LOS ANGELES | Downtown Project Rundown 6.0 - Page 257

DJM19 · #**5121** Posted **May 11, 2017, 12:00 AM**

This just makes me think we need coordinated theme lighting more often.

blackcat23 · #**5122** Posted **May 11, 2017, 4:15 AM**

colemonkee · #**5123** Posted **May 11, 2017, 1:26 PM**

315 rooms on that lot, we're looking at at least 20-25 stories, if not 30. Here's hoping this and the 4th and Broadway development both get off the ground. These would be game changing.

BrandonJXN · #**5124** Posted **May 11, 2017, 1:34 PM**

If it's on Spring then it needs to be hip and trendy and all of that. Lol.

Easy · #**5125** Posted **May 11, 2017, 1:38 PM**

Quote:

Originally Posted by colemonkee

315 rooms on that lot, we're looking at at least 20-25 stories, if not 30. Here's hoping this and the 4th and Broadway development both get off the ground. These would be game changing.

If the downtown hotel boom takes off with these many proposals breaking ground we should continue to see a building boom even if residential slumps. And I don't think that residential will slump but we will have an oversupply for 18-24 months.

Bwin517 · #**5126** Posted **May 11, 2017, 3:37 PM**

DTLA residential, retail and hotel markets are going to boom for awhile. It's the office market that is lagging behind...

https://therealdeal.com/la/2017/05/0...tinues-report/

Eightball · #**5127** Posted **May 11, 2017, 10:54 PM**

Quote:

Originally Posted by blackcat23

315 hotel rooms

sweet

catercorner to me

black_crow · #**5128** Posted **May 12, 2017, 12:56 AM**

Quote:

Originally Posted by Easy

If the downtown hotel boom takes off with these many proposals breaking ground we should continue to see a building boom even if residential slumps. And I don't think that residential will slump but we will have an oversupply for 18-24 months.

We can't even build as much as we need.

There won't be an oversupply. The problems are more price related, luxury condos and so on.
Our residential demand is bigger than everything we will build over the next years (and that trend will continue because of our growing population and job market).

Easy · #**5129** Posted **May 12, 2017, 2:57 AM**

Quote:

Originally Posted by black_crow

We can't even build as much as we need.

There won't be an oversupply. The problems are more price related, luxury condos and so on.

Isn't that what's being built? Am I misunderstanding something? Buildings downtown are filling slowly. It will get worse. Occupancy rates will be lower. That's all that I mean.

And fwiw what we call "luxury apartments" most of the US calls "apartments". We're building fairly normal new housing. It's just more expensive here.

ChargerCarl · #**5130** Posted **May 12, 2017, 3:21 AM**

Quote:

Originally Posted by Easy

And fwiw what we call "luxury apartments" most of the US calls "apartments". We're building fairly normal new housing. It's just more expensive here.

Housing construction is actually historically low right now.

scania · #**5131** Posted **May 12, 2017, 3:29 AM**

Quote:

Originally Posted by ChargerCarl

Housing construction is actually historically low right now.

Housing construction in DTLA is not historically low.

jgacis · #**5132** Posted **May 12, 2017, 7:56 AM**

http://www.abundanthousingla.org/201...ousing-growth/

and L.A. County wide...

http://journal.firsttuesday.us/los-a...ators-2/29229/

scania · #**5133** Posted **May 12, 2017, 8:31 AM**

Quote:

Originally Posted by jgacis

http://www.abundanthousingla.org/201...ousing-growth/

and L.A. County wide...

http://journal.firsttuesday.us/los-a...ators-2/29229/

We are talking about DTLA. Some people are so quick to try and discredit progress. SMH

Easy · #**5134** Posted **May 12, 2017, 1:56 PM**

Quote:

Originally Posted by scania

We are talking about DTLA. Some people are so quick to try and discredit progress. SMH

Exactly. Downtown is booming but not everyone wants to move downtown. The new buildings south of 12th appear to be filling slowly to me. Atelier has much more interest so some new buildings may still fill quickly.

ChargerCarl · #**5135** Posted **May 12, 2017, 2:17 PM**

Quote:

Originally Posted by scania

Housing construction in DTLA is not historically low.

Yes but housing demand is regional.

jgacis · #**5136** Posted **May 12, 2017, 2:23 PM**

Quote:

Originally Posted by scania

We are talking about DTLA. Some people are so quick to try and discredit progress. SMH

Duh! Of course you and I knew that. You mention it and others may make a assumption of housing starts in DTLA or in general. Yet can't seem to get over yourself the contextual environment that DTLA sits in. That was for reference. Quick to discredit progress? Oh please, I think all of us here want to see progress.

And ChargerCarl makes a good point...

cesar90 · #**5137** Posted **May 12, 2017, 3:09 PM**

• Video Link

Easy · #**5138** Posted **May 12, 2017, 4:38 PM**

Quote:

Originally Posted by ChargerCarl

Yes but housing demand is regional.

What are you suggesting? That people that want to live near the beach, on the westside, in the Valley etc will instead decide to move downtown just because that's where housing is being built?

What I'm saying is that the large majority of people that I meet downtown moved there because they want to live downtown. A few have moved there because they couldn't find what they wanted in their preferred location and decided to give downtown a shot. So in the context that there is a finite number of people willing to move downtown, we can and will still have a shortage in the region, yet downtown apartments may still fill slowly. I hope that they don't, but that's what I see already. It took my building over a year to reach 80% and the newest buildings appear headed to take quite a bit longer. Perhaps two years.

ChargerCarl · #**5139** Posted **May 12, 2017, 4:56 PM**

Quote:

Originally Posted by Easy

What are you suggesting?

Demand outstrips supply, so I expect the building pace will continue.

Bwin517 · #**5140** Posted **May 12, 2017, 5:01 PM**

Quote:

Originally Posted by Easy

Isn't that what's being built? Am I misunderstanding something? Buildings downtown are filling slowly. It will get worse. Occupancy rates will be lower. That's all that I mean.

And fwiw what we call "luxury apartments" most of the US calls "apartments". We're building fairly normal new housing. It's just more expensive here.

Developers advertise their apartments as "luxury" to make them sound more appealing to renters/buyers but most of what's coming online are really "market rate" units. The rents are relatively median priced for the area(1bd roughly 2000-2600). The only real luxury buildings to come online downtown this year is Atelier and Metropolis.