April 02, 2015
NEW LA PLAZA CULTURAL VILLAGE SPARKS RENAISSANCE IN DOWNTOWN HISTORIC CORE
Downtown’s historic core will soon experience a new resurgence of economic and residential activity with the development of the LA Plaza Cultural Village, a 425,000 square foot mixed used complex scheduled to open in 2017.
Ground-breaking is planned by the end of 2015 for the project located adjacent to the LA Plaza campus on two surface parking lots from Spring Street to the Fort Moore Pioneer Memorial between Cesar Chavez and Arcadia streets.
The complex will include 355 apartments, including 20% priced at affordable rates, and more than 47,000 square feet of restaurant and retail space.
“We believe LA Plaza Cultural Village will give the downtown historic area a much-needed economic boost that will bring new vitality and vibrancy to the area,” said John Echeveste, LA Plaza CEO. “More than 500 people will be part of this dynamic new residential community in the northern section of downtown and will have direct access to our museum, Olvera Street and Union Station.
An important component of the project is the creation of a “historic paseo” that will link the Village, LA Plaza, Olvera Street and Union Station with a lushly landscaped walkway that will include new street furniture, lighting and signage that tells the historic story of the area.
The project is being developed by LA Plaza in partnership with Trammell Crow, one of the country’s leading development firms, and the Cesar Chavez Foundation. The project will be privately financed at an estimated cost of $140 million. Noted Los Angeles-based architectural firm Johnson Fain has been retained to design the project in a style that reflects the area’s historical context.
Other elements of the project include a quality restaurant with rooftop dining, a teaching kitchen operated by LA Plaza, and an office of the Chavez Foundation.
“This project helps serve our mission of preserving LA’s storied history by linking together the major historic elements of the city and drawing more attention to our part of the city,” Echeveste said. “It is designed to spark a major economic, social and cultural renaissance in the area that will benefit the entire city.”