Shopping Center Business

MAY 2017

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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Page 327 of 334

AT MATEO May 2017 • SHOPPING CENTER BUSINESS • 323 which James Dean attended, and another was a brewery in Cleveland, Ohio." "We also were fortunate enough to have found the original cobblestone street from the Arts District that was un- earthed from another development," he continues. "They are 150-year-old granite cobblestones. We will be using them for good portions of our common areas, as it is an open-air center." The retail mix — while currently unan- nounced — is being carefully selected to tailor to the wants and needs of the neigh- borhood. "We're working on a thought- fully collected selection of the right mix of creative office users, restaurateurs and retailers that fit the neighborhood," says Ashley Brown, senior vice president at Blatteis & Schnur. "We're working with several celebrity and chef-driven restaurant concepts, and then either new to market retail concepts or retailers with established roots in Los Angeles that understand the Arts District and will be a really great draw," she says. At Mateo isn't the only large-scale de- velopment currently underway in the Arts District. "Another development within the Arts District neighborhood is the Sixth Street Viaduct, which is going to include parks and bike paths," says Marc Guth, partner and developer at Blatteis & Schnur. "It's really going to become another big draw to the neighborhood." The Sixth Street Viaduct project — lo- cated across the street from At Mateo — is working to remove an existing historic, decaying bridge over the Los Angeles River and replace it with a new viaduct offering pedestrian, bike and vehicular paths alongside a large public park. "It's an almost $500 million project," says Sam- uel Brownell, partner and head of acqui- sitions at Blatteis & Schnur. "There's a tremendous amount of public investment in the Arts District currently." "One of the things that is most special about the neighborhood is that there's a very affluent demographic," continues Brownell. "There's a very wide range of creative users that are starting to take root in the neighborhood, and it ranges from world-class art galleries like Hauser & Wirth, to some of the best restaurants in all of Los Angeles, and very high-end resi- dential projects. We're very excited about the project, and look forward to seeing it come to fruition." SCB A view of the mixed-use development from the corner of Palmetto and Mateo streets in Los Angeles. The development is set to offer creative office space, retail and restaurants. The project will also feature a 542-stall parking garage.

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