Developers in Downtown Los Angeles this week unveiled a $500 million, mixed-use project called Circa that will feature two 35-story towers with 648 luxury rental units, along with 48,000 sq-ft of retail space.
"This project will create 1,000 jobs for the area and inject almost half a billion dollars into our local economy,” said Los Angeles Mayor Eric Garcetti at the July 22 event.
Located in the heart of Downtown's Entertainment District, the 1.6 million sq-ft project is being developed by Hankey Investment Company, Jamison Services Inc., Falcon California Investments and Highlands Capital Inc. The owners are positioning complex next to STAPLES Center, LA Live and the Los Angeles Convention Center in the hopes of creating "an urban synergy of entertainment and residential activity that will rival New York City’s Time Square."
The project team includes LendLease of Australia as general contractor; Wilshire Construction, LP of Los Angeles as construction manager; Harley Ellis Devereaux of Los Angeles as project architect; and Los Angeles-based HansonLA as interior architect.
Scheduled to complete in September 2017, Circa sits on a 2.7-acre site at 12th Street between Figueroa and Flower and will tie together South Park and the Sports and Entertainment District, two of the most dynamic residential and retail submarkets in Downtown.
Construction highlights include two towers, resting atop a 100-ft tall podium that will serve as a two-acre, park-like amenity deck for residents; 1,770 parking spaces; 15,000 sq-ft of digital signage; and 12,500 sq-ft of static signage on the tower crowns. Public amenities will include up to three restaurants on the 12th Street Plaza and up to four major-brand retailers between Figueroa and Flower Street.
Apartments will be built to “condo specifications" in one bedroom, two bedroom and penthouse units ranging from 700 to 3,800 sq-ft. They will boast European high-end finishes, with sweeping views of Downtown, the San Gabriel Mountains and the Pacific Ocean. In addition, residents will have exclusive access to the posh, resort-like amenity deck, with a round lounge pool, private cabanas, spas and a sun deck.
Circa’s Club House located adjacent to the west tower sky lobby will have an indoor bar, pool table, a dozen event screens, and an outdoor bar with a fireplace and viewing area high above the action on Figueroa fronting Staples Center. Also included will be a private chef’s kitchen and dining room, two business centers and a library-wine bar adjacent to the east tower sky lobby.