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Work Resumes on 2 Buildings

June 28, 1987

Construction has resumed on Phase 2-A of Southmark Pacific Corp.'s Colorado Place, a 15-acre mixed-use project in Santa Monica.

A snag in financing had temporarily halted the second phase of the project, bounded by Colorado Avenue, Broadway, Cloverfield Boulevard and 26th Street, a spokeswoman for Southmark said. The $80-million Phase 2-A calls for the construction of two mid-rise office buildings with a total of 310,000 square feet. Completion is expected by the end of 1988.

Southmark does not know when it will begin construction on Phase 2-B, which is expected to include a 230,000-square-foot office building, a park, and an eight-screen theater complex. A third phase may include a 300-room hotel.

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