Forge at Alloy, a new six-story midrise mixed creative office and retail space is under development on Mateo Street in the heart of Los Angeles' Arts District.
The development of approximately 1 million square feet combines a six-story, 127,500 sq. ft office building with an adjacent retail space, and a new 35-story, 475-unit, apartment tower. 18,000 square feet of retail space is being created on the ground floor.
The facade has been inspired by the historic warehouses and factories which are a defining feature of the Arts District, with the building featuring high ceilings and abundant natural light.
Forge at Alloy will offer a tremendous single-tenant headquarters opportunity or a multi-tenant environment that can accommodate a variety of industries.
Between the office and apartments towers, an an elevated outdoor space includes seating and lounge areas will be available to office tenants, who will have additional use of a rooftop deck.
The development also includes above-ground and subterranean parking spaces.
A highlight of the project will be a new pedestrian and retail paseo, formerly a rail spur, that will connect Mateo Street and Santa Fe Avenue.
The paseo is envisioned as a year-round gathering place with programmed activities such as public art installations, outdoor concerts, movies, and other special events.
Completion and delivery of the project is forecast for the third quarter of 2024.
Cushman & Wakefield Vice-Chair Mike Condon Jr, and colleagues Brittany Winn, McKenna Gaskill, Pete Collins, and Steve Marcussen from the company's LA office have been retained by Carmel Partners to lead the leasing efforts.
Condon says: “Forge at Alloy is a first-of-its-kind ground up creative office development that was very thoughtfully designed and strategically located in the heart of Downtown Los Angeles’ Arts District, a desirable submarket with immense growth potential.
"This is a luxury development that will bring together upscale residential, office space, and a highly curated mix of retail and event programming, becoming a sanctuary and a hub for creativity, innovation, and connection.
Forge at Alloy will offer a tremendous single-tenant headquarters opportunity or a multi-tenant environment that can accommodate a variety of industries.”
“We were drawn to the opportunity to develop a mixed-use project in the Arts District, which has been a vital area for commercial and residential growth and demand.
Our vision is to create a unique destination which presents a true live-work-play environment while embodying the industrial aesthetic and creative energy of this cultural hub of Los Angeles,” says Will Cipes, Senior Vice President Development at Carmel Partners. “This will be a special, multi-use experience whereby office tenants at Forge at Alloy will also have a convenient, high-end amenitized residential option right next door.
And in that same vein, on-site residents or those in the surrounding area will have a convenient workplace that is walkable to many popular dining, shopping and entertainment hot spots within the Arts District, including Alloy’s retail and restaurant Paseo."
Forge at Alloy is positioned in the core of the Arts District and centrally located within minutes of the Interstate 5, Interstate 10 and Highway 101 interchange providing great access to the Los Angeles freeway network and throughout the region.
The property is also nearby existing and future public transportation services.
McKenna Gaskill, Associate, says: “The Arts District is helping reshape Los Angeles from a sprawled metropolis into a city with a thriving urban core and has become a hotspot for exciting tenants to plant their flag, but also a place where people want to live and stay.
“The Arts District has been the beneficiary of a variety of tenant types migrating from other submarkets.
The diverse tenant base includes tech, law firm, music, fashion, gaming, financial services, educational, production, media sectors and more.
This will be a special, multi-use experience whereby office tenants at Forge at Alloy will also have a convenient, high-end amenitized residential option right next door.
We expect this trend to continue as employers remain focused on the flight to quality and employee well-being.”
