LOS ANGELES—Downtown Los Angeles’ California Market Center (CMC), a hub with ties to the fashion, textile, and apparel industries, earns a $170 million investment for renovation. The Los Angeles Times reports that the building owners, Brookfield Properties, has major redesign plans for the space.
Established in the late 1960s, the complex touts itself as a “home to fashion industry showrooms, creative office spaces, special event venues, and businesses catering to the downtown community.” The newspaper explains that while the 1.8 million-square-foot space is easy to spot in the Downtown Los Angeles area, it’s largely gone unnoticed by the general public because of its exclusivity. “[The CMC] was a popular destination for the rag trade and had a waiting list of tenants, but ordinary shoppers weren’t invited in, so there no were big, welcoming signs out front,” the report notes.
Through the new investment, Brookfield and associates aim to modernize the building and attract new business. Planned renovations include window replacements, a sky bridge, and fashion-focused building amenities, according to a report by California Apparel News. Investors expect the two-phase renovation to be completed in 2020.