Comment
Rate
CRA Board Approves Orsini III
News Brief
Plans by developer G.H. Palmer Associates to convert the northeast corner of Figueroa Street and Cesar Chavez Avenue into a mixed-use complex were approved by the Community Redevelopment Agency board last Thursday. Plans call for a five-story apartment complex with 210 studio, one- and two-bedroom luxury rental units over a three-level podium containing 13,000 square feet of street-level commercial space and a 477-space parking garage. Plans for Orsini III were initially shot down by the CRA last August; because the proposed development falls within the Chinatown Redevelopment Plan, the CRA must approve any change in land use. The March 6 approval came with several conditions, including a stipulation that once the building reaches 75% occupancy, if tenancy in its commercial-retail space drops below 30%, Palmer must lower retail lease rates to match rates at similar Chinatown properties. Palmer has also committed to working with the Chinatown WorkSource Center, which specializes in employee placement, to recruit local workers during construction of Orsini III. The project will include sustainable design features and pedestrian-friendly elements such as a shaded walkway and sidewalk improvements. G.H. Palmer Associates owner Geoff Palmer was out of town last week and did not respond to a request for comment.
page 2, 3/10/2008
© Los Angeles Downtown News. Reprinting items retrieved from the archives are for personal use only. They may not be reproduced or retransmitted without permission of the Los Angeles Downtown News. If you would like to re-distribute anything from the Los Angeles Downtown News Archives, please call our permissions department at (213) 481-1448.
Plans by developer G.H. Palmer Associates to convert the northeast corner of Figueroa Street and Cesar Chavez Avenue into a mixed-use complex were approved by the Community Redevelopment Agency board last Thursday. Plans call for a five-story apartment complex with 210 studio, one- and two-bedroom luxury rental units over a three-level podium containing 13,000 square feet of street-level commercial space and a 477-space parking garage. Plans for Orsini III were initially shot down by the CRA last August; because the proposed development falls within the Chinatown Redevelopment Plan, the CRA must approve any change in land use. The March 6 approval came with several conditions, including a stipulation that once the building reaches 75% occupancy, if tenancy in its commercial-retail space drops below 30%, Palmer must lower retail lease rates to match rates at similar Chinatown properties. Palmer has also committed to working with the Chinatown WorkSource Center, which specializes in employee placement, to recruit local workers during construction of Orsini III. The project will include sustainable design features and pedestrian-friendly elements such as a shaded walkway and sidewalk improvements. G.H. Palmer Associates owner Geoff Palmer was out of town last week and did not respond to a request for comment.
page 2, 3/10/2008
© Los Angeles Downtown News. Reprinting items retrieved from the archives are for personal use only. They may not be reproduced or retransmitted without permission of the Los Angeles Downtown News. If you would like to re-distribute anything from the Los Angeles Downtown News Archives, please call our permissions department at (213) 481-1448.
 |
 |
|
| Stiffer Sentences For Skid Row Crime | Norooz Celebration Returns to City Hall |
Article Rating
Reader Comments
The following are comments from the readers. In no way do they represent the view of ladowntownnews.com.
You must register with a valid email to post comments. Only your Member ID will be posted with the comments.
Registered users sign in here: |
Become a Registered User |
Popular Searches
