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Commercial Real Estate

Developers to Break Ground for Sports and Retail Complex in Koreatown

October 13, 1998

Los Angeles city officials and developers will break ground today for a $24-million sports complex on Wilshire Boulevard in Koreatown.

The Aroma Sporex will include an enclosed golf driving range with four levels and about 60 tees, a high-end fitness center, about 45,000 square feet of retail space and several restaurants.

The project, on 2.5-acre lot at Wilshire and Serrano Avenue, is a joint venture of Hanil Development Inc., one of South Korea's largest conglomerates, and a Los Angeles gynecologist, Dr. Edward Ahn. Hanil will finance the majority of the project, with about 30% of the funding coming from Ahn.

The building is an important component in the continuing revitalization of the Wilshire Corridor, said City Councilman Nate Holden, who worked with Mayor Richard Riordan's Los Angeles Business Team to encourage the project.

The fall 1999 opening of the multipurpose complex, which will be two blocks east of the Wiltern Theatre, is expected to create about 200 permanent jobs. Los Angeles-based architect Christopher Pak of Archeon International Group is the principal designer.

In addition to the city looking to the project to spark others like it, Hanil will be monitoring it as well.

"The company is looking to use Los Angeles and the Wilshire Corridor as a test project for future real estate developments in Southern California," said Tina Choi, a representative of the mayor's Business Team.

Although no tenants have been signed, she said the complex has a waiting list of as many as 40 businesses. The facility, Choi said, will most likely be marketed to professionals.

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