Brookfield Properties will give local history a French twist in branding the 57-story luxury residential tower it is adding to the ongoing transformation of Downtown Los Angeles.
Bea Hsu, Brookfield’s executive vice president for development, is slated to unveil the Beaudry brand name and other plans for the property today.
The skyscraper is named after Prudent Beaudry, a popular 19th century Los Angeles mayor, entrepreneur, and developer who helped build the city’s Bunker Hill area, Hsu said.
“The name reflects the building’s modern twist on the heritage of DTLA— —bringing residential to an area typically thought of for office buildings,” she said. “In Beaudry’s native French, the word means ‘bold’ and ‘strong,’ a nod to the building’s height and level of sophistication,” she said.
The residential tower will be a keystone for Brookfield Properties on the 700 block of South Figueroa Street, where the Toronto-based developer also owns the 777 Figueroa, EY Plaza office building as well as the Figat7th retail center, with a tenant roster that includes Target, Zara and H&M, as well as a Gold’s Gym and a fast casual food court.
The project will make the 700 block of South Figueroa into a mixed-use block with a lineup of work and play that “appeals to those who want the option to live without a car and across the street from the train, or even down the street from their office,” Hsu said.
Architects designing the office tower are Marmol Radziner and Large Architecture. The contractor Webcor has been responsible for construction.
Beaudry’s 785 luxury units are scheduled to be put on the market in early 2023. They’ll range from studios to 3-bedroom apartments, with rents undisclosed so far. Rents in the Beaudry DTLA’s neighborhood range from $2,794 for a studio to more than $28,500 for a 3 bedroom at the Financial District’s Thea at Metropolis, according to the ApartmentFinder website.
Average rents for the neighboring South Park district have a median price of $2,420 for a studio to a high of $7,623, according to a range from the Apartment Home Living website.
Beaudry will offer more than 800 parking spaces. Common areas will consist of co-working spaces, public lounge spaces, a golf simulator and a pool, as well as a Sky Lounge on the 57th floor. The building’s plaza level will be the address to a full-service restaurant.
The pending addition of the Beaudry is part of a flow of new apartments expected to hit the market in Downtown L.A. in the next 24 months or so as the area emerges from the pandemic, said Jamie Duran, president of Southern California Coldwell Banker Realty.
“Covid put everything on hold,” Duran said. There’s a lot more labor availability now. People are coming back to work.”
Other major projects in the Downtown area include a 45-story luxe residential tower at The Grand at Gehry across the street from Walt Disney Hall, scheduled to open later this year. A longer-range proposal known as Angels Landing would include two residential towers that will offer a total of 18o condominiums and 252 apartments. It is forecast to be open by 2028.
Brookfield is also busy elsewhere in L.A., with a recent green light from the City of Los Angeles to demolish a building at Northridge Fashion Square and build 350 units in the San Fernando Valley.