LOS ANGELES | Downtown Project Rundown 6.0

[citywatch]

Originally Posted by caligrad

A friend of mine lives/works there and they are leasing quicker than expected.

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.

thanks for the info! knowing things like that is very helpful in trying to guess what will happen to dt in the next several yrs. Although certain projs end up more popular than others?

there will be a large supply coming online in the next 2 yrs, so renters in dt right now must be praying that the supply helps balance the demand.....otherwise pressure to raise the monthly will be easier in a landlord's mkt, not a tenant's.

the builder of these projs isn't exactly the most well liked among various urbanists & design mavens....but since over 15 yrs ago his apt devlpts, which started the more recent trend of totally new housing in dt, have managed to do quite well. I don't care for the way he keeps cloning the look of all his bldgs....not sure why he insists on doing that. The one on broadway at least has a different exterior....but that was forced upon him by the street's design code.

for all his other projs, maybe he figures why tamper with success?

the design features of the lobby in the bldg across from the ace hotel definitely took more time & money to create....the plain deconstructionist look favored by many devlprs is easier & cheaper to put together.



broadwaypalaceapartments.com


broadwaypalaceapartments.com


broadwaypalaceapartments.com


^ hopefully the restored tower theater a few blocks away will be as shiny an original version as the faux one at the broadway palace.

[LosAngelesBeauty]

How Bringing Broadway West Could Transform DTLA

https://brighamyen.com/wp-content/up...te-Plan-th.jpg

[Blesha13]

Anyone else thinks the cycle is winding down? Any proposals that are unlikely to get built during this cycle?

[LAsam]

Originally Posted by Blesha13

Anyone else thinks the cycle is winding down? Any proposals that are unlikely to get built during this cycle?

I think a lot of residential inventory is being introduced to the downtown market all at once, and developers are going to observe how this inventory is absorbed prior to breaking ground on new downtown residential. I also think downtown hotel projects, specifically ones not financed via capital from China, are pretty safe to move forwards. The two hotel towers at Fig and Pico seem the most likely next candidate to break ground. I also think the historic conversion cycle in the old financial district, and the influx of retail, is most definitely not winding down.

[Blesha13]

Originally Posted by LAsam

I think a lot of residential inventory is being introduced to the downtown market all at once, and developers are going to observe how this inventory is absorbed prior to breaking ground on new downtown residential. I also think downtown hotel projects, specifically ones not financed via capital from China, are pretty safe to move forwards. The two hotel towers at Fig and Pico seem the most likely next candidate to break ground. I also think the historic conversion cycle in the old financial district, and the influx of retail, is most definitely not winding down.

Is it likely that Angels Landing and LA Grand Hotel Tower will get built during this cycle though?

[colemonkee]

Angels Landing is anyone's guess, but Related plans to start demolition on the parking structure for the Grand Ave. project later this year, so that one seems likely. The lion's share of the financing did come from a Chinese bank, so there's a possibility that could dry up - or be pulled/limited by the Chinese government - but until we hear otherwise, all current signs point to that one moving forward.

[Easy]

Cycle winding down? Maybe but I live near Aven/Mack Urban and just got a letter for a public hearing scheduled for 9/5. They filed an application to start phase 2 (phase 3 if you include wren) which is a 16 story hotel on the NW corner of Olive/12th.

I would guess that the hotels replacing Hooters could start demo within the next few months as well.

Maybe we’re in the hotel phase of the cycle?

[caligrad]

Its hard to say....We're still deep in a hole when it comes to housing, what's being built isn't even a drop in the bucket and the fact that a lot of these projects are leasing/selling quickly, that shows that in regards to housing, the demand is still very much so there.

Hotels...I've always found the hotel construction downtown interesting, we seem to be building a lot of it but according to people, its still not touching the demand. So who knows.

When we refer to cycles, i think we all still refer to the 2007-2010 recession as something as "normal" when it wasnt, it was an anomaly. The next downturn wont be as drastic unless something ridiculous happens and the worlds economies crumble.

[hughfb3]

The CEO of MacFarlane has already said in a couple of interviews that Angel’s Landing will likely be built in the NEXT cycle.

https://www.prea.org/videos/Victor-MacFarlane/

[cesar90]

• Video Link

[LosAngelesSportsFan]

I think by years end we will see the following projects break ground

1) Lighthouse hotel towers in south park replacing the Hooters / Icon
2) Grand Ave Project
3) Cambria Hotel
4) W Hotel (Phase 1)

[Jun]

Well if the cycle for new towers are over (or winding down as it seems), I wouldn't be too upset as long as we keep getting all these awesome historic building revitalizations that have been popping up.

[Blesha13]

The Boring Company is proposing to build Dugout Loop to alleviate traffic on the 110 and Sunset Blvd. It'll carry fans from one of the Metro Red Line Stations on Vermont Ave to Dodger Stadium in 4 minutes! Let's hope they get it done.

[colemonkee]

I think that would be amazing, and am all for it.

[caligrad]

https://www.msn.com/en-us/sports/mlb...D=ansmsnnews11

These proposals with no price tag or clear vision on what actually needs to happen like utilities transfer, property buy out, seismic issues, etc. always end up being the best lol. Looking forward to being dragged along for the next few years. Yet.... He has the price per ride at $1? HAHA ok

https://urbanize.la/post/1920s-offic...ome-apartments

Also...Seems like Apple is already having an affect on Broadway already. Keep it coming.

[Eightball]

^^^ i think that one is more due to the fact two high rises were just built across the street and catercorner

I walked from 4th/Broadway to about 14th and Broadway or so and i must say that must (might) have more construction than any similar sized stretch in the whole city/metro area. Numerous small commercial renovations/buildouts, 5 or so large entire historic building conversions/renovations, the highrise at 4th and Broadway and more. Plus the large complex going up on Broadway directly across the interstate in Chinatown. And a ton of construction has just recently been completed and so much more planned to break ground soon.

Greenland secures $310 million for Metropolis 3rd DTLA Tower

"Greenland USA obtained $310-million in financing to complete the third luxury residential tower at Metropolis in Downtown Los Angeles. French lender Natixis and Los Angeles-based Cottonwood Group arranged the senior construction loan facility..."

https://www.connect.media/greenland-...rd-dtla-tower/

[LosAngelesSportsFan]

Originally Posted by Eightball

^^^ i think that one is more due to the fact two high rises were just built across the street and catercorner

I walked from 4th/Broadway to about 14th and Broadway or so and i must say that must (might) have more construction than any similar sized stretch in the whole city/metro area. Numerous small commercial renovations/buildouts, 5 or so large entire historic building conversions/renovations, the highrise at 4th and Broadway and more. Plus the large complex going up on Broadway directly across the interstate in Chinatown. And a ton of construction has just recently been completed and so much more planned to break ground soon.

Greenland secures $310 million for Metropolis 3rd DTLA Tower

"Greenland USA obtained $310-million in financing to complete the third luxury residential tower at Metropolis in Downtown Los Angeles. French lender Natixis and Los Angeles-based Cottonwood Group arranged the senior construction loan facility..."

https://www.connect.media/greenland-...rd-dtla-tower/

The 8th and Spring apartment conversion has been in the plans for a while. They have only been signing short term retail leases for a couple years. Of course, the owners are the same as the Tower so they have known all along...

Great news about the Metropolis funding.

[citywatch]

Originally Posted by Eightball

Numerous small commercial renovations/buildouts, 5 or so large entire historic building conversions/renovations, the highrise at 4th and Broadway and more. Plus the large complex going up on Broadway directly across the interstate in Chinatown. And a ton of construction has just recently been completed and so much more planned to break ground soon.

Greenland secures $310 million for Metropolis 3rd DTLA Tower

don't forget one of the larger projs in the shadow of city hall, on weller st in the little tokyo area.....



designerestates.com


I should have added this other proj since unlike most of the others it's a non profit, community based proj totally dependent on the wishes & support of ppl in little tokyo....

rafu.com

For those passing by the future site of Terasaki Budokan sports and community center on Los Angeles Street between Second and Third streets in recent weeks, it’s been apparent big changes are afoot.

The six-story VIDA building, which previously occupied the parcel, has been demolished. Bulldozers with towering arms operate between hills of broken concrete and tangled rebar.

“It’s definitely an exciting time for the project,” said Little Tokyo Service Center (LTSC) Executive Director Dean Matsubayashi. “After years of hard work and perseverance, it’s gratifying to see construction in full swing.”

Advocates for a gymnasium in Little Tokyo have been calling for a facility since the 1970s. In 1994, the nonprofit social services and community development organization LTSC took on the project under the leadership of then Executive Director Bill Watanabe. Strong community support propelled the campaign forward.

• Video Link


^ think of what things will be like when oceanwide opens a few blocks away, etc....

I recall a person based in beverly hills posting a comment....don't recall if it was in a newspaper or blog....over 15 yrs ago about his visiting dt. He marveled at how many old time bldgs still existed in the historic core. That was a time when dtla wasn't on most ppl's itinerary....I felt sad that ppl on the westside & elsewhere rarely paid a visit to dt, or wanted to.

I remember an oldtime actress...the type who rarely went east of fairfax....saying over 20 yrs ago she had to visit the biltmore hotel one day & didn't realize how the bldg had some impressive murals.

good thing LA is no longer so unbalanced between west, east, south & north.

[caligrad]

https://urbanize.la/post/broadways-s...livework-lofts

The Singer building next to the future Apple Store is going full revive, Vans lucked out getting their store next to an Apple Store.

[Quixote]

I love the manner in which the Historic Core is being revived. You have boutique hotels next to condos/lofts/apartments next to creative office space... all on top of retail. It’s evolving into a truly mixed-use neighborhood, as opposed to a place that looks pretty but empties out in the evening.