Continental, Mar Ventures will build modern offices, retail, and green belt
An artist’s rendering of one of the 17 buildings comprising the Elevon development, courtesy Ehrlich Architects and Ware Malcolm Architects.
Two of the biggest and most successful development firms in the South Bay are joining forces to build a 23-acre, $97 million cutting-edge business campus, called Elevon, intended attract creative firms and further extend Silicon Beach to El Segundo.
El Segundo-based Continental Development and Torrance-based Mar Ventures Inc. received unanimous approval from the City Council Tuesday night and intend to break ground on the first phase the ambitious project by next Monday.
The three-phase development, if successful, will complete the 46-acre Corporate Campus the city hoped to bring to fruition with a specific plan adopted in 2002. The initial phase, slated for completion by next fall, includes 217,000 sq. ft. of mostly offices in 17 buildings with a “green belt” plaza area running through the development; two of the buildings will house retail and restaurants.
“This further enhances El Segundo as the place to be,” Bill Messori, Mar Ventures senior vice president, told the council.
Elevon will be located a block south of the 105 Freeway, surrounded by Douglas and Nash streets and Mariposa and Maple avenues. All the buildings will be for sale, rather than for lease, and range from 8,000 to 27,000 sq. ft., with units as small as 2,000 sq. ft.
Mayor Bill Fisher, who has aggressively pursued economic development of just this sort, praised the development and its timing.
“It’s been a long haul, I know, for you – and a long haul for the city of El Segundo,” Fisher said. “That land has sat there for a long, long time. We are glad you took control of it. The timing is just perfect.”