This property is in a long-term NON-CONTINGENT ESCROW and is no longer available.
The “Prime Century City 1.77+ Acre Development Site” is comprised of ±28,172 SF of Commercial (C2-1VL-0) and 112 units on ±49,058 SF of Residential land (R3-1-0). This exciting opportunity offers a developer the following potential development scenarios: (1) Develop 1.77+ Acres and Potentially Vacate Bellwood Avenue for a Total Site Size of 2.21 Acres; or (2) Renovate the Existing 82 Apartments to Capture Significant Rental Upside and Develop the Remaining ±50,000 SF of Land (Plus Potential to vacate Bellwood Avenue for Additional Acreage). The Brand New TRANSIT ORIENTED COMMUNITY ("TOC") Tier 3 Benefits Now Apply (see Parcel 4315-018-034), including up to a 70% increase in density; increased FAR; reduced parking requirements; and TOC Additional Incentives including more favorable setbacks; Height; Open Space; Etc.
The “Prime Century City 1.77+ Acre Development Site” is located in the highly desirable submarket of Century City, just a few blocks from Beverly Hills. Situated just south of Olympic Boulevard, the site is walking distance to the open-air shopping mecca of Westfield Century City, which is undergoing a major expansion, and will emerge as a 1.3 million square foot shopping, dining, and entertainment destination; 20th Century Fox; Ralph’s Fresh Fare (across the street); Eataly; and a Plethora of Other Hotels, Restaurants, Retailers and Employers. The site offers convenient access to highly desirable employment centers, such as Century City, Beverly Hills, Westwood, Brentwood, Santa Monica, Playa Vista, West Hollywood, Hollywood, and Downtown Los Angeles.
