Downtown Cheers as Ralphs Supermarket Advances – Mayor Villaraigosa, Councilwoman Perry and Developers Lee Homes and CIM Group Present Key to the Store

--(BUSINESS WIRE)--Downtown Los Angeles residents, community and business leaders will be on hand when Mayor Villaraigosa presents Ralphs executives with the “key to the store” on Thursday, January 11, at 12:00 p.m. In the past seven years more than 7,000 residential units have been developed in downtown bringing more than 10,000 new residents. In response to this tremendous population surge that is reshaping downtown and creating a vibrant urban lifestyle, Ralphs has decided to make the 50,000-square-foot downtown store on 9^th Street one of its upscale Fresh Fare concepts. With the shell completed, Ralphs will immediately begin work on completing the interior in preparation for a June opening.

Ralphs Fresh Fare, considered the linchpin in downtown’s residential environment, is the ground level retail anchor for Market Lofts, 267 one and two bedroom for-sale, open lofts built on six levels above the store. Developed by Lee Homes in partnership with CIM Group, Market Lofts residents will enjoy a landscaped courtyard complete with swimming pool and spa, social room with gourmet kitchen, fitness center, screening room and private residents entry. Additional retailers include The Coffee Bean & Tea Leaf, Cold Stone Creamery, Robeks Juice, The UPS Store and Quiznos Sub.

WHAT:   Mayor Villaraigosa presents Ralphs executive key to downtown
        store; Ralphs begins interior build out for June opening

WHEN:   Thursday, January 11, 2007
        12:00 p.m. noon

WHO:    Mayor Villaraigosa
        Councilwoman Jan Perry
        Dave Hirz, president, Ralphs
        John Given, principal, CIM Group
        Jeff Lee, president Lee Homes

WHERE:  Sidewalk in front of new downtown Ralphs
        9th Street between Hope and Flower