|Ace Hotel glamorizes, spurs development in Fashion District|
Hunter Communications Original News Source:
Link to article:
Downtown Los Angeles Development Boom Will Change LA's Fashion District
Excerpt: "The boom is one of the biggest in memory. It is inevitable that the city’s fashion district will change, and many developers and city planners forecast that the district will follow the arc of other downtown LA neighborhood developments. There will be more retail and residential uses in the district, and much of the new development will serve the fashion business.
There will be more fashion showrooms and offices for designers. But there will be less apparel manufacturing in the district, where land prices have been steadily increasing. The fashion district will be a place to live and play, as well as create, according to developers, planners and designers.
Javier Laval hopes he is one of the future faces of downtown. He co-owns the IX II II studio/showroom for brands Android Homme and Scott X Scott at 912 S. Olive St. at the edge of the fashion district. Laval predicts the new developments will bring more shoppers and a creative workforce to this area. 'This place will become even more of a global destination,' he said. 'This district will be known for fashion, whether it is fashion showrooms or retail.'
If Laval’s forecast sounds ambitious, he’s counting on a new development to attract thousands of tourists to downtown. Portland, Ore.–headquartered boutique hotel chainAce Hotel enjoys an avid following of affluent art- and music-inspired people at its locations in Palm Springs, Calif.; Portland; Seattle; and New York. Construction crews are currently renovating the former United Artists Theater at Broadway and Ninth Street to open an Ace Hotel by the end of this year, according to an Ace representative.
Much of the district’s new development is residential. Just outside of district borders, a few blocks away from the Ace site, Vancouver, Canada–based Onni Group is building a luxury high-rise residential building, called 888 Olive Street, adjacent to a location for a Chase bank at Olive and Ninth streets. The developer will construct a second residential high-rise next to 888 Olive.
Downtown developer G.H. Palmer Associates is building a 600-unit residential building close to the Ace on Olympic Boulevard and Broadway. It is scheduled to open in 2015.
At the other side of the fashion district, Peter Fleming is planning The City Market of Los Angeles. This 10-acre campus is located between Ninth and 12th streets and San Julian and San Pedro streets. Fleming hopes to wrap up the environmental-impact report for the sprawling development by Spring 2014. Fleming forecasts that the campus will be the site of a hotel for people doing business in the fashion district, up to 945 residences, 295,000 square feet of office space, 225,000 of retail and restaurant space, and a college that could be a culinary or an architecture school."