The Culver Steps finally hits completion mode
July 11, 2019
By Dennis J. Freeman
The Culver Steps broke ground in November of 2017. Today, the mix-use development, backed by Hackman Capital Partners, stands as a completed project that have drawn rave reviews.
In June 2018, The Culver Steps, featuring 75,000 feet of office space and 40,000 feet of retail area, was on the receiving end of an honor at the Los Angeles Architectural Awards.
"We're thrilled to be among such an innovative and prestigious group of winners," said Mike Racine, Hackman Capital's Vice President of Asset Management.
Billed as the "Heart of Screenland," The Culver Steps sits as a hub between The Culver Studios, also owned by Hackman Capital Partners, and the Culver Hotel. Essentially, The Culver Steps is seen as the finishing touch on an area ripe with entertainment and technology entities as well as commercial business.
"Culver City is booming with technology, media and entertainment companies-and more are coming-which means The Culver Steps will draw from a population of high-earning professionals who work and live nearby," said Ryan Smith, Managing Director of Hackman Capital Partners, affiliates of which own both The Culver Steps and The Culver Studios.
When it comes to retailers getting a shot at occupying the width of office space presented by The Culver Steps, Amazon Studios beat everyone to the punch. Last March, Hackman Capital Partners made the announcement that Amazon Studios, a subsidiary of Amazon
"Amazon Studios is a world-respected, award-winning content producer," said Michael Hackman, founder and CEO of Hackman Capital Partners. "And we are thrilled to welcome them to Culver City."
It's been a while for this project to finally come to fruition considering The Culver Steps was given the greenlight by the Culver City Council back seven years ago.
"When complete, The Culver City Steps will be the crowning achievement of our downtown," Culver City Mayor Jeff Cooper said in 2017. "With the recent announcement of Amazon Studios' relocation to the adjacent Culver Studios, coupled with the energy that already exists in the area with nearby movie theaters, the Kirk Douglas Theater, restaurants, and The Culver Hotel, this project with its expansive open space is certain to function as the heart of downtown Culver City and create a welcoming environment for all to enjoy."
Besides having The Culver Steps and The Culver Studios under its management belt, Hackman Capital Partners have built up good size real estate portfolio in California as well as across the country. Among the entities that the company owns are Jelly Bean Square, The Thoroughbred Building, both in Emeryville, Capital Commerce Centre in Chicago, and Midlink Business Park in Milwaukee.
The re-urbanizing of Culver City does not stop at The Culver Steps. In 2018, Hackman Capital Partners opened the door for neighbor The Culver Studios to officially launch a $620 million expansion. The development is scheduled to open in 2021.
Smith said that The Culver Steps will certainly bring enhancement to the area and the city in general.
"The public plaza, with its open green spaces and park-like environment, will make The Culver Steps a truly unique destination, not just for shopping and dining, but for outdoor movies, evening concerts and other special events," Smith said. "The entire development will be a great addition to Culver City."