601-625 S. Main project is located on the southwest corner of 6th and Main St. in the heart of the Historic Core of Downtown LA. Currently the site of Joe's Parking, this approved, fully-entitled project will encompass 4 parcels and stand 390 ft. tall to include 38 stories above grade and 452 dwelling units. Upon completion, the building will be the tallest structure in the Historic Core and one of the tallest in all of Downtown Los Angeles. The land is currently used as a parking lot but has all entitlements and plans for a high-rise condominium building consisting of 458,308 residential sq.ft, along with 24,368 retail sq. ft. and 195,000 sq. ft. TFAR. There will be a 5-level above ground parking garage with 858 parking spaces. Estimated project revenue to be over $500 million from developer's sale as condominiums. No affordable housing or union labor requirements. Unit Breakdown: Studio - 11 units; 1-bedroom - 110 units; 2-bedroom - 320 units; 3-bedroom - 11 units Staples Center, LA Live, LA Convention Center, Whole Foods, The Bloc, Grand Hope Park, Pershing Square & the LA Fashion District are all within 1-mile radius. Seller will consider a JV with qualified general contractor. Partner must bring minimum of $30M as capital contribution to the partnership.
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