Redcar Properties has applied for permits to build a four-story retail and creative office building in West Adams.
If approved, the Los Angeles-based development firm would add 50,000-60,000 square feet of space at 5760–5780 West Adams Boulevard. Architects at Rios Clementi Hale are designing the project.
Chinatown-based Redcar bought the property for $2.7 million in 2016 through an entity named 5760 West Adams Owners LLC, records show. The firm hasn’t yet filed an application with the city.
With the expansion of the Metro Expo Line station, West Adams has recently seen a jump in residents, office tenants and retailers, as well as more investment in real estate.
CIM Group recently filed plans to build an office complex at 5600 West Adams Boulevard, which would add to its expanding portfolio of properties in West Adams. Last year, the firm filed plans to build a 78-unit hotel with more than 48,000 square feet of space at 2545 S. Mansfield Avenue in West Adams just months after it won construction permits for a live/work complex on South Western Avenue a few miles away.
CIM is also building a 10-unit apartment complex at 5135 West Adams Boulevard, and it purchased a warehouse site at 5211 West Adams Boulevard last April for $2.9 million.
The firm 4D Development also recently filed plans for a 115-unit mixed-use project nearby at 5181 West Adams Boulevard.
Source: The Real Deal Los Angeles