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One Santa Fe to Get Reworked Lease, Metro as Retail Tenant

By Eric Richardson
Published: Wednesday, June 15, 2011, at 07:55AM
One Santa Fe Rendering Michael Maltzan Architecture

Rendering of the One Santa Fe project, showing a pedestrian bridge that connects to a new Arts District station on Metro's Red Line.

The One Santa Fe project will get reworked lease terms and a 35,000-square-foot retail tenant under terms of a motion that heads to Metro's Planning and Programming committee on Wednesday.

The project, which would add 438 residential units on four acres at the edge of Metro's Arts District rail yard, has been underway since 2005. It seemed ready to go in 2007, but the economic downturn caused the project's financing to collapse.

Now, though, One Santa Fe again looks ready to get underway. The project recently received $4 million in affordable housing funds, and the reworked Metro lease is designed to make it eligible for further HUD funds.

As part of the deal, Metro will lease 44 percent of the project's 79,000 square feet of retail and office space for operations training and related uses.

The new contract requires work on One Santa Fe to be underway by January of 2012 and the office space to be ready by October of 2014.

Renderings by Michael Maltzan Architecture show One Santa Fe as a linear collection of buildings shielding the edge of Metro's 50-acre rail yard.

They also include a feature that should excite those who live nearby (and Councilman Tom LaBonge): a new subway station. A pedestrian bridge connects the project to a new station platform that would be built in the rail yard, allowing Red Line service to extend past Union Station and into the Arts District.

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