LOS ANGELES | Downtown Project Rundown 6.0 - Page 381

bhunsberger · #**7601** Posted **Aug 8, 2018, 1:01 AM**

No word on Olympia or Luxe redevelopment? Also, I saw something is being done to the building at 7th and Olive. Restoration? I believe is the 777 Restaurant and Athletic Club building?

citywatch · #**7602** Posted **Aug 8, 2018, 5:51 AM**

Quote:

Originally Posted by LAGuy89

I walked by the Tower Theater during my lunch break and managed to take a few interior pics. Sorry if they're kinda blurry. I didn't want anyone to catch me.

Looks like they've started tearing out the carpeting. the original parts of the lobby also appear to be mostly intact. However, that poor chandelier needs some TLC.....Apple to the rescue!

Quote:

For those observing the ongoing high-rise buildings emerging throughout Downtown Los Angeles, it’s hard to imagine what it was like just 20 years ago. Scott Dobbins, the president of Hankey Investment Company, has watched Downtown L.A. transform from an area that was deserted after the workday ended to a bustling metropolis set to become a higher density 24/7 hive of activity.

The 53-year-old Seattle native, who lives in Manhattan Beach with his wife and three children ages 16, 14 and 12, is betting that Circa, the massive $500 million dual-towered luxury development at 1200 Figueroa Street that he lead the development team on will further the urban transformation.

That’s one of the things that’s changed in Downtown L.A. Twenty-five years ago when I worked in Downtown L.A. it was a ghost town at 6 o’clock. It was a ghost town on the weekends and now you have neighborhoods that are coming up. You have South Park, the Arts District, Spring Street. There are families down there now and I think it’s going to be more of that 24/7 lifestyle that other cities have.

You also have 48,000 square feet of retail space in the building. What’s the status on that?

That’s a hard one, I don’t want to say until I have a lease in hand. We’ll probably have two large restaurants—about half the retail can be restaurants. So, with L.A. Live and the Staples Center and Convention Center across the street, you’ll get daytime and evening use so there is a definite demand there for that and then those restaurants can service the people who are at Circa.

Any grocery tenants coming to Circa?

We have people who want in, but I actually haven’t pulled the trigger on that one yet.

What about the state of residential leasing so far for Circa?

We’ve only been open about two weeks, but we’re signing leases daily and it’s been great. I have six units at about $25,000 a month and I already have four of them leased—four of the six of the biggest penthouses. Our penthouses range from $10,000 to $25,000. We have 36 penthouses, but the largest ones are six at 4,000 square feet.

Are those international or local people who are leasing those?

They’re all local.

What’s the demographic?

I don’t want to speak to that, but they are local successful people. Some are moving from other towers and some are Californians getting another residence in Downtown Los Angeles. I think some of what you’ll see is they will treat it like the New York pied-a-terre. You’ll have Downtown residents as well. It’s funny. A lot of people in Beverly Hills have a Malibu House and now they’ll have a Downtown house. I’m sure there will be more of that.

You’re also working on a number of other projects.

We’re partners with City View, and a project called Pearl on Wilshire. We just opened and move-in was last week so that’s a great start. Leasing is going great over there. I’m doing more creative office and then following up on the success of Circa, we brought Jamison in for a 644-unit high-rise on the edge of Koreatown, right there on Wilshire. That project is supposed to get started in September when we’re taking move-ins for Circa so we’ll continue with our same team over there.

caligrad · #**7603** Posted **Aug 9, 2018, 12:44 AM**

Quote:

Originally Posted by bhunsberger

No word on Olympia or Luxe redevelopment? Also, I saw something is being done to the building at 7th and Olive. Restoration? I believe is the 777 Restaurant and Athletic Club building?

Olympia is supposed to break ground next year.

"Construction of Olympia is anticipated to occur over 48 months. Completion could occur as early as 2023".

Per urbanize. Doing a little math, 48 months equals 4 years, subtract that from 2023 and we have a 2019 start date. When exactly, however, no one knows

but from the sounds of it, its full steam ahead. Kinda Baffling though since their two smaller, less ambitious tower projects that were proposed in South Park before this one have yet started construction, even though both if I remember correctly are already approved.

The last anything was heard of the Luxe was last year in September. Last I heard, it was shrunken from three towers, to a two tower project. I'm personally VERY underwhelmed by the newer proposal, especially since it includes flat roofs, a huge podium and plaza that's reminiscent of Bunker Hill from the 80s/90s. The general consensus on here however seems to have everyone's approval. The timeline has been pushed back to the point there isn't one anymore. So who knows with the Luxe Site anymore, but I know the city has already given it the green light. If the Luxe can get off the ground this "Cycle", i'll be happy.

Eightball · #**7604** Posted **Aug 9, 2018, 1:22 AM**

Great photos, LAGuy! Appreciate that

Lobby is freaking awesome, this gon be a real nice Apple store/space

ChelseaFC · #**7605** Posted **Aug 9, 2018, 3:44 PM**

Some shots of the newly renovated Mayfair Hotel in City West, along with the hotel restaurant Eve American Bistro

https://la.eater.com/2018/7/6/175423...opening-photos

Eightball · #**7606** Posted **Aug 9, 2018, 4:18 PM**

The new renderings of Perla looking sweet https://urbanize.la/post/fresh-rende...perla-broadway

colemonkee · #**7607** Posted **Aug 9, 2018, 8:38 PM**

The Mayfair looks great!

caligrad · #**7608** Posted **Aug 9, 2018, 9:28 PM**

I forget. We still dislike Barry Shy right ? haha joking aside. I still really like this building, with all its blandness included, even though, like all of his other projects, its been proposed for years with no movement other than design tweaks. If built, it will create a boom in that area that's seriously needed to break into that wall that is skid row.

https://urbanize.la/post/design-twea...ric-core-tower

hughfb3 · #**7609** Posted **Aug 11, 2018, 6:47 PM**

The often forgotten about Warner Brothers Theater in downtown Los Angeles is sitting hidden underneath the guise as a jewelry mart. Many of the details are still there. I was surprised at looking through the online pictures, there are no current images of the interior of this beautiful gem, so I took it upon myself. I took heed from a different website to be careful of security as they do not like pictures being taken. One thing I did notice is that many of the jewelry booths are vacant and I'm wondering how long this will continue to operate as such.

colemonkee · #**7610** Posted **Aug 11, 2018, 7:55 PM**

Wow, gorgeous!

LosAngelesSportsFan · #**7611** Posted **Aug 11, 2018, 9:43 PM**

Hopefully not much longer. It's an amazing building

Blesha13 · #**7612** Posted **Aug 12, 2018, 4:19 AM**

Is there a new logo on the Bank of America Plaza? The logo is white. I'm in Echo Park right now but can't see from afar lol.

JerellO · #**7613** Posted **Aug 12, 2018, 7:33 AM**

Omg the Warner Theatre interior is so beautiful!! And it’s only a glimpse.. I’ve never seen it before

caldor120la · #**7614** Posted **Aug 12, 2018, 2:11 PM**

Many Los Angeles movie palace fans are aware of this site information on all the dtla theaters can be found at https://losangelestheatres.com if site opens there all there, with history. Thanks hughfb3 for new photos.

caldor120la · #**7615** Posted **Aug 12, 2018, 2:27 PM**

Site correction for dtla theatres is https://losangelestheatres.blogspot.com if that fails it can be found easy.

caligrad · #**7616** Posted **Aug 12, 2018, 5:07 PM**

^^^ Thank you sooo much, I've been looking for info on the Broadway theaters since the apple news. Thanks.

In regards to the old Warner Theater. It needs to be saved and reused asap. A gem that cant afford to be gutted anymore.

bhunsberger · #**7617** Posted **Aug 13, 2018, 3:11 AM**

Quote:

Originally Posted by Blesha13

Is there a new logo on the Bank of America Plaza? The logo is white. I'm in Echo Park right now but can't see from afar lol.

Yes! Saw this as well. Hopefully all logos become white. Seems the only one that really isn’t is AON.

citywatch · #**7618** Posted **Aug 13, 2018, 4:06 AM**

not sure if this is a mistake by the leasing office of the new broadway palace apt bldgs on broadway across from the ace hotel. It shows some of their vacant units have rates that are higher than originally listed.....a few, however, are listed at a lower rate. The leasing page shows 26 apts are currently vacant out of 679 units....or about a 4% vacancy rate. If that figure is accurate, the two bldgs did fill up at a rather good pace....so they now want to push up the monthly rents?

ocman · #**7619** Posted **Aug 13, 2018, 5:40 AM**

I’d love to see the demographics of those renting these units. 2150 for a studio?

caligrad · #**7620** Posted **Aug 13, 2018, 6:46 AM**

Hey Citywatch, Yeah that's accurate for right now but changes daily apparently, A friend of mine lives/works there and they are leasing quicker than expected.

Quote:

Originally Posted by ocman

I’d love to see the demographics of those renting these units. 2150 for a studio?

I've been there 5 times now, in the past 3 months and I can honestly tell you, the demographic is everywhere. You'll see people that you expect and you'll see people that you actually wouldn't expect at all. So any and everybody seems to be interested if its in their budget. But its interesting because they are asking for two to 3 times the amount of rent in income depending on the unit. If you are making 10k in income to afford one of their 2 bedrooms, you might as well buy a home.