A design rendering of the completed Budokan project. Photo: Lincoln Brown Illustration
LTSC discusses its plans to complete funding for the complex’s $23 million capital campaign.
By P.C. Staff
LOS ANGELES — The Little Tokyo Service Center revealed the final version of its new design for the Budokan project, a multipurpose sports and activities complex that will be located in downtown Los Angeles during its monthly meeting on Nov. 25.
The complex, which will be located at 237-249 S. Los Angeles Street, between Second and Third Streets in Los Angeles, will feature gymnasium and support space totaling 31,000 square feet, a mezzanine and terrace totaling 9,000 square feet, a rooftop park totaling 18,000 square feet and parking totaling 31,000 square feet. In all, the complex will occupy 89,000 square feet.
To date, the LTSC ahs raised more than 50 percent of its goal for the $23 million capital campaign.
LTSC is working with Gruen Associates, who will serve as chief architect for the project. Once completed, the complex will host an array of sports activities, including basketball, martial arts and volleyball, as well as feature afterschool programs, special events, tournaments and additional community programming for all ages.
“We are very excited to share with the public the finalized version of the new design for the Budokan of Los Angeles,” said Dean Matsubayashi, LTSC executive director. “Overall, we spent a considerable amount of time and have now come up with a design which reflects important key elements including long-term sustainability, cost alignment with our campaign goal and fulfillment of the community needs.”
Since the launching of the capital campaign in August 2011, LTSC has made significant strides with the project. After submitting its application to the City of Los Angeles, Department of Planning, in August, the Budokan project is about to receive final approval and complete the entitlement process.
Alongside this milestone, and led by Alan Kosaka, chair of the Budokan Capital Campaign, the team has now amassed just under $13 million, or just more than half of the campaign goal. Funding has come mainly through public sector sources (federal, state, county and city), which includes notable funding from the State of California, Department of Parks and Recreation — Prop 84 ($5 million), City of Los Angeles — Prop K ($250,000 and $1.3 million) and Los Angeles County — Prop A ($1 million).
LTSC has also received a letter of interest from a potential funder to complete the final 20 percent of the campaign (approximately $5 million). With nearly 50 percent committed and the remaining 20 percent identified for the backend of the campaign, LTSC is currently working to put together the final 30 percent over the next year and a half.
LTSC will look to target the rest of the funding through additional public sector funds, foundation grants and through a large-scale grassroots campaign that will target individual donors on all levels. It is anticipated that LTSC will complete its fundraising effort by mid-2016 and target a groundbreaking in fall 2016.
“I am extremely excited to reach this important milestone and raise over half of the campaign goal, said Kosaka. “I am looking forward to working with our campaign team to close out these efforts in the next year and a half an initiate construction soon so we can fulfill this long-awaited dream for Little Tokyo that will have tremendous long-term impact for the downtown region.”
LTSC Community Development Corp. is a nonprofit community-based organization that has been providing services for nearly 35 years to the greater Los Angeles community.