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Abe Chang's Blog

By Abe Chang | Agent in Los Angeles, CA

Real Estate Developments near Expo Phase II Line

Major developers already have drawn up plans to develop around the anticipated Expo line Phase II.

Culver City is working to build a community of housing, office, retail and restaurants surrounding the Culver City stop.  There are two if not potentially three projected developments that are in the planning stages around the Expo station.  One such project is  Legado Crossing.  Situated next to Surfas, this will be a mixed-use project of 4 story building at the corner of Washington and National.  The second possible development called The Platform, will have approx. 40,000sqft of pure retail.  

Sepulveda/ Exposition intersection is expected to have a huge mixed-use building.  As for retail, the developer is hoping for a full-service grocery store, national retailer and smaller amenities where residents do not need to rely on their cars.

Centinela/Pico corner which will be adjacent to the Bundy/Olympic station is also looking at a 95 unit mixed-use building.  Current drawings are for a 5 story building.  ADC Realty Group plans to develop this corner, which is currently a Rent-a-Wreck car rental place and across from the 10fwy. Nearby, the old Grammy headquarters will also be transformed into a mixed-use complex.  The site of the Grammy headquarters will possibly sit a 4 story building, with 300 rental units and approx 5000sqft of retail space.  

Westwood/Pico corner already has the Westside Pavilion with homes nearby.  So, Expo plans to build a pedestrian walkway, bike paths and a greenway to beautify the area.  

Even nearby neighborhood of Palms is getting into the action with a 7 story mixed-use building on the corner of Motor and Palms.  

Earlier this year, Santa Monica city council approved a $9.5million upgrade to the Expo stops within its borders.  Improved signal lights, pedestrian crossing, bike paths, platforms, etc.  Plans are to build mixed-use complexes near the stations and possibly even a hotel near Colorado and 5th.  

The Bergamot Arts Center is currently under review by the City of Santa Monica and Houston based developer Hines to create Bergamot Transit Village.  A 969,000 sqft center with retail, office and possibly apartments.  

Additional developments in Santa Monica near or adjacent to Expo are on the corners of Lincoln at Broadway, Lincoln at Colorado, Lincoln near Olympic, 4th at Broadway and of course the major Colorado Esplanade development where the Expo line will end.  

The anticipated arrival of the Expo line is not without controversy as Westside NIMBYs continue to fight the expansion of the light rail into Santa Monica. 

Certain areas where the Expo line will is located are in underdeveloped, industrial or currently blighted neighborhoods.  This will change as developers begin building mixed-use and high density residents nearby station stops.  

Times are changing in LA.  Despite the lawsuits filed by Westside neighbors and Beverly Hills Unified against Metro's developments, high density living and efficient mass transit is here to stay.  In my opinion, purchasing real estate near Expo phase II ahead of the line’s arrival and will allow you to purchase an appreciating asset.  

Comments

By Yeprem P. Davoodian, M.A.,  Thu Oct 25 2012, 09:56
Thank you for the valuable information Abe.

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