Good Samaritan Hospital property sold for $45 million; Holland Partners of Vancouver plans residential development.GOOD Samaritan Hospital Good Samaritan Hospital may refer to: In the United States:
The Business Journal first reported that the hospital had put the property on the market in December. Holland, which has developed a nearby residential property called GLO GLO Global GLO General Land Office GLO Greek Life Office GLO General Learner Outcomes GLO GLO Lounge Orlando GLO Good Looking Organisation Ltd. (music production) GLO Get the Lead Out GLO Gospel Literature Outreach , plans to build a mixed-use project that includes market rate, affordable and workforce housing at the former hospital property, in addition to at least 40,000 square feet of commercial space. "We believe that the geography and location of Central City West is conducive to a neighborhood," said Tom Warren, president of Holland. "It's proximate proximate /prox·i·mate/ (prok´si-mit) immediate or nearest. prox·i·mate adj. Closely related in space, time, or order; very near; proximal. proximate immediate; nearest. to downtown but also slightly removed from the real frenetic activity of the business district and the stadium (Staples Center) district. We think there is a real appeal for a residential neighborhood that isn't quite as crazy as those areas." The hospital-adjacent parcel, which features several structures that would likely be razed raze also rase tr.v. razed also rased, raz·ing also ras·ing, raz·es also ras·es 1. To level to the ground; demolish. See Synonyms at ruin. 2. To scrape or shave off. 3. for the development, lacks entitlements. The site includes a parking lot, warehouse and a nine-story building that Holland is considering keeping at the site. Holland outbid out·bid tr.v. out·bid, out·bid·den or out·bid, out·bid·ding, out·bids To bid higher than: We outbid our rivals at the auction. 12 other groups for the property, which is just west of the Harbor (110) Freeway. The deal breaks down to a market rate $252 per square foot. Mark Tarczynski, a senior vice president at CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. Group Inc., said that Central City West is an acceptable alternative to downtown living for those who still want to be close to the center of the city. About 2,500 housing units have recently been built in the area, and another 1,000 are under construction and 2,500 more are planned. AEW AEW Airborne Early Warning AEW Air Expeditionary Wing AEW Airborne Electronic Warfare AEW Agr' Eau' Wat (Canadian agricultural consultant) AEW Amckerns Explosion Wars (Half Life community) Capital Management LP and Fannie Mae's American Community Fund are equity partners on the deal. Meanwhile, Good Samaritan Hospital plans to use the proceeds from the sale to build a seven-story medical office building next to another medical office building the hospital owns nearby. "Even though we sold our property to (Holland), I consider them partners," said hospital President Andrew Leeka. "The sale of this property will allow us to expand and grow within the health care business." Leeka said the building should be completed in the next 30 months. |
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