Downtown L.A. Could See a Ralphs Market in 2005
A long-awaited contract with Ralphs Grocery Co. to open a store in downtown Los Angeles has been signed, clearing the way for construction of the first mainstream supermarket in the central city in decades.
Ralphs executives and landlord CIM Group announced in December that the store would be part of a massive residential and retail project currently under construction in the South Park district near Staples Center, but there was no formal agreement at that time.
Ralphs now has a 20-year lease to operate a 50,000-square-foot supermarket as part of the 7.2-acre complex surrounding the former headquarters of Southern California Gas Co., which is being renovated into loft-style housing. The value of the lease was not disclosed.
The store is scheduled to open in 2005, according to John Given, senior vice president for CIM Group, the Los Angeles-based developer behind the $220-million mixed-use project.
The Ralphs would front 9th Street between Flower and Hope streets. Parking garages would be below and behind the store, which would be topped with five floors of apartments.
The project, to be built in phases over several years, would include 1,171 apartments and condominiums in addition to stores.
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