Hackman Capital Partners—“a privately held, real-estate investment and operating company”—joined with Culver City elected officials this November to break ground on the Culver Steps. When finished the Steps project will be a 1.16-acre mixed-use development situated next to the Culver Studios and the Culver Hotel in Downtown Culver City.
Local firm Ehrlich Yanai Rhee Chaney (EYRC) Architects designed the project. The Culver Steps will be a four-story development consisting of approximately 75,000 square feet of office space, 40,000 square feet of retail and restaurant space, and a 35,000-sqaure- foot public plaza.
When it is completed it is expected that the development will become the new gathering place in Downtown Culver City. The publically accessible space will be integrated with the building and will include a “grand architectural staircase,” landscape terraces and seating areas. The area will be pedestrian-friendly, with a hub for shopping and dining along with an outdoor venue perfect for movies, concerts, and special events.
According to Michael Hackman, founder and CEO of Hackman Capital Partners, “This is a meaningful occasion both for us and the city. It’s an exciting and fitting achievement that in the year we celebrate Culver City’s Centennial, we also embark on its future. Today we’re breaking ground on The Culver Steps-beginning, together, what will become a vital and treasured landmark in the heart of the city.”
Culver City Mayor Jeff Cooper and Andy Weissman, former Culver City Mayor, also shared in the excitement.
Cooper said, “When complete, The Culver Steps will be the crowning achievement of our Downtown. With the recent announcement of Amazon Studios’ relocation to adjacent Culver Studios, coupled with the energy that already exists in the area with the nearby movie theaters, Kirk Douglas Theater, restaurants and Culver Hotel, this project with its expansive public open space is certain to function as the heart of Downtown Culver City and create a welcoming environment for all to enjoy.”
Martin Feinberg, Culver City Realtor, remembers when the Culver City Real Estate project was first proposed six years ago in 2011. The dissolution of redevelopment agencies statewide in 2013 caused a multi-year delay but Hackman Capital affiliate acquired the development rights in 2016. They finally closed on the purchase of the project site last month, finally allowing work to begin.
Weissman stated, “As a longtime community stakeholder, Hackman Capital really has demonstrated a thorough understanding of this city and about what will work best for this important site at the heart of Downtown. Under their stewardship, they’ve honed what was already a terrific project and turned it into something that will be truly spectacular.”
Martin Feinberg, Realtor, is excited to see the project take shape. If all goes according to plan, the construction should take roughly 18 months to complete. The Culver Steps is projected to open sometime in 2019.
