LOS ANGELES, Aug. 18, 2015 /PRNewswire-USNewswire/ -- The South Park Stakeholders Group, the entity that currently manages the South Park BID, is proud to announce the formation of a new BID, South Park II. Discussions commenced just under two years ago when property owners in the area approached the BID to better understand the BID-establishment process. The new area is bounded roughly by Olympic Blvd., the alley between Main St. & Broadway Ave., the 10 Freeway, and the alley between Grand Ave. & Olive St, located directly adjacent to the current South Park BID. With services set to begin in January 2016, South Park II will be governed by a separate management plan for the first two years.
"It is important to the BID that this be a community-driven process. We brought together a group of diversified property owners to better understand the needs and issues of the proposed area," said Jessica Lall, South Park BID Executive Director. "It quickly became clear to the BID and property owners that its identity was a natural extension of the current South Park district."
Having received nearly 90% verified returned petitions from property owners in support of the new district, stakeholders predominantly identified with South Park's land-use and development trends, specifically the emphasis on mixed-use, sustainable properties. Two of South Park's biggest supporters, Mack Urban and the YWCA Greater Los Angeles, saw the need for BID establishment.
"So much of the economic vitality that one sees in South Park today can be attributed to its well-executed BID, which includes a thoughtfully balanced approach to development," said Paul Keller, Mack Urban Founding Principal & CEO. "The new growth that is coming will only add to that excitement. We look forward to the strategic expansion of the South Park BID."
"We at the YWCA Greater Los Angeles, as a property owner, were very excited to be a part of the formation of South Park II," said Faye Washington, YWCA Greater LA President & CEO. "During our 50 year tenure operating the Los Angeles Job Corps Center right here in South Park, we witnessed the area's evolution and growth into a dynamic component of DTLA."
AEG's opening of the STAPLES Center in 1999 was a critical turning point in South Park's journey to becoming one of the most sustainable neighborhoods in Downtown LA. Due to the quick expansion of the area surrounding the STAPLES Center to include L.A. LIVE, Microsoft Theater (formerly Nokia Theater), and the soon-to-be redesigned Los Angeles Convention Center, the region has experienced a massive transformation in a relatively short amount of time.
The excitement and energy of South Park's entertainment hub now mirrors the development, infrastructure and streetscape projects in the area. South Park is the fastest-growing community in Downtown LA, with eight new projects breaking ground in 2015 and over 20 more scheduled to commence in the next three years by local and international developers alike. Additionally, the BID is focusing on an innovative public art initiative, sidewalk repairs, street tree planting, the launch of an interactive website, and much more. Combining all of these efforts, South Park is truly reaching new and unprecedented heights.
In recognition of its 10 year anniversary and recent milestones, the BID, in partnership with the Do Art Foundation and The Mural Conservancy of Los Angeles, will be hosting the first ever BID-focused Green Carpet Event. The evening, taking place on Tuesday, August 18th from 5 – 8PM at the corner of Hope and 12th St., will begin with keynote remarks from Danielle Brazell, General Manager of the LA Department of Cultural Affairs, followed by an inaugural South Park public art tour. The tour will culminate with the reveal of the BID's new, state-of-the-art website.
"This is only the beginning," said Robin Bieker, South Park Board of Directors President and active Board Member since the BID's conception in 2005. "We are moving at an exponential rate and are taking advantage of the momentum. We are breaking the boundaries in every sense of the expression."
For more information, please visit: www.southpark.la
The South Park Business Improvement District (BID) is managed by the South Park Stakeholders Group, a coalition of residents, property owners, and businesses who are deeply committed to the ongoing improvement of the district. Since 2005, the South Park Business Improvement District (BID) has worked to make South Park safer and cleaner for the people who live, work, and visit South Park.
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SOURCE South Park Business Improvement District