In a significant development for Downtown Los Angeles’ Fashion District, the City Market complex has cleared a hurdle as the Los Angeles City Council voted on March 6 to execute a revised development agreement with the wholesaler. More than a decade after the project’s initial announcement, the mixed-use complex is set to transform a former produce wholesale center bounded by 9th, 11th, San Pedro and San Julian Streets, Urbanize LA reported.
The approved 1.7 million square foot development, first given the green light in 2018, includes 945 residential units, a 210-room hotel, a 300,000 square foot educational or corporate campus and nearly half a million square feet of commercial space. The design, crafted by HansonLA, envisions buildings reaching up to 38 stories in height, interspersed with new courtyards and paseos across 10 acres of land.
Despite facing setbacks, including a veto by former Mayor Eric Garcetti in 2020, a revised development agreement has been introduced. This new agreement retains funding for initiatives in the 14th Council District, directing $1.9 million each towards homeless health services, street improvements, and public transportation. Additionally, a $1 million contribution to the Parks Department for Pershing Square has been secured.
One notable change in the agreement is the approach to affordable housing. Instead of a $3.9 million payment into the Council District 14 affordable housing trust fund, the City Market project will set aside 10 percent of the total on-site housing for rent below market rate. This includes 47 low-income units (between 50 and 80 percent of the area median income level) and 47 moderate-income units (between 80 and 120 percent of the area median income level).
The project, originally announced in 2013, is now granted a 20-year period to fulfill the terms of the development agreement. The timeline for completion, initially expected to be delivered in phases over two decades, remains uncertain.
