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Onni Group is primarily a real estate development company, headquartered in Vancouver. The company has built a variety of residential, commercial, and rental projects across Canada and the United States for various uses.[1] The company started investing in the US in 2010 by acquiring apartment properties in Phoenix.[2] Since its initial investments in the US, the Onni Group has become one of the biggest developers in Los Angeles.[3]
 | |
| Company type | Private |
|---|---|
| Industry | Real estate development |
| Founded | 1965 |
| Founder | Inno De Cotiis |
| Headquarters | Vancouver, British Columbia , Canada |
| Website | onni |
Legal issues
editOnni was fined $24,000 by the City of Vancouver in May 2017 for the operation of illegal short-term rentals at The Level, located at 1022 Seymour Street, despite warnings from the city that date back over a year.[4]
In 2016 Onni were ordered to pay back $1.5 million to the City of Vancouver. An investigation found that City staff approved the DCL waiver for the Charleson Project in error.[5]
In 2018, Onni Group donated $50,000 to José Huizar, a member of the Los Angeles City Council who was under investigation by the FBI, weeks before Huizar voted to allow them to raze a downtown property.[6][7][8]
Projects
editUnited States
edit- 1120 Denny Way, a pair of 41-story residential highrises in South Lake Union, Seattle, Washington[9]
- Redevelopment of the Los Angeles Times Building[10]
- Redevelopment of the Seattle Times Building[9]
Other properties
edit- 1411 Fourth Avenue Building, a historic office building in Seattle, Washington[11]
- 121 Boren Avenue North: 40-story apartment building cancelled due to COVID-19 pandemic.[12]
References
edit- ^ "Company Overview of Onni Group of Companies Ltd". Bloomberg. Retrieved November 14, 2017.
- ^ Maidenberg, Micah (May 29, 2014). "Onni's Chicago deals keep Vancouver native busy". Crain's Chicago Business. Retrieved February 18, 2020.
- ^ Hoberman, Natalie (February 8, 2019). "Onni Group has become one of LA's biggest developers. Has it moved too far too fast?". TheRealDeal. Retrieved February 18, 2020.
- ^ "Vancouver developer fined for running short-term rentals | CBC News".
- ^ "City releases its findings on DCL waiver issue | City of Vancouver". vancouver.ca. Archived from the original on 2017-04-21.
- ^ "Onni Group's $50K donation linked to L.A. councilman investigated by FBI". Vancouver Sun. 2019-02-07. Retrieved 2023-11-11.
- ^ Zahniser, David (7 February 2019). "Downtown L.A. developer donated $50,000 before pivotal vote involving high-rise project, records show". Los Angeles Times. Retrieved 2023-11-11.
- ^ Staff, T. R. D. (7 February 2019). "Onni donated $50K to Jose Huizar-tied group before vote on Times Mirror Square". The Real Deal. Retrieved 2023-11-11.
- ^ a b Bhatt, Sanjay (November 19, 2013). "Developer proposes 4 residential towers in SLU". The Seattle Times. Archived from the original on October 11, 2016. Retrieved November 14, 2017.
- ^ Vincent, Roger (December 9, 2016). "Developer details high-rise residential, retail plans for historic L.A. Times property". The Los Angeles Times. Retrieved November 14, 2017.
- ^ DeMay, Daniel (April 22, 2016). "Historic downtown building sold for $30 million". Seattle Post-Intelligencer. Retrieved November 14, 2017.
- ^ Khashimova Long, Katherine (May 30, 2020). "Big developer backs out of $25M South Lake Union land deal, blaming coronavirus downturn". The Seattle Times. Retrieved May 30, 2020.