L.A. FACE Debuts in L.A. Fashion District
The newest and largest showroom building in the Los Angeles Fashion District’s discount quarter is set to open on May 19.
L.A. FACE, also known as the Los Angeles Fashion Center, features 200 showrooms and more than 300,000 square feet. It is located at 1458 S. San Pedro St., off of Interstate 10.
The seven-story structure is the latest project among many that have built up to provide the discount element of the Fashion District with small showrooms fueled by a largely cash-and-carry business. Juniors fashion and accessories fuel business in this part of the district. L.A. FACE will feature wholesale-only showrooms. Juniors, accessories, menswear and childrenswear will make up the product mix.
Many of the proprietors are Korean Americans. The developer, Los Angeles–based Crestpoint Group, worked with the Korean Apparel Manufacturers’ Association and its membership in marketing the units.
Offered for sale only, the units range from 1,000 to 1,400 square feet, with average price tags of $800,000 and up. The initial phase of 150 units is sold out. The developers plan to offer a few units for lease.
Despite the downward push on commercial real estate, Fashion District Executive Director Kent Smith said he thinks L.A. FACE should do well.
“They have an advantage,” he said. “They were pre-selling for a while, so they should actually do quite fine. It’s not great for the [condominium] owners to open in this economy, but their strength is that they will be able to offer reasonable price points. It adds fuel to the fact that L.A. is the absolute place to go for fashion.”
The total investment in the project topped $130 million.
“The owners put a lot of effort and years of planning into this project, making it one of the most luxurious centers in the area,” said a spokesperson for the developer.
A grand opening is planned for 11 a.m. on May 19. —Robert McAllister
