The latest in a trio of skyline-altering building projects will take shape in Los Angeles within a couple of years, according to a report by real estate information company CoStar.
The 1.6 million-square-foot Circa project, which will sit on 2.7 acres in the city’s South Park neighborhood, will join two nearby mega-projects: the three-tower Fig Center, which is even larger, and the Metropolis, which broke ground on a 6.3-acre site. Both of those are $1 billion projects.
Four developers are behind Circa, a residential and retail complex that is scheduled to open in fall 2017: Hankey Investment Company; Jamison Services; Falcon California Investments; and Highlands Capital. LendLease will be the general contractor and Wilshire Construction will manage construction of the project.
Circa will create 1,000 construction-related jobs during almost three years of work, Los Angeles Mayor Eric Garcetti has estimated.
The neighborhood near the Staples Center, where Circa will be located, was all but abandoned by developers during the recession, but has recovered as half a dozen major construction projects have gotten underway over the past couple of years. Much of the construction involves apartment buildings, condos and hotels.