520 South Mateo Street (credit: CoStar)
Carmel Partners is shooting for a 2020 completion date for a major mixed-use project in the Downtown Los Angeles Arts District.
The developer is looking to bring up to 600 live/work units, 20,000 square feet of office space, 15,000 square feet of restaurant space, 15,000 square feet of retail space, and 10,000 square feet of “cultural space,” to the site at 520-532 S. Mateo Street, according to Urbanize.
The project will span just under 585,000 square feet in total and include a 150-foot, 13-story building and a three-level underground parking garage.
Carmel Partners will set aside up to 11 percent of the base density for Very Low Income affordable units, which will give the builder up to a 35 percent density bonus, records show. The site is bounded by Mateo Street, E. 4th Place, South Santa Fe Avenue, and Palmetto Street. The addresses are 1310 E. 4th Place and 520, 524, 528, and 532 South Mateo Street.
The architect is W. PA Works Partnership Architecture, which is planning a U-shaped structure with a green courtyard featuring a pool, spa, lounge, greenhouse, and barbeque stations, according to Urbanize.
The rapid pace of change in the DTLA Arts District has local political leaders pushing to create an affordable housing program for L.A. artists. Developments in the area include Hillcrest Company’s 57-unit live-work loft project on E. 7th Street, Greystar’s 320-unit project on Santa Fe Avenue, and a mixed-use project on Mateo Street by Blatteis & Schnur and ASB Real Estate Investments. [Urbanize] — Dennis Lynch
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