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Designation comes a year after the state said city had slowest approval process in state.
The platform will occupy 250K square feet in Showplace Square until 2037.
Partners will renovate 697 market-rate garden apartments for conversion.
Two firms will envision future of 650-acre site near Port of Los Angeles.
Peninsula vacancy rate hits 34%, largest ground-up delivery arrives vacant.
As occupancy tops 96%, multifamily investment sales dropped 90% in third quarter.
If no third-party bid emerges, lenders could take over former URW, Brookfield asset.
City's top office landlord lists two Broadway towers in strategic shift.
Wedbush to vacate namesake tower, DTLA vacancy rate nears 33%.
Downtown mall, 92% leased, pitched as urban icon in market with rising sales prices.