Los Angeles’ regional bioscience industry might get a boost as n office complex will soon be converted into a life sciences campus at 123 Figueroa Street in Downtown, Los Angeles. The project proposal includes the redevelopment of an office complex built in the 1980s into a campus dedicated to life sciences and research. BEP Helix, a company run by local biotech investor Ben Pouladian, is reportedly purchasing the leasehold interest in Park Downtown Los Angeles (Park DTLA). The land itself is owned by CRA/LA, and leased to Bunker Hill Park Ltd. under a deal which is scheduled to expire in 2077.
Work is underway at 1800 Tapo Canyon Road, in Simi Valley. The project is by Stream Realty Partners (Stream), a national real estate services, development, and investment company, and joint-venture partner QuadReal, a global real estate investment group. When completed it will bring 344,100 square feet of Class A industrial space to the area.
A new residential building is rising at 2870 Olympic Boulevard in Koreatown, Los Angeles. The project proposal includes the development of a seven-story apartment building, replacing a commercial building and single-family home at the southeast corner of Olympic Boulevard and Kenmore Avenue. Real estate development firm LiveWorkCreate is the project developer. EWAI is designing the apartment complex.
A new infill residential project is in the works at 1775 Beloit Avenue in Sawtelle, Los Angeles. The project proposal includes the development of a housing complex on a narrow site next to the I-405 freeway.
Work is progressing at the Runkle Canyon development, in Simi Valley. The project is bringing a variety of housing to the hills, including single family homes, a senior housing condominium complex, and a senior recreational center. Runkle Canyon, LLC is the developer, made of a joint venture between KB Home and Lennar Homes.