This past June, Glendale-based PRH LA Mart shocked many observers when they announced plans for SoLA Village, a $1 billion development intended for two sprawling parking lots adjacent to South Broadway's REEF Building. Consisting of 1.6 million square feet of new floor area, architectural renderings from Gensler and P-A-T-T-E-R-N-S portray shimmering condo towers and new apartment buildings along the path of Metro's Blue Line. Although the project remains years away from groundbreaking, a new environmental study released by LADCP sheds light on both the timeline and the scale of the development program.
Work would begin with significant modifications to the 12-story REEF Building. Currently, the 860,000 square foot structure offers an eclectic mixture of office, event, and wholesale/showroom space. Under the new development program, PRH LA Mart intends to reorient the property away from wholesale operations and more heavily towards creative office space. The building would also add up to 38,000 square feet of retail and event space, located in ground level stalls and a new rooftop deck.
Ground-up construction would also begin with the west block, on a site currently occupied by a parking lot and an inexplicable giant chair. A 19-story hotel tower would rise immediately south of the REEF, creating 208 guest rooms in an approximately 240 foot tall structure. An eight-story parking garage would replace the existing surface lot, creating 1,375 vehicle stalls that would serve both hotel guests and REEF tenants. Up to 21 live/work residential units would screen the parking structure along Broadway, while landscaping and architectural elements would obscure the garage from view along Hill and 21st Streets.
However, the more aggressive development program is reserved for the east block. Located at 1933 South Broadway, plans call for up to 895 condominium units, to be located within high-rise towers of 35 and 32 stories. The tallest structure, rising to an architectural apex of 420 feet, would become the tallest structure south of the Downtown freeway ring. A series of six-story buildings would house the development's 528 residential units, running the length of the block between Washington Boulevard and 21st Street. At ground level, the project would offer a landscaped central plaza, retail and restaurant space, a grocery store, a gallery and a fitness center. Parking accommodations would be located on four subterranean levels, featuring at least 1,358 vehicle stalls.
Given the ambitious scope of the development program versus current market conditions, PRH LA MART has estimated a relatively conservative construction timeline of 60 months. Demolition work on the west block could commence as early as 2016, followed by approximately 30 months of grading and construction. A build out of the more grandiose east block would require approximately 32 months, including excavation for underground parking levels. Should everything go to plan (knock on wood), completion could occur as early as the end of 2021.