What will happen to the giant chair in front of The Reef Building?
That’s one of the most frequently asked questions! This chair has been with the property since 2002. We plan to find a place in the project for this very special neighborhood icon.
Where is the project site?
The Reef Project will encompass two city blocks located just south of downtown Los Angeles and the 10 Freeway on Washington Blvd between S. Hill and S. Main Streets. The approximately 9.7-acre site consists of two city blocks, bounded by Washington Boulevard to the north, 21st Street to the south, Hill Street to the west, and Main Street to the east, and is separated by Broadway.
What is included in The Reef Project?
- 528 apartments
- 895 condominiums
- 21 live/works units
- 208-room hotel
- 160,000 square feet of retail space, including
- 30,000-square-foot grocery store
- 28,000 square feet of restaurants
- 8,000-square-foot fitness studio/gym
- 17,500-square-foot public art gallery
- 2,734 parking spaces
- 1,325 short- and long-term bicycle parking spaces
- 140,000 square feet of open space
- Also, the existing 861,162-square-foot Reef building will remain
What kinds of stores will be in The Reef Project?
The plan is to include a grocery store and pharmacy, as well as multiple cafes and restaurants to serve the community in and around The Reef project. We are committed to including nearly 5,000 square feet of community-serving micro retail with the hopes of attracting local entrepreneurs to open shop at The Reef Project.
What type of hotel will you bring?
We have yet to select a specific hotel operator. However given the programming of The Reef and the proximity to downtown Los Angeles and the Convention Center, we expect the hotel will be a mid-range product geared toward the creative class and business travelers.
What types of residential units will you have?
Plans include 528 apartments and 21 live/work units. The Reef Project will also have 895 for sale condominiums.
how much revenue will The Reef Project create for the City of Los Angeles?
At full buildout, we estimate The Reef Project will contribute a net total of $2.87 million per year to the City’s General Fund. During the construction of The Reef Project, the project will provide one-time revenue of $2.7 million to the General Fund.
How many jobs will The Reef Project create?
The construction of The Reef Project is projected to create more than 5,200 jobs.* Upon completion, the project will create more than 860 permanent new jobs.*
*direct, indirect and induced jobs created
Will you have a Project Labor Agreement for those construction jobs?
Absolutely, we are committed to working with the LA/OC Building Trades Council to ensure that local area residents will have the opportunity secure jobs during the construction of the project.
The PLA we signed includes a goal that 30 percent of all of the labor and craft positions be workers from within Council District 9, veterans, or students from local colleges or universities. It also includes a commitment from the unions to provide opportunities for LA Trade Tech students to participate in construction of the project and apprenticeship programs.
Where are you in the approval process?
The City of Los Angeles recently released the project’s Draft Environmental Impact Report (DEIR). We hope to begin public hearings before decision-makers in spring 2016. There will be numerous public hearings and community meetings as the process plays out.
When will construction begin and how long will construction take?
We hope to receive project approvals in 2016 and we anticipate construction ground-breaking will occur a year after in 2017.
Construction will take place in two phases:
Phase 1 is the development of the western site, which includes a new parking garage for the Reef building, the hotel and 100 units of rental housing. This phase will take approximately 2.5 years to complete.
Phase 2 development can begin two years after Phase 1 begins and will also take approximately 2.5 years to complete.