The Fourth and Central Project downtown will consist of 10 buildings offering 1,500 new homes, office space, and retail outlets, all near public transit.
Mr. Newsom’s certification “streamlines” the project, meaning any legal challenges must be heard within 270 days, down from the usual three to five years, the press release said.
Construction will create up to 10,000 union jobs, the governor’s office said.
Fourth and Central will be located between Little Tokyo, the Arts District, and Skid Row, and will replace a cold storage facility. The new homes will include at least 214 affordable units. Restaurants and retail space will total more than 100,000 square feet, and 68 hotel rooms are also in the mix.
Fourth and Central is the third project to be streamlined under the infrastructure law, which Mr. Newsom signed in July 2023. The law aims to accelerate construction by “cutting red tape” on projects “necessary to achieving the state’s ambitious climate and clean energy goals,” the governor’s office said in a news release.