The rooftop observation deck will be available for use by Santa Monica-based non-profits for special events one evening a month. Santa Monica residents and youth will receive discounted admission and local schools will be able to visit the space free of charge through annual field trip opportunities. The world-class museum will be designed to attract and exhibit works of significant local, international, and established and emerging artists and architects, will showcase exclusive pieces from the archives of Frank Gehry for at least 15 years and will include associated educational and community programming. The developer is required to build, operate, and maintain a world-class museum that will expand Santa Monica’s arts and cultural offerings at an estimated value of $1.8 million annually. The City of Santa Monica has negotiated a community benefits package with an estimated value of $53.3M with a focus on cultural facilities, historic preservation, affordable housing, water and energy conservation, hiring local, one-time monetary contributions, and publicly accessible open space. “This project brings together historic and new architecture to create a very special place on Ocean Avenue.” “This project has it all! A new museum, a full-service hotel, an observation deck with views of the Pacific, onsite affordable housing, and new places to eat, shop, and enjoy Santa Monica,” said Santa Monica Mayor Sue Himmelrich. This project will achieve LEED Platinum certification, use 100% Green Power, incorporate solar infrastructure and onsite facilities to capture and reuse rainwater, complies with Santa Monica’s water neutrality ordinance, will use 15% less energy than required by the 2019 California Energy Code (except for EV infrastructure) and includes a Marine Debris Reduction Program. Up to 285 subterranean parking spaces (10% equipped with EV chargers) and 231 bicycle parking spaces.Approximately 5,000 square feet of publicly accessible rooftop observation deck.Pedestrian-oriented ground level open spaces including a pedestrian mall.Approximately 36,100 square feet of retail, restaurant, and commercial space.Approximately 35,500 square feet for a “Cultural Uses Campus” that includes a new museum building and the preservation, adaptive reuse, and on-site repositioning of two designated City Landmark Buildings.100 residential apartments including a mix of unit types (studios, one-bedroom, two-bedroom, and three-bedroom):.120-room full-service hotel, including spa, meeting, and banquet space.The Ocean Avenue project will have significant impacts on the local economy including creating over 2,800 new jobs, $258.2 million in one-time economic outputs based on construction efforts, $59.8 million in annual economic outputs based on the annual operation of the onsite hotel, retail, and estimated household spending, and an estimated $6.2 million ($3.4 million net new) in annual fiscal impacts to the City’s General Fund to support City services. “The Frank Gehry Project is unique, brings new amenities like a cultural institution to the Downtown, and will provide one-time funds to deliver City services including transportation infrastructure, parks, recreation programs, early childhood initiatives, affordable housing, economic opportunity initiatives, and more,” said City Manager David White. The community benefits package has an estimated value of over $50 million, and addresses cultural facilities, historic preservation, sustainability, housing, and more. It integrates iconic design and architecture, historic buildings, leading sustainability practices, a full-service hotel, world-class exhibitions and programs in a new space for cultural institutions, affordable and market rate housing, and a variety of publicly accessible spaces including a new pedestrian mall, expanded outdoor dining, and a rooftop observation deck that provides a 360° view of the Santa Monica Bay. The project is designed by world-renowned architect and Santa Monica resident Frank Gehry. Last night, the Santa Monica City Council approved the Development Agreement for a mixed-use, LEED Platinum certified project at the northeast corner of Santa Monica Boulevard and Ocean Avenue.
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