Prolific global developer Lendlease is making its first major foray into the Los Angeles real estate market with a proposed $600 million mixed-use project in West Adams.
Located at 3401 South La Cienega Boulevard, next to the La Cienega/Jefferson Metro station, the 3.6-acre site is currently occupied by a self-storage facility. The lot would be improved with 260 residential units, 250,000 square feet of creative office space and ground-floor retail.
Together with its partner, Aware Super, an Australian superannuation fund, Lendlease purchased the Westside property for $92 million. The development team anticipates that construction will begin in 2023 with an estimated completion date of 2025. However, a development application has not yet been submitted to Los Angeles City Planning.
The planned mid-rise would encompass 500,000 square feet, undulating from 85 to 100 feet in height. The transit-oriented development would be within walking distance of the Culver City Arts District, home to contemporary galleries, furniture showrooms, hip coffee shops and independent retailers.
Corporate giants like Apple, Amazon, HBO and TikTok have all opened offices nearby, and green spaces such as Syd Kronenthal Park and the Baldwin Hills Scenic Overlook make it a desirable neighborhood for pet owners as well.
The development team not yet named an architecture firm and no official renderings have been released. A handful of other large-scale projects are currently under construction in West Adams, including the Cumulus District and Ivy Station. Together, these two master-planned communities will deliver 1,400 apartments, office and retail space including a Whole Foods Market, a 148-room boutique hotel, and a one-acre public park.
H/T to Commercial Observer