Developer Onni reportedly scoops up H.D. Buttercup buildings in the Arts District

With a new real estate purchase on the horizon, Vancouver development company Onni Group is claiming its own little nook in the rapidly transforming Arts District. Citing unnamed sources, The Real Deal reports that Onni is about to add six more buildings to its Arts District portfolio:

If the deal ... closes, Onni will own the full square block bounded by Violet and Seventh Place. Onni’s plans for the assemblage are not known, and a representative of the firm could not be reached for comment.

Four of the six buildings—all of which are occupied—are leased by furniture store H.D. Buttercup; the other two contain live-work units. The Real Deal notes the properties were “pitched as having under-market rents that could be increased as short-term leases expire” in listing materials.

This news comes hot on the heels of Onni’s recent purchase of an adjacent property at 2143 Violet Street; it recently submitted plans to construct a 13-story residential building on that lot. Those plans call for 509 live-work units and 288,230 square feet of commercial space.

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• Onni is buying H.D. Buttercup site in Arts District for $34M: sources [The Real Deal]
• Southern Arts District could get new 13-story building with 509 residential units [Curbed LA]
• Mapping the Arts District's never-ending parade of development [Curbed LA]