art gallery signs lease at 5th and spring
Joining the soon-to-open Crocker Club inside the Spring Arts Tower at 5th and Spring is Phyllis Stein Art Gallery (aka PSA), a fine art venue focusing on emerging artists and film production rentals.
With the assistance of the Historic Downtown Retail Project, PSA signed a lease on the building’s ground floor last month and a grand opening celebration is scheduled for Thursday, July 10.
Councilman Jose Huizar will be present to officiate the ribbon cutting ceremony being held at 6:00pm that evening. Immediately following the public event from 7:00pm to 11:00pm is the artists’ opening reception. Complimentary hors d’ oeuvres will be served.
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June 29, 2008 2 Comments
local gay nightlife scene heats up with ‘the hideout’
Early next month, Downtown is “coming out” and raising its bid to become the next gay mecca of Los Angeles.
The Hideout, a new gay lounge/club concept organized by angelenic contributer Bryan Higgins, will be hosted on a bi-weekly basis at Tranquility Base starting Saturday, July 12.
Don’t let the restaurant venue or the event name fool you.
Tranquility’s expansive outdoor lounge with cabanas and fire pit is ideally suited to accommodate large crowds, and the main dining room space will be converted into a dance floor where DJ Digital Imposter is set to spin out house tunes until 2:00am.
To get people in the door (as if the theme isn’t enough), there’s no cover charge. Also, $4-$5 specials for wine, drafts and cocktails will be offered for the first hour of the night. Everyone is invited to attend.
June 27, 2008 57 Comments
bring your appetite, panini cafe opens next week
Possibly the most universally appealing restaurant in the works for Downtown, Italian and Mediterranean eatery Panini Cafe — sitting complete at the corner of 9th and Hope in South Park — is awaiting final approvals for its grand opening next week.
According to Director of Operations Ali Kazemi, doors are confirmed to open by Wednesday, if not earlier (call ahead). Finishing touches will be applied to the dining room and bar area over the weekend, bringing to life the comfortable space sure to bring in casual diners all hours of the day.
June 27, 2008 14 Comments
state funds boost civic park budget
Financial resources dedicated to revamp the four-block civic space between the Music Center and City Hall continue to build.
In a unanimous vote today, the State Assembly authorized the disbursement of another $150 million in Proposition 1C funds, $26.4 million of which will be applied towards Downtown’s Civic Park project. The allocation will be finalized once Governor Schwarzenegger signs the bill tomorrow or Friday.
“With these new funds, the park will have approximately $82 million in the bank when construction is ready to start next summer,” noted Supervisor Gloria Molina of the Grand Avenue Authority in a press release issued this afternoon.
That total includes $970,000 from State Proposition 40 funds and interest earned on Related Co.’s $50 million contribution, who is developing the public park as part of the larger Grand Avenue Project expected to break ground in February 2009.
Officials maintain the completion of the 16-acre Civic Park is mandatory before Related can receive Certificates of Occupancy for The Grand - phase one of the massive $3 billion development.
June 26, 2008 11 Comments
more enhancements to ninth and broadway retail
Spurred by changing expectations on the block, owners of the Ninth and Broadway Building have decided to reposition its commercial space with a more classy aesthetic.
Uniform retail signage has upgraded several storefronts once littered with oversized banners and dated light boxes. Metro PCS, Connie’s Cut & Style and Vista Art Gallery have adopted the fresh new look first given to upcoming tenant SipTea (now expecting a late July opening), along with two other freshly-revamped spaces advertised for lease.
Also fitting the bill is new-comer Nails on Ninth, replacing furniture show-space Room Eighteen on the building’s 9th Street side. According to the owner, the stylish nail salon may arrive by the end of the month.
The Payday Advance business on the corner is the only tenant yet to make the switch.
June 26, 2008 7 Comments
fringe retail strip holds more than meets the eye
Those unfamiliar with the outskirts of City West get out your maps.
Located across from the recently-constructed San Lucas Apartments on 7th Street between Hartford and Garland, sits a cluster of older storefronts on the verge of a revival.
The lineup of current tenants includes everything from a Thai restaurant to dry cleaners, to a clothing outlet peddling American Apparel garments from previous seasons. Most of these businesses have occupied the block for years, supported mostly by the long-standing Hispanic population.
As new developments bring more diversity to the area, naturally, the retail is beginning to follow suit.
June 25, 2008 10 Comments
times mirror square may have changes in store
Last year, the Tribune Company made headlines after it proceeded with an $8.2 billion acquisition of eight key real estate properties around the country that included the five-building Times Mirror Square at 1st and Spring.
Some expert observers at the time surmised that Chairman Sam Zell — known for his ability to reposition investments and maximize their value — may have big plans in store for the landmark Downtown property, home to the Los Angeles Times.
Today, all indicators are pointing in that direction.
According to a USA Today article published this afternoon, the Chicago-based newspaper publisher is enlisting the help of real estate firms to “explore ‘strategic options for maximizing the value’ of Tribune Tower [in Chicago] and Times Mirror Square.” Furthermore, the article also states the company has no intentions of relinquishing its ownership position in either of the properties, which Zell believes are currently under-utilized.
Could some much-need investment dollars be on the way to spruce up the aging asset? Brown parking structure, I’m looking at you.
-Tribune explores ‘strategic options’ for its buildings (USA Today)
-under new ownership, times building fate unclear
June 25, 2008 3 Comments
