Newsom Accelerates $2 Billion DTLA Mixed-Use Mega-Project

California Governor Gavin Newsom recently announced his decision to expedite Continuum Partners’ Fourth and Central project, a monumental $2-billion mixed-use development situated at the crossroads of Little Tokyo, the Arts District, and Skid Row in downtown Los Angeles.

Project Overview
The Fourth and Central project boasts an ambitious plan, comprising over 1,500 rental and for-sale apartments, 411,113 square feet of office space, 101,088 square feet of restaurant/retail space, and a 68-key hotel. This endeavor aims to address the pressing need for housing and infrastructure in the heart of the city.

Judicial Streamlining
Governor Newsom's action involves certifying the Fourth and Central project as eligible for judicial streamlining under infrastructure legislation enacted in 2023. This designation means that any legal challenges to the project must be resolved within a significantly reduced timeframe of 270 days, as opposed to the typical three- to five-year process.

Impact of Initiative
This initiative marks a pivotal moment, as it is the third project overall and the first housing project to benefit from the streamlined judicial process since the governor signed the infrastructure legislation into law. Newsom emphasized the importance of cutting through bureaucratic red tape to accelerate critical housing projects, highlighting the visible consequences of regulatory obstacles hindering progress.

Governor's Statement
In a statement regarding this development, Governor Newsom underscored the significance of leveraging California's infrastructure law to facilitate the expedited construction of much-needed housing. He emphasized the imperative to overcome regulatory barriers and expedite housing projects to address the housing crisis gripping the state.

Newsom's decisive action to fast-track the Fourth and Central project represents a proactive step towards addressing California's housing challenges. By expediting critical infrastructure projects, the state aims to foster sustainable growth and development, ensuring a brighter future for its residents.