News of a reworked lease and a construction start deadline show that One Santa Fe may actually be back. For years now we've been teased with morsels of news and expected groundbreakings for the Michael Maltzan-designed office and retail extravaganza destined for the Arts District. The project includes 438 apartments on five levels and 79,000 square feet of retail space with 750 parking spots. The four-acre lot across from SCI-Arc that One Santa Fe will occupy across is owned by the MTA, which has given developers a 65-year lease. Recently, that lease was reworked to allow the project to be eligible for additional HUD funds, $4 million of which have already been released. As part of the remix, Metro will lease 44 percent of the retail space and the new contract requires work on the site to get going by January 2012. Renderings also show a pedestrian bridge that will connect the complex to a new Metro Red Line station to be built in the adjoining rail yard. Metro's Planning and Programming Committee is set to hear the motion today.
· One Santa Fe to Get Reworked Lease, Metro as Retail Tenant [Blogdowntown]
· Maltzan-Designed One Santa Fe Project Crops Up Again [Curbed LA]