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IN BRIEF / Real Estate

California Endowment to Build in Downtown

September 10, 2002|Jesus Sanchez

The California Endowment, one of the nation's largest health-care foundations, said it will build a headquarters complex and conference center adjacent to the historic Terminal Annex in downtown Los Angeles on a 6.5-acre parcel it purchased for $11.3 million.

An official for the organization said a design and size of the facility on Alameda Street have yet to be determined but that it will house 150 employees now located in Woodland Hills, where the foundation is headquartered, and an existing office in downtown Los Angeles.

The complex, located immediately northwest of the former postal facility, is scheduled to break ground late next year and be completed in 2006.

The Los Angeles-based real estate firm Urban Partners will act as the development manager for the project.

The endowment originally planned on building its headquarters across the street near Union Station but the location was not large enough to accommodate the organization's needs, an endowment official said.

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