The site’s new owners seem to be getting down to business
Well that was quick. Just a week after completing the purchase of the LA Times complex in Downtown LA, it appears that new owner Onni Group is already prepared to start developing the site.
Plans were filedTuesday for the construction of a new 30-story mixed use project on a lot that currently houses an employee parking structure. The proposed project includes 107 condominium units, 7,200 square feet of commercial space, and a hefty 534,044 square feet of offices.
Onni Group, a Vancouver-based developer, reportedly paid $120 million for the complex, and also has plans to redevelop the newspaper’s main offices across the street from the parking lot. Those plans would likely include the demolition of the William Pereira-designed structure added to the complex in the 1970s and an overhaul of the classic 1930s moderne building along Spring Street. It’s not clear yet whether or not the paper will remain in the complex once its lease expires in 2018.
The parking lot, which is located on Second Street between Broadway and Spring, is also the future site of a Metro station being constructed as part of the Regional Connector project that will eventually link the Blue and Expo Lines to Union Station.
In 2014, the LA Times reported that a proposed second entrance to the station had been scrapped because of the possibility that then-owner Tribune Co. might develop the location. Now Onni group has stepped in and appears to be doing just that.