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New $500 Mil Mixed-Use Development in Downtown LA Unveiled

7/24/15

Circa, a nearly $500 mil, mixed-use development to soon get underway in downtown Los Angeles’ Entertainment District, was officially unveiled this week. The project, located at 1200 S. Figueroa St, is being developed by a partnership of four entities -- Hankey Investment Company, Jamison Services Inc, Falcon California Investments and Highlands Capital Inc.

Totaling 1.6 msf on a prime 2.7-acre site situated at 12th Street between Figueroa and Flower, Circa will feature luxury living and prime retail that will tie together South Park and the Sports and Entertainment District, two of the most dynamic residential and retail submarkets in the heart of downtown Los Angeles. Anchored by STAPLES Center, LA Live and the Los Angeles Convention Center, the development is set to achieve an urban synergy of entertainment and residential activity that will rival New York City’s Time Square with:

• Two 35-story towers housing 648 luxury rental units located on top of a 100-foot high podium which will serve as a two-acre amenity deck for residents
• 48k sf of prime retail space
• Approximately 1,770 parking spaces for guests and visitors
• 15k sf of digital signage

In addition to the digital signage, there will also be a combined 12.5k sf of static signage facing Flower St and on the tower crowns. Public amenities will include up to three restaurants on the 12th Street Plaza and up to four major-brand retailers between Figueroa and Flower Street.

According to Los Angeles Mayor Eric Garcetti, the project is expected to create 1,000 jobs for the area over the next 30 months and inject almost half a billion dollars into our local economy.

To meet the needs of area residents as well as Los Angeles’ growing population, Circa will provide 648 one-bedroom, two-bedroom and penthouse units ranging in size from 700 sf to 3.8k sf. Rising to three penthouse levels and topping out at 400 feet on the 35th floor, the units will be built to “condo specifications,” complete with luxury and European high-end finishes, all with sweeping views of Downtown Los Angeles, the San Gabriel Mountains or the Pacific Ocean to the west over Staples Center.

In addition, residents will have exclusive access to the posh, resort-like amenity deck, featuring Circa’s signature round lounge pool appointed with private cabanas, spas and a sun deck. The two-acre, exquisitely-landscaped deck will also have multiple BBQ stations with private open-air dining areas, two dog parks with a dog owners lounge, as well as fire pits and fireplaces for ambiance. Circa’s fitness building, also located on the deck, will be equipped with its own lap pool and indoor and outdoor yoga/pilates facilities. Circa’s Club House located adjacent to the west tower sky lobby will have an indoor bar, pool table, a dozen event screens, and an outdoor bar with a fireplace and viewing area high above the action on Figueroa fronting Staples Center. Also included will be a private chef’s kitchen and dining room, two business centers and a library-wine bar adjacent to the east tower sky lobby.

Project consultants include LendLease, serving as the general contractor; Wilshire Construction LP serving as the construction management firm; Harley Ellis Devereaux, serving as the project architect and HansonLA, serving as the interior architect. The project is tentatively scheduled to open its doors in September 2017.






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