One Santa Fe Completes Residences

LOS ANGELES—One Santa Fe, a significant mixed-use project in Downtown Los Angeles’ Arts District, has completed its residential construction. The $160-million project is the first to cross the finish line of the $2 billion of development underway in the neighborhood, and it is opening with 260 leases signed, more than 55% of the 438-unit property.

“Overall Downtown Los Angeles has experienced dramatic growth, with 2014 seeing billions of dollars invested,” Charlie Rose, director at Canyon Capital Realty Advisors, which provided financing for the project, tells GlobeSt.com. “The Arts District is now one of the most attractive markets in Los Angeles from an institutional investment perspective. The One Santa Fe development team began looking at the property along Santa Fe Avenue 10 years ago, and Canyon Capital Realty Advisors is pleased to have been involved in bringing this very significant project to life.  It is clear that this trailblazing project has catalyzed growth in the immediate area as evidenced by the developments already underway.  The neighborhood’s high median income coupled with Downtown Los Angeles’s population growth over the last several years has combined to drive demand for high quality retail, residential and creative workplaces, all of which are represented at One Santa Fe.”