City of Los Angeles set to enter into an exclusive negotiation agreement with Hudson Pacific Properties
By Dolores Quintana
There is now a plan in motion to redevelop Marlton Square in Baldwin Hills, as reported by Urbanize Los Angeles.
The Economic and Workforce Development Department’s staff has made the recommendation that the City of Los Angeles negotiates exclusively with Hudson Pacific Properties. This was first reported by Los Angeles Business Journal.
Marlton Square is located at 3700-3916 W. Martin Luther King Jr. Boulevard and 4011-4027 S. Marlton Avenue on 5.7 acres of property owned by the city of Los Angeles and CRA/LA. This negotiation would be set up for a term of 12 months to start. The terms would call for two optional 90-day extensions that the city could opt into.
The proposal for the redevelopment submitted by Hudson Pacific would include two five-story office buildings for a total of 300,000 square feet. This multi-use would include retail space for the Diaspora grocery store created by Tiffany Haddish, the black-owned Good Vibes Only food incubator and the Cropswap LA, an urban farm, that would provide produce for the other two retail spaces.
This proposal also includes Hudson Pacific’s offer to purchase the land parcel that is owned by the city of Los Angeles for the price of $13 million but the proposed price is not final and would be set by the City’s appraisers. Once an agreement has been reached, Hudson Pacific would be treated like any other developer and be required to go through all of the usual city processes to get approval for the building subject to the city’s zoning regulations and building ordinances.
The development’s design will be handled by Perkins & Will and landscaping will be designed by Agency Artifact.
