LOS ANGELES | Downtown Project Rundown 3.0 - Page 390

JRinSoCal · #**7781** 10-28-2009, 04:12 PM

So is the theatre officially open now, or was this a special event for MJ's movie? I would love to go see 2012 on Nov 13th there.

LA/OCman · #**7782** 10-28-2009, 04:20 PM

The theatres are open showing "This is it" on all screens for two weeks.

JDRCRASH · #**7783** 10-28-2009, 06:04 PM

Quote:

Originally Posted by JRinSoCal

So is the theatre officially open now, or was this a special event for MJ's movie? I would love to go see 2012 on Nov 13th there.

Yeah, i'm hoping to do that, too. Hopefully we won't come out to find half of LA sunken...

LAsam · #**7784** 10-28-2009, 11:57 PM

Quote:

Originally Posted by LA/OCman

The theatres are open showing "This is it" on all screens for two weeks.

Wonder if it's any coincidence that AEG owns that movie... and that's the only movie showing at LALive... nah...

pesto · #**7785** 10-29-2009, 06:28 AM

I am not defending that 40 percent of LA office space is near Wilshire, but it did make me think about high-rises. What is the tallest building in SoCal not within half a mile of Wilshire? I am assuming that all of DT, Ktown, mid-Wilshire, BH, CC, Westwood, WLA and SM are within a half mile (or maybe slightly more). Do you have to go to Universal or Burbank or LB or SD to get the tallest? And I wonder how far down the list of tall buildings that would be?

Assuming it is in Universal or SD, what is the tallest building not in LA or SD?

LosAngelesBeauty · #**7786** 10-29-2009, 08:40 AM

I came up with that figure by referencing the approximately 250 million square feet of commercial space in LA County where the areas along Wilshire Blvd., that pesto just described in the post above mine (DT, Ktown, Hancock Park, Mid-Wilshire, Golden Triangle BH, CC, Westwood/UCLA/VA, Brentwood, SM), make up about 100 million square feet of space. It comes out to be 40%.

RuFFy · #**7787** 10-30-2009, 04:00 AM

http://latimesblogs.latimes.com/lano...-projects.html

JDRCRASH · #**7788** 10-30-2009, 04:21 PM

Thanks for that RuFFy.

Wait a minute, does the map say a transfer is needed to go down West Hollywood spur?

RuFFy · #**7789** 10-30-2009, 06:19 PM

Here's one for you JDR. I think you brought up the problem we have with the river and train tracks. A few days old but might be of interest to you. http://www.latimes.com/news/local/la...0,961221.story

JDRCRASH · #**7790** 11-01-2009, 01:25 AM

Thanks for that, too. While we know these are the kinds of demands that kill big important projects, especially in Southern California, it might be necessary to improve the area's physical beauty.

I think it's the same with One Sante Fe project downtown; it's adjacant to what will also be used for the CHSR (I think), and I doubt people will be drawn to the revitalized river and surrounding parks if the tracks, along with the small railyard nearby, aren't underground.

ThreeHundred · #**7791** 11-02-2009, 05:21 PM

Some good news.

Concerto Sales Get Green Light

Bankruptcy Judge Decides Developer Can Close Escrow
by Anna Scott, Staff Writer
Published: Friday, October 30, 2009 11:54 AM PDT
DOWNTOWN LOS ANGELES – A bankruptcy court judge ruled yesterday that developer Sonny Astani can move forward with closing sales at his Concerto project on Figueroa and Ninth streets, Astani confirmed today.

The developer filed for Chapter 11 bankruptcy protection for the unfinished condominium complex in September, after his lender, Corus Bank, was taken over by the Federal Deposit Insurance. The filing, Astani said, was necessary to close escrow on 77 units in a completed, six-story tower that is part of the project, which were sold in a recent auction.

Though a consortium of investors led by Starwood Capital Group subsequently purchased Corus’ portfolio, the FDIC two weeks ago asked the bankruptcy court not to approve the 77 sales because the prices were too low.

A court judge ruled on Thursday, Oct. 29, however, to allow Astani to complete the sales, and use the proceeds to fund the project’s next phase, a 30-story tower with 281 residences, the developer said. However, he added added, the new lender has said it will take a few weeks to approve the project’s budget.

Contact Anna Scott at anna@downtownnews.com.

©Los Angeles Downtown News. Reprinting items retrieved from the archives are for personal use only. They may not be reproduced or retransmitted without permission of the Los Angeles Downtown News. If you would like to re-distribute anything from the Los Angeles Downtown News Archives, please call our permissions department at (213) 481-1448.

JDRCRASH · #**7792** 11-02-2009, 05:51 PM

Quote:

Originally Posted by ThreeHundred

A court judge ruled on Thursday, Oct. 29, however, to allow Astani to complete the sales, and use the proceeds to fund the project’s next phase, a 30-story tower with 281 residences, the developer said.

Thats VERY good news...except it's not gonna break ground for at least a year.

colemonkee · #**7793** 11-02-2009, 08:44 PM

JDR, the 30-story tower mentioned in that article is the current tower, not the second tower. The proceeds from the sales in the smaller loft building will allow Astani to finish the existing, unfinished tower.

dachacon · #**7794** 11-03-2009, 10:09 PM

^^ and the profits from the 30 storey tower already up will finance the second 30 storey tower. it will just take some time.

Steve2726 · #**7795** 11-03-2009, 11:02 PM

Quote:

Originally Posted by dachacon

^^ and the profits from the 30 storey tower already up

Profits? The whole project is chapter 11. At this point, they are just hoping to minimize the substantial losses on the first tower.

Westsidelife · #**7796** 11-04-2009, 12:20 AM

The Hotel Bristol after a good scrubbing...

From Flickr, by ericrichardson

pesto · #**7797** 11-04-2009, 01:46 AM

may cause some unemployment; I hear they will not renew the club, which I expect will put the hostesses "out on the street".

I guess they can drop into the Gopher to get warm.

JDRCRASH · #**7798** 11-04-2009, 06:16 PM

I have a concern about the Regal, and it has nothing to do with it's design (now that the billboards are up, blocking much if it's ugliness).

Is there gonna be any street-level retail stores and shops in the Ritz on Georgia st? Because wouldn't that street be less pedestrian-friendly and make the Hotel just one BIG monolith blocking the Cinemas if there weren't other stuff across the street from the theater?

LosAngelesBeauty · #**7799** 11-04-2009, 06:45 PM

^ The theater itself is enough for people to walk by the Ritz Carlton. Plus, while I was there, I noticed A LOT of people were walking to the theater OUTSIDE of LA Live. Meaning they were parked across the street or walked over from somewhere else in Downtown. Obviously when the Hard Rock Hotel is built, it'll generate even more cross-flow between LA Live and the other side of Olympic Blvd. And you have to take into account that once the hotel is done, it won't be a pedestrian unfriendly to walk by. Not every single iota of land must be retail frontage in order to be pedestrian friendly!

Also, I noticed that the "Just Tires" mechanic shop was vacated (and relocated)! This can only mean one thing: that AEG/LA Live is pressuring whoever owns that land to hop on board the Entertainment District Development band wagon. Perhaps AEG acquired the land?

JDRCRASH · #**7800** 11-04-2009, 07:25 PM

Well I haven't been down there in a while (months), and i'm hoping to go there for the 2012 movie premiere a week after this Friday, so maybe your right.