LOS ANGELES—Blackstone, working in partnership with CityView, says construction has begun for the final phase of Barker Block, a multifamily community in the Arts District of downtown Los Angeles. The final phase will convert an original Angeleno warehouse into 68 state-of-the-art lofts and townhomes for a total of 72,451 square feet. When finished, Barker Block will comprise 309 condo units.

The Barker Block condo units, developed by Blackstone and CityView in partnership with The Kor Group, will be the first for-sale homes in Los Angeles since the economic downturn. The project is the result of a $150 million investment, with $25 million committed for the final phase. Construction of the final 68 units is expected to generate around 100 jobs for the local economy.

Los Angeles Mayor Antonio Villaraigosa, said, “Our City depends on investors making commitments to our future. I would like to thank CityView and Blackstone for making this additional commitment to our Downtown Arts District. They will join the City's Clean Tech Lab alongside other new and exciting things happening in the district.”