Prominent L.A. developer to build unconventional office at Playa Vista

Robert F. Maguire III, a prominent developer who helped shape L.A.'s skyline in the 1980s and '90s, is back.

Maguire led development of several of the city's best-known office buildings including U.S. Bank Tower, the tallest structure in Southern California. Now, at 79, Maguire says he is gearing up to develop again.

He plans to build an unconventional office at Playa Vista, the expansive former headquarters site of aviation titan Howard Hughes that has become a magnet for so-called creative firms such as YouTube.

The monolithic granite and glass towers Maguire built for corporate titans of the late 20th century are not attractive to technology, entertainment and digital media firms now leading the region's economic recovery, he says.

"Smart companies want innovative space," he said. "Conventional office space is going to have a hard time competing."

The Playa Vista office market is roaring, in part because the tech-centric Westside, sometimes known as Silicon Beach, is running out of space.

"Santa Monica is full," Maguire said. "The obvious replacement for major tenants is Playa Vista."

His plan is to build an office called WE3, which would be the third building at an office campus called Water's Edge at the intersection of Lincoln and Jefferson boulevards. Maguire has held part interest in Water's Edge since he built it in 2002.

The complex, about a mile from the Pacific Ocean, was intended from the start to be a campus for creative technology types, but the timing was off. The roaring tech boom of the late 1990s was over by the time Water's Edge hit the market and it sat empty until video-game giant Electronic Arts Inc. moved there in 2004.

EA ran into financial challenges and labored to sublease much of its space, but Water's Edge is now at more than 90% occupancy, Maguire said. He plans to sell the complex to an investor willing to become a partner in the development of WE3.

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Prominent L.A. developer to build unconventional office at Playa Vista