We are excited to announce that the Los Angeles County Board of Supervisors voted unanimously on Tuesday August 9th to move forward on the re-development of three County-owned sites located in the Koreatown neighborhood of Los Angeles. Public Facilities Group has been selected as the not-for-profit special purpose entity and will issue tax-exempt bonds for phase 1 of the three phase $270 million project.
All phases of the completed project will include a community center, multi-family housing, affordable senior housing, mixed-use retail space and a 400,000 square foot office building to house the County’s Department of Mental Health.
Trammell Crow Company is the developer for all three phases of the Vermont Corridor project. Phase 1 is the new County Department of Mental Health headquarters. The development team includes architecture firm Gensler, General contractor Hathaway Dinwiddie Construction Company, and PFG
“We are thrilled to have been selected,” said Public Facilities Group President John Finke. “We had great success partnering with Trammell Crow Company and LA County on the Gateway at Alhambra project and we are honored to be a part of the team chosen by the County to deliver this new facility using the newAmerican Approach for P3 Delivery.”
According to an L.A. Times article, LA County Supervisor Mark Ridley-Thomas, who represents the area, pointed out that the community center is just one piece of the ambitious development plan.
“There will no longer be those blighted buildings essentially discouraging development on the part of the private sector,” he said. “There will no longer be these terrible facilities where our county employees have to work and our constituents have to then seek services.”
Read More on the Project
“A Victory for Koreatown, huge Vermont Corridor Project moves forward” – L.A. Curbed News Blog
“L.A. County supervisors approve first stage of major Koreatown development” – L.A. Times
“Koreatown Will Get A Community Center And 13-Story Tower In Huge Project Coming To Vermont” – LAist News Blog
