimum construction requirements set by the Department of Building and does not reflect the total cost of the project.
1. Century Plaza (South Tower) | 406,135 square feet
Woodridge Capital Partners secured another permit last month for the $2.5 billion Century Plaza, indicating it is moving one step closer to completion. Valued at nearly $90 million, this permit will be used for the “Phase 4B,” or 125-unit South Tower of the project. The redevelopment project, located at 2025 Avenue of the Stars in Century City, is planning on debuting its 227 condo units, hotel and 100,000 square feet of retail and restaurant space this year. Webcor Builders is constructing the Gensler-designed project.
2. 1718 Las Palmas | 169,600 square feet
Jamison Services was approved for a $30 million construction permit last month for its 224-unit multifamily project in Hollywood, designed by Withee Malcolm Architects. Located at 1718 North Las Palmas Avenue, the six-story building will rise atop a subterranean parking garage, and feature some commercial space on the first floor. In previous filings, the developer indicated that at least 25 units will be set aside as for low-income residents. Jamison paid Champion Real Estate $23 million for the shovel-ready lot in September 2016, The Real Deal previously reported. Wilshire Construction is building the project.
3. Westmore Linden | 71,800 square feet
A senior housing project is inching forward in the Pico-Union neighborhood. Nonprofit developer West Hollywood Community Housing Corporation secured a permit to build nearly 72,000 square feet at 1250 S. Westmoreland Avenue, valued at $12.7 million. The Urban Architecture Lab-designed project will house 93 units spread across a seven-story building, constructed by United Building Company. The $65 million project will cater to low-income residents, according to city planning filings.
4. West Angeles City Place Senior Apartments | 52,000 square feet
Over in South L.A., West Angeles Community Development Corporation, the economic development arm of the West Angeles Church, is building a 70-unit affordable housing complex for seniors. The developer secured an $8.9 million permit to build roughly 52,000 square feet. Out of the 70 units, 40 will be for low-income units while 29 are set aside for very low-income residents. Killefer Flammang Architects is designing the project, set to rise near the future Crenshaw Line station at 5414 S. Crenshaw Boulevard.
5. Skye at Warner Center | 46,360 square feet
A joint venture between Adler Realty Investments, the Quillin Group and Strategic Realty Holdings received a permit to construct a 38-unit apartment building, dubbed Skye, at the Warner Center. Valued at $5 million, the permit will allow Quillin Construction to build a six-story building spanning 46,360 square feet at 20944 W. Vanowen Street in Canoga Park. Daryoush Safai is designing the building.
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