Development Opportunity
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- Gwendoline Kelley
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1 Development Opportunity Pricing 960 Main Street $3,995, Main Street $12,000,000 JLL has been exclusively retained by ownership to market the development opportunities at 960 and 1000 North Main (the Property ). These approximately 0.60 and 1.82 acre land sites (together, 2.42-acres) is in the rapidly developing Chinatown neighborhood of downtown Los Angeles. These sites are positioned in one of the most historic submarkets in Southern California and represents a rare opportunity for an iconic large scale redevelopment. Property Specifications Address 960 Main Street, Los Angeles, CA (0.60 Acres) 1000 Main Street, Los Angeles, CA (1.82 Acres) Land Size 105,415 SF (2.42 acres) of land APN , , Zoning Urban Center Current FAR 4.1 (Buyer to verify. See CASP zoning information for further details)
2 Opportunity to Create An Iconic Space Chinatown s mix of history and art favors iconic, place-making developments and this site is a blank canvas ripe for redevelopment in a neighborhood going through a transition into an urban center. Moreover, market fundamentals support a multitude of potential build-out options, evidenced by multiple creative office, residential, and retail developments underway in the area.
3 The Completion of Cornfields Park The completion of a $20 million renovation project of the LA State Historic Park (aka The Cornfields ) will provide a tremendous outdoor amenity space and is expected to bring increased traffic counts and more affluent visitors to the area. Excellent Transit and Connectivity Positioned just two blocks from the Chinatown Metro Station, the site benefits from the expansion of LA s Metro System. It is also at the intersection of several major freeways with access to the 5, 101, 110, 10, 60, and 2 freeways all within close proximity.
4 Avenue 26 Workman St Sichel St Urban Center Zoning Development Potential This new zoning is part of the Cornfield Arroyo Specific Plan (CASP) that was recently adopted by the City of Los Angeles for this area. The stated intent of this zoning is to provide areas where residential, commercial, and light industrial uses can co-locate horizontally and/or vertically as well as facilitate the development of mixed-use and affordable housing projects. Riverside Dr Idell St Avenue 28 Jefferies Ave Figueroa St Cypress Av Huron St River St N Lacy St Arroyo Seco Ave Marmion Way Avenue 34 Avenue 33 Avenue 32 These parcels are specifically part of the Urban Center zone which is meant to encourage hybrid industrial uses, but provides for commercial office, retail, multifamily, and hotels within the limits described in the CASP documentation. For more details, please see the full CASP zoning report. N Brooks Ave N Brooks Ave Academy Rd W Amador St Solano Ave Academy Rd Jarvis St W Park Row Figueroa S t Los Angeles River 110 Avenue 19 San Fernando Rd Barranca St Avenue 21 5 Artesian St Avenue 23 Humboldt St Avenue 25 Avenue 31 Avenue 30 Avenue 29 Avenue 28 Avenue 27 Pasadena Ave Avenue 26 Zoning Districts S pruce St Phoenix St Avenue 18 Avenue 19 San Fernando Rd Pasadena Ave Avenue 22 Avenue 24 Daly St Workman St Sichel St Los Angeles River and Arroyo Seco Solano Ave Casanova St Specific Plan Area Manitou Ave Cottage Home St Bishops Rd Savoy St Spring St Spring St Avenue 20 5 Urban Center Zone Urban Innovation Zone Urban Village Zone Greenway Zone 110 Baker St Naud St Naud St Avenue 16 Avenue 17 Albion St Darwin Ave Mozart St Vallejo St Mozart St RD2-1 (No Change) RD1.5-1 (No Change) Hill St Elmyra St Naud St Leroy St Main St Gibbons St Lamar St Clover St Avenue 19 Avenue 20 Avenue 21 Main St No Change - CM Public Facilities Open Space Alpine St College St Spring St Bruno St Rondout St College St Llewellyn St Rondout St Ann St E Bloom St Cardinal St Bolero Lane Moulton Ave Alhambra Ave Metro Gold Line & Station Alameda St Alhambra Ave
5 Chinatown Chinatown represents one of the largest geographies in Downtown primed for revitalization. The area is adjacent to the Civic Center, Little Tokyo, the Arts District, Boyle Heights, Echo Park, Elysian Park, and Lincoln Heights and is a key intersection for the path of development in the region. Thien Hau Temple Chego Charlie James Gallery Scoops Dodger Stadium Blossom Plaza Coagula Curatorial Grand Star Jazz Club Hop Louie s General Lee s Bar Homeboy Bakery Nicks Cafe Chinatown Station Cornfield Park Art Gallery Chinatown Lofts Creative Office Future Development Site Mixed Use California Endowment Legend Art Gallery Residential Business Restaurants Entertainment Worship Lincoln Heights Cypress Park Entertainment Health Gold Line Chinatown Station Gold Line
6 Conceptual Massing Study Exclusive Advisors All inquiries should be directed to one of the following representative; Rob McRitchie Vice President T rob.mcritchie@am.jll.com The Chinatown - Senior Lofts 837 N. Spring - Creative Office Chinatown Station - Planned Metro Station Nicole Mihalka Senior Vice President T nicole.mihalka@am.jll.com Ben Stapleton Vice President T ben.stapleton@am.jll.com Chinatown Lofts - Fully Entitled Blossom Plaza - Under Construction Cornfield Park - Under Construction Financing Expertise: Reid McGlamery Senior Vice President T reid.mcglamery@am.jll.com Downtown Los Angeles 515 S Flower Street, Suite 1300 Los Angeles, CA T
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