Wilshire Courtyard.
Rossano De Cotiis
President at Onni Group
Rossano De Cotiis runs the Vancouver-based development firm his father created while it carves new sections of Los Angeles’ skyline and adds what seems like a countless amount of multifamily units.
Surely, Onni Group is one of L.A.’s busiest real estate developers. But it has perhaps the fullest pipeline of housing and office projects that are either under construction or in the entitlement process. The portfolio is so packed with new development that we have to limit this to just some of the projects the firm initiated or advanced this year.
It seems Hollywood is Onni’s new favorite neighborhood in L.A. Earlier this month, the city released a report on the design options for Onni’s big high-rise on Vine Street: It will feature either 429 units and a 55,000-square-foot grocery store, or 464,000 square feet of offices.
The firm is also advancing a 260,000-square-foot office near the intersection of Santa Monica Boulevard and La Brea Avenue, as well as a 210,000-square-foot complex north of Hollywood Boulevard and a 195,000-square-foot office at Romaine Street and Sycamore Avenue, which will accompany the 67,000 square feet in the historic Howard Hughes Headquarters building.
In July, Onni announced plans to open its extended-stay hotel brand in Hollywood. It will have 36 suites this fall, and is part of a larger 231-unit complex the firm is building on Santa Monica Boulevard.
Outside of Hollywood, Onni has proposed a 46-story, 419-unit project along Wilshire Boulevard near La Brea Avenue. And, speaking of Wilshire, Onni this summer secured a three-year extension for $384 million in financing tied to the prominent Wilshire Courtyard campus in Miracle Mile.
That came after the financing was sent to special servicing. At the start of 2023, Sony Pictures signed a 225,239-square-foot lease at the complex, set to start in April 2024. Additionally, Onni plans to more than double the square footage of Wilshire Courtyard with two high-rises slated to begin construction in two years.
In January, Onni broke ground on what is reportedly its largest high-rise yet in Downtown L.A., at Olympic Boulevard and Hill Street. The 60-story building will feature 700 apartments. (Also in Downtown, Onni is working on the massive Times Mirror Square that will bring nearly 1,130 units adjacent to City Hall.)
And Onni is busy in Long Beach. The firm opened its extended-stay hotel there in March, as part of a much larger project that includes a 23-story building with 400 apartments, as well as 23,000 square feet of retail and restaurant space.
