Los Angeles-based Legendary Group plans to build a 350,000-sq. ft. speculative creative office in the expanding downtown Arts District.
The developer says it proposes to build a 17-story Class A project called Above at 411 South Hewitt St. The structure will include 311,000 sq. ft. of office space over 12 floors along with 22,000 sq. ft. of ground-floor production space and room for retail or food/beverage uses.
Commercial Observer (CO) reports that construction will start next year and is expected to be complete by early 2026.
“The project (calls for) multiple, high-clear spaces on the ground floor and throughout the stack, which is tailored toward an explosion of production and creative tenants in need of space with volume,” Winn said in a statement. “Of the 4 million square feet of new inquiries we have seen over the last 12 months in the Arts District, over 25 percent of these requirements have included a need for high-clear space, and Above has been designed to meet the demands of the market.”
The submarket Arts District is a federally designated opportunity zone, which allows investors to defer capital gains taxes should they invest in real estate.