9th & Flower Development Portfolio
Downtown Los Angeles

The Client

·         Shuwa Investments, Inc.

The Challenge

The Solution

• Analyze and determine highest and best use of the property - multi-unit high-rise residential over retail.
• Convince a major retailer (Ralphs Supermarkets) to locate at the site.
• Convince Community Redevelopment Agency (CRA) to provide gap financing for the Supermarket development up to $10 million - thus increasing value of property.
• Create a compelling housing shortage story justifying over-market asset price.
• Identify and convince target developers of the opportunity.

The Results

• 15 offers received within 8 weeks - 4 were over the asking price.
• Developer to develop a 1,400 residential unit project over 100,000 sf of retail.  Total project cost $250 million.