The Medallion mixed-use project at Fourth and Main is an odd duck for DTLA--it opened in 2010 with 96 apartments and 200 commercial spaces, originally intended mostly for discount/wholesale businesses. But a couple years later and the apartments are 98 percent full, while only about 20 of the retail units have leased. Now developer Saeed Farkhondehpour is planning an overhaul to bring a lot more action in--first up was news last week that the Texas-based theater minichain Alamo Drafthouse would open in a new building on the property. Now the Downtown News reports he's also working on bringing DTLA's first permanent farmers' market, to a 27,000-square-foot space originally intended for a grocery store (he's collaborating with the guy who runs the markets at Pershing Square, FIGat7th, and more); it would start with at least 50 vendors. Farkhondehpour has also made deals with a few restaurants and plans to renovate Medallion's mall and piazza level to accommodate them: "He plans to add kitchen facilities to retail spaces housed in a third building that sits in the plaza. A small street that circles the area will be repurposed as a pedestrian walkway. Plans call for more trees and grass." And, since those rental units are doing so well (and Downtown has an apartment shortage in general), he hopes to add another 300 apartments in three buildings on the Main and Third sides. Those plans are "at least a year away" though.
· Medallion 2.0 Could Bring Market, Movie Complex [Downtown News]
· Alamo Drafthouse Theater Planned By Historic Core's Medallion [Curbed LA]