Walter J. Company Wins Approval for 700-Unit Mixed-Use Towers Near Downtown Los Angeles

• Walter J. Company and Metro secure approval for 668-unit mixed-use project
• Includes a 300-room hotel, 105K SF office, and 56K SF retail
• Built above a major Metro station, supporting transit-oriented development

What this approval means for Los Angeles development

Los Angeles has approved Centro Westlake, a major mixed-use development in the Westlake neighborhood led by Walter J. Company in partnership with Metro. The project will rise on a 150,000-square-foot site near Downtown, reinforcing the city’s push toward high-density urban development, especially on transit-connected land.

What the scale means for new supply

The development includes two towers rising 55 and 39 stories, delivering 668 residential units, including 234 affordable units. In addition, the project will feature a 300-room hotel, more than 100,000 square feet of office space, and roughly 56,700 square feet of retail, creating a fully integrated mixed-use asset.

What transit location means for asset value

Centro Westlake will be built directly above the Westlake/MacArthur Park Metro station, making it a strong transit-oriented development. For investors and landlords, proximity to transit typically drives higher occupancy, stronger rent growth, and long-term asset appreciation, particularly in supply-constrained markets like Los Angeles.

What policy support means for future projects

The approval aligns with California’s broader effort to increase housing near transit, supported by state policies aimed at boosting density. These policies are reducing barriers for large-scale projects, making it easier for developers to build high-density housing in prime urban locations.

What the developer’s role means for execution

The project is backed by Dr. Walter Jayasinghe, founder of Walter J. Company, who has long-standing ties to the area. The firm secured control of the site through an agreement with Metro in 2020, showing a long-term development strategy. While the construction timeline is not yet confirmed, approvals mark a major step toward delivery.

What this signals for Los Angeles development trends

Centro Westlake reflects a clear trend in Los Angeles toward large-scale, transit-linked mixed-use development. For investors, these projects offer diversified income streams and strong location fundamentals, making them a key part of the next cycle of urban development