Los Angeles — The developers of The Bloc, a 1.1 million-square-foot office, retail and hospitality redevelopment in downtown Los Angeles, have received a $225 million permanent loan to finance the project.
The Bloc is located at 700 S. Flower Street. The site was originally built in 1973 as a traditional mall. The redevelopment will transform the space into an open-air urban complex. It will be the largest mixed-use property in Los Angeles, according to developers The Ratkovich Company, National Real Estate Advisors and Blue Vista Capital.
The Bloc is scheduled to open this summer. A renovated flagship Macy’s will anchor the center. The Bloc will also offer a variety of artisanal retailers and restaurants, as well as creative-leaning office space and a newly renovated, 496-room Sheraton Los Angeles Downtown.
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