Why South Park in DTLA is Hot
Biznow Los Angeles
By Karen Jordan
February 13, 2017
South Park has been jumping in recent years with Staples Center, L.A. Live and the proposed expansion of the Los Angeles Convention Center. With new projects in the works, the momentum is expected to continue into the near future for South Park.
Ellen Riotto said South Park is different from other parts of DTLA because there is a lot of ground-up development in South Park. There is not as much space available in other parts of DTLA even though there is still a lot of development there.
For now, it looks like the popularity of South Park will continue into the future.
“We’ve got 19 projects currently underway, and more than 20 in the pipeline that haven’t even broken ground yet but that have been proposed,” Riotto said.
The large number of high-rise projects going up all over DTLA was discussed at the recent Orange County 2017 Forecast event. It was pointed out most of the projects barely have any office attached.
The majority of the projects are multifamily, high-rise developments. Courtesy of Chris Atkinson Pacific Property Partners managing partner Chris Atkinson with his wife, Melani
One South Park project, the Cambria Hotel, is being developed by Pacific Property Partners.
The roughly $80M hotel near L.A. Live will be an upper-scale brand offering from Choice Hotels International, which also owns Days Inn and Comfort Inn.
Pacific Property Partners managing partner Chris Atkinson said the firm was attracted to the area because of the high demand for hotel rooms there, especially since the area had been underserved in recent years.
“Developers want to be in that area of influence,” Atkinson said. “Economically it makes more sense than other parts of L.A. It’s a dynamic pocket with a lot of amenities nearby.”
Cambria Hotels also is expanding into Orange County, building a location, along with Nexus Cos, in Anaheim at West Katella Avenue and Anaheim Boulevard. It is expected to open next year.
Find out more about South Park and the projects underway there at Bisnow’s Future of South Park event 7:30 a.m. March 1 at TEN50 in DTLA.
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