{"id":1004088113,"date":"2013-12-09T09:18:30","date_gmt":"2013-12-09T17:18:30","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=224114"},"modified":"2022-03-03T07:37:30","modified_gmt":"2022-03-03T15:37:30","slug":"one-santa-fe-tops-out-transit-oriented-community-is-just-one-year-from-completion","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/one-santa-fe-tops-out-transit-oriented-community-is-just-one-year-from-completion\/","title":{"rendered":"One Santa Fe Tops Out\u2014Transit-Oriented Community is Just One Year from Completion"},"content":{"rendered":"<p class=\"MsoNormal\"><em>By Alex Girda, Associate Editor<\/em><\/p>\n<p class=\"MsoNormal\">One of the most high-profile mixed-use projects in the downtown area recently reached an important milestone\u2014One Santa Fe topped out. The development constitutes a $160 million investment made by a joint venture between Goldman Sachs Urban Investment Group and McGregor, Cowley and Polis. Construction duties for the project are being carried out by local developer, Bernards.<\/p>\n<p class=\"MsoNormal\">The transit-oriented community is l<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/12\/one-santa-fe.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-224115\" title=\"one santa fe\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/12\/one-santa-fe.jpg\" alt=\"\" width=\"300\" height=\"162\" \/><\/a>ocated in the rapidly growing Arts District with proximity to the Southern California Institute of Architecture and the Little Tokyo\/Arts District station on the Metro Gold Line; also nearby are the Red Line and the Purple Line currently expanded into the Mid-Cities District. One Santa Fe is located on a four-acre site that is under the ownership of the Metropolitan Transit Authority between 1<sup>st<\/sup> and 4<sup>th<\/sup> Streets.<\/p>\n<p class=\"MsoNormal\">Offering a total of 438 residential units upon completion, the transit-oriented community will provide a much-needed boost to the downtown housing stock, as Los Angeles and Orange counties are waiting for upwards of 8,000 residential units over the following years. The five-story, 740,000-square-foot development will also provide approximately 78,000 square feet of office and retail space. An art gallery, a theater and a common garden are also part of the project designed by L.A.-based Michael Maltzan Architecture, with executive architecture duties handled by KTGY Group, Inc.<\/p>\n<p class=\"MsoNormal\">Financing for the project was obtained from a number of sources including tax-exempt bonds from the California Housing Finance Agency, as well as a low-income tax-credit equity provided by UIG, which were used in the development of the residential component. According to <em><a href=\"https:\/\/www.rentv.com\/content\/southerncalifornia\/losangeles\/news\/17746\" target=\"_blank\" rel=\"nofollow noopener\">rentv.com<\/a>, <\/em>the commercial component of One Santa Fe was financed with the use of a loan from the City of L.A., another UIG-provided tax credit, and tax credit allocations from Clearing house CDFI. Two nonprofits\u2014LA Economic Growth Corporation and Los Angeles Development Fund\u2014have also contributed to the financing effort for the community.<\/p>\n<p><em>Rendering courtesy of bernards.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the most high-profile mixed-use projects in the entire downtown area recently reached an important milestone recently as One Santa Fe topped out. The development constitutes a $160 million investment made by a joint venture between Goldman Sachs Urban Investment Group and McGregor, Cowley and Polis. Construction duties for the project are being carried out by local developer, Bernards.<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[1815],"class_list":["post-1004088113","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>One Santa Fe Tops Out\u2014Transit-Oriented Community is Just One Year from Completion - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/one-santa-fe-tops-out-transit-oriented-community-is-just-one-year-from-completion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"One Santa Fe Tops Out\u2014Transit-Oriented Community is Just One Year from Completion\" \/>\n<meta property=\"og:description\" content=\"One of the most high-profile mixed-use projects in the entire downtown area recently reached an important milestone recently as One Santa Fe topped out. The development constitutes a $160 million investment made by a joint venture between Goldman Sachs Urban Investment Group and McGregor, Cowley and Polis. Construction duties for the project are being carried out by local developer, Bernards.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/one-santa-fe-tops-out-transit-oriented-community-is-just-one-year-from-completion\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-12-09T17:18:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T15:37:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/12\/one-santa-fe.jpg\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/one-santa-fe-tops-out-transit-oriented-community-is-just-one-year-from-completion\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/one-santa-fe-tops-out-transit-oriented-community-is-just-one-year-from-completion\\\/\"},\"author\":{\"name\":\"Alex Girda\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"headline\":\"One Santa Fe Tops Out\u2014Transit-Oriented Community is Just One Year from Completion\",\"datePublished\":\"2013-12-09T17:18:30+00:00\",\"dateModified\":\"2022-03-03T15:37:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/one-santa-fe-tops-out-transit-oriented-community-is-just-one-year-from-completion\\\/\"},\"wordCount\":335,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/one-santa-fe-tops-out-transit-oriented-community-is-just-one-year-from-completion\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/12\\\/one-santa-fe.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"Los Angeles\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/one-santa-fe-tops-out-transit-oriented-community-is-just-one-year-from-completion\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/one-santa-fe-tops-out-transit-oriented-community-is-just-one-year-from-completion\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/one-santa-fe-tops-out-transit-oriented-community-is-just-one-year-from-completion\\\/\",\"name\":\"One Santa Fe Tops Out\u2014Transit-Oriented Community is Just One Year from Completion - 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