LA Live developer AEG and Robert Maguire, formerly of MPG Office Trust née Maguire Properties, recently announced plans to construct a 600,000 square foot creative office space tower on a parking lot across the street from the LA Live campus in South Park, the Los Angeles Business Journal reports [sub. req.]. The lot is next to the double Marriott tower expected to break ground soon. Gensler, the architect behind LA Live's Ritz-Carlton, will design the building. It's early in the plans, so renderings aren't available, nor is it clear how tall this office building would be (which, if completed, would be Downtown's first ground-up office tower built since '92). The LABJ surmises that, considering the square footage and the higher ceilings given to creative office suites, it could rise to a maximum of about 30 stories. The 78 year old Maguire, driven out of MPG after the tumult of the last few years, sees an opening for creative companies moving Downtown. Specifically, he sees office space similar to his Water's Edge project in Playa Vista, which houses Electronic Arts in a glassy, modern building. There are rumors that NFL's local offices in Culver City could be lured Downtown after their lease is up in 2015, especially if the NFL stadium is a go. But the idea is to also attract less flashy businesses, like law firms, to creative, open spaces, in lieu of regular Class A offices.
· Maguire, AEG Think Big Downtown [LABJ, sub. req.]