CEMEX plays key role in creation of 'On Vine' project in Los Angeles - CEMEX plays key role in creation of 'On Vine' project in Los Angeles
February 5, 2020
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that CEMEX USA has supplied approximately 40,500 cubic meters (53,000 cubic yards) of concrete so far for the ‘On Vine’ project, one of the most emblematic new developments in Hollywood, California.
This massive US$450 million mixed-use development (which takes up an entire city block) includes a three-level subterranean parking garage, four mid-rise commercial office buildings, approximately 33,000 square meters (355,000 square feet) of office space, about 1,200 square meters (13,000 square feet) of retail space and a 193-unit residential tower.
“Ambitious developments like this will define the landscape for decades,” said Jaime Muguiro, President of CEMEX USA. “We take pride in contributing to projects that benefit both large and small businesses and provide exciting new business and residential options in the communities where we operate.”
“CEMEX is an integral part of Southern California, which has provided high-quality cement, aggregates, and ready-mix to some of the most iconic projects in the city’s history,” said Eric Wittmann, CEMEX USA Regional President – West Region. “CEMEX is perfectly suited to tackle massive projects like On Vine in Southern California and throughout the state. We are well-positioned to help complete these projects and look forward to providing top-of-the-line service and materials that will shape California for years to come.”
Construction for ‘On Vine’ is nearing completion. The 50,600 square meters (545,000 square feet) development is expected to be ready sometime in early 2020.
Kilroy Realty Corp. began construction on the project in December of 2017. The company has owned the property since 2014. According to area real estate brokers, it is estimated that there have been roughly US$5 billion in new residential, retail and office developments in the Hollywood area since 2000.
CEMEX is a global building materials company that provides high-quality products and reliable services. CEMEX has a rich history of improving the well-being of those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future. For more information, please visit: www.cemex.com
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