An Evening at The Bloc
Please join the UCLA Ziman Real Estate Alumni Group for an evening at “The Bloc,” The Ratkovich Company’s redevelopment of the Macy’s Plaza at 7th and Flower in Downtown Los Angeles. The Ratkovich Company will provide an overview of the acquisition of the project, the vision to transform this significant property and a tour of the site.
Ratkovich acquired the 1.8 million square foot property in June of 2013 for $241 million. The renovation of the mixed use property is budgeted at approximately $160 million.
THE BLOC, which occupies an entire city block in the heart of downtown Los Angeles, will be a modern version of the ancient Agora, a vibrant and eclectic cultural and commercial destination that will be a magnet for both locals and visitors from around the world. The Ratkovich Company is transforming the almost 2 million square foot property into an international destination to lead an accelerating Downtown LA renaissance. Bounded by 7th, 8th, Hope and Flower Streets THE BLOC will include a state-of the art European Standard 478 room Sheraton hotel, a fully updated 250,000 SF Macy’s Department Store, over 150,000 SF of unparalleled retail shops and restaurants surrounding an open-air, multi-level public plaza, and a fully renovated 33-story, 700,000 SF office tower with rooftop garden lounge. When the original buildings at “Broadway Plaza” were completed in 1973, the architect, Charles Luckman, referred to his truly mixed-use development as a “totally integrated environment”. He felt he had truly created something to be enjoyed by everyone. Times have changed and The Ratkovich Company is turning the formerly inward focused mall into an inviting world of commerce and culture that is fully integrated with the downtown community. The Bloc promises to be a SoCal version of Le Bon Marché in Paris or Ferry Building in San Francisco, with the same world class mix of culinary, visual and product delights to be enjoyed by the entire region and millions of annual visitors. The project will be LEED Gold certified and the first such project in Southern California to receive Delos Well Building TM Certification.
The discussion will be led by James Phelan, CFO of The Ratkovich Company, Brian Saenger, VP of Acquisitions at Ratkovich and Scott Burrin, Chief Investment Officer at Jamison Company (the Seller).
- Evening at The Bloc
- February 20, 2014 @ 6:00pm
- Downtown LA
6:00 PM Drinks/Networking
6:30 PM Program Begins
8:00 PM Program Ends
To RSVP, please complete the form below.
For additional information, please contact
Sarah Mercurio at the UCLA Ziman Center for Real Estate.