{"id":37187,"date":"2020-02-21T16:26:52","date_gmt":"2020-02-21T14:26:52","guid":{"rendered":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=37187"},"modified":"2020-02-21T16:27:00","modified_gmt":"2020-02-21T14:27:00","slug":"mitsui-fudosan-tower-breaks-ground-downtown-los-angeles","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/02\/21\/mitsui-fudosan-tower-breaks-ground-downtown-los-angeles\/","title":{"rendered":"Mitsui Fudosan Tower Breaks Ground in Downtown Los Angeles"},"content":{"rendered":"\n

Mitsui Fudosan America has begun site clearance for its high-rise in downtown Los Angeles. Replacing a parking lot at the northeast corner of Eighth and Figueroa streets, the 42-story, mixed-use, residential tower is slated for completion within three years. Lendlease Construction is the project\u2019s general contractor. <\/p>\n\n\n\n

The project\u2014which got the green light last summer\u2014calls for 438 apartments, including one-, two- and three-bedroom units; above-grade parking; and roughly 7,500 square feet of retail space on the ground floor. Mitsui Fudosan\u2019s new project rises across the street from FIGat7th\u2014an open-air shopping center nestled between the Ernst & Young Plaza and the 777 Tower, two of the most imposing office properties in downtown Los Angeles<\/a>. <\/p>\n\n\n\n

\"\"
Planned sidewalk improvements and promenade. Rendering courtesy of Mitsui Fudosan America <\/em><\/figcaption><\/figure>\n\n\n\n

Architecture firm Johnson Fain designed the project. Details\ninclude a glass fa\u00e7ade integrated with LED lights and crowned with an\nilluminated cornice. The 530-foot tower will rise above a podium structure\ncontaining three floors of above-ground parking with 505 spaces, as well as an\namenity deck and ground-floor retail. <\/p>\n\n\n\n

Furthermore, as a requirement of approval by the Los Angeles City Planning Commission, the podium will also be encased in a glass fa\u00e7ade that matches the residential tower. Complementing the city\u2019s recently completed MyFig improvements, Eighth and Figueroa\u2019s pedestrian promenade\u2014lined with sidewalk cafes and shade trees\u2014will also facilitate pedestrian access to the mall. <\/p>\n\n\n\n

\"\"
Eighth and Figueroa podium structure. Rendering courtesy of Mitsui Fudosan America<\/em><\/figcaption><\/figure>\n\n\n\n

Stuart Morkun, vice president of the Los Angeles office of\nMitsui Fudosan America, said the company is \u201cpleased to commence the next phase\nof this project and make our contribution to the renewed vitality and dynamism\nof Figueroa Street and the Financial District. The beginning of construction\nmarks Mitsui Fudosan\u2019s continued commitment to the revitalization of downtown\nand the next phase of our investment that began more than 30 years ago.\u201d <\/p>\n\n\n\n

The company has owned this lot since the 1980s and had previously considered improving it through office or hotel development. According to Urbanize Los Angeles<\/em><\/a>, Mitsui Fudosan America also owns a parking structure at the intersection of Eighth and Hope streets, which the company is redeveloping into a mixed-use high-rise. Documents filed<\/a> with the city detail the project as a 45-story building that includes 547 residential dwelling units (with an option to increase that total to 580); roughly 7,500 square feet of commercial space; and seven levels of parking, three of which would be below ground. <\/p>\n\n\n\n

\"\"
Eighth and Figueroa tower and podium. Rendering courtesy of Mitsui Fudosan America.<\/em><\/figcaption><\/figure>\n\n\n\n

Lendlease Operations Director, Caleigh Raymer, added that her company \u201cis honored to have been selected as the general contractor for the Eighth and Figueroa project for Mitsui Fudosan America. The Eighth and Figueroa residential tower will be a notable architectural gem added to the Los Angeles skyline<\/a>, right in the heart of bustling Figueroa Street. Lendlease has been working with Mitsui Fudosan and their consultant team over the past three years and we are very excited to see this project break ground. We are committed to delivering a successful project, safely and sustainably.\u201d<\/p>\n\n\n\n

Property renderings courtesy of Mitsui Fudosan America.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Mitsui Fudosan America has begun site clearance for its high-rise in downtown Los Angeles. Replacing a parking lot at the northeast corner of Eighth and Figueroa streets, the 42-story, mixed-use, residential tower is slated for completion within three years. Lendlease Construction is the project\u2019s general contractor. The project\u2014which got the green light last summer\u2014calls for…<\/p>\n","protected":false},"author":48,"featured_media":33229,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[738,386],"tags":[6695,229,199],"class_list":["post-37187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-california-real-estate","category-la-real-estate","tag-downtown-los-angeles","tag-los-angeles-commercial-properties","tag-los-angeles-residential-listings"],"yoast_head":"\nMitsui Fudosan Breaks Ground at Eighth&Figueroa | PropertyShark<\/title>\n<meta name=\"description\" content=\"Three decades after purchasing the lot, Mitsui Fudosan finally breaks ground on Eighth&Figueroa. 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