The Source reveals YG Land

Jay Im, Real Estate Department VP of M+D Properties, is explaning about the construction of The Source.

Complex coming soon to OC

By The Korea Times Los Angeles staff

A complex containing an entertainment facility by Korea’s famous record label and talent agency, YG Entertainment, is coming soon to Buena Park in Orange County.

M+D Properties, the California-based real estate management firm overseeing the project, said Wednesday that it conducted a signing ceremony for a joint business partnership with the entertainment company on Feb. 4.

The facility, which is a part of a larger complex called “The Source,” is located at the corner of Beach Blvd. and Orangethorpe Ave. and will feature an indoor concert hall, a studio and a “star item” store with products related to YG’s stars, which include Big Bang, Psy and 2NE1.

Construction of the complex, which is said to be about 45 percent completed at the moment, began in August 2012 and will be finished in December, said David Lee, leading manager of M+D Properties.

Lee said The Source will be a 10.6-acre complex that includes a shopping mall, a four-star Hyatt hotel, restaurants, office spaces, a parking garage and the YG facility.

Talks with big-name retailers such as Apple, H&M, Burger King and UNIQLO to take one of the more-than 150 spaces at the mall are underway, the firm said.

When it opens, packages with concert tickets and hotel reservations will be made available, the firm said. It also plans to station LED billboards promoting YG Entertainment around the center.

The complex will become a root of the spreading of K-Pop around the U.S., said Kim Jun-il, the firm’s director.

Plans for the concert space — which will seat 2,000 and span 40,000 sq. ft. — include both performances by both YG and non-YG artists.

According to Kate Wanamaker, vice president of property management at Greenland Property Management, LLC., The Source is estimated to cost around $400 million and generate more than 4,000 new jobs.

The complex is slated to open June 2015.

One Comment

1. Walter Locksmith

   May 8, 2016 at 11:32 PM

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