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-   -   LOS ANGELES | Park Fifth - Downtown | 820 FT / 250 M | 76 FLOORS (http://forum.skyscraperpage.com/showthread.php?t=130922)

LosAngelesSportsFan May 8, 2007 2:33 AM

LOS ANGELES | Park Fifth - Downtown | 820 FT / 250 M | 76 FLOORS
 
http://i13.photobucket.com/albums/a2...urdada/1-2.jpg

http://i13.photobucket.com/albums/a278/Imyurdada/2.gif

High-profile L.A. residential tower unveiled
By Roger Vincent, Times Staff Writer
2:02 PM PDT, May 7, 2007



Plans for a $1 billion twin tower condominium complex overlooking Pershing Square park in downtown Los Angeles were unveiled Monday by developers who expect to build the tallest residential building west of Chicago.

At 76 stories, the taller of the two towers would dramatically alter the city's skyline and rival in height the U.S. Bank office skyscraper. The project, named Park Fifth, also calls for a 14-story five-star hotel, fronting on the park across from the historic Biltmore Hotel.

The project joins several other massive downtown developments planned from Staples Center to Bunker Hill. The two blue-green glass condo towers would rise above the hotel, with the shorter tower reaching 43 stories.

"This is the first time in 30 years that all the stars have lined up" enough to start building Park Fifth, said Los Angeles developer David Houk, who began acquiring the land in the 1970s.

The project already has its supporters and its doubters.

Los Angeles City Councilwoman Jan Perry, who supports Park Fifth, says the building will be a boost for downtown.

"It has the great potential of becoming this iconic structure that is high-profile enough" to redefine the city's skyline, she said, and the location is appropriate for dense development.

"It's right smack dab in the midst of places where people work -- the Jewelry Mart, central business district and Bunker Hill," she said. "There's a lots of jobs within a 15-minute walk."

The project would stand at 5th and Olive streets on the site of the former Philharmonic Auditorium, which was razed in the 1980s to make way for an office and hotel complex. The demand for offices collapsed in the early 1990s and downtown has been burdened by an oversupply ever since.

But a burst of residential development in recent years has added thousands of apartments and condominiums downtown and billions of dollars worth of entertainment, shopping and hotel construction is underway or scheduled to start this year. After decades of blacklisting the area, lenders are again making loans for downtown developments.

Houk says he now has committed financial partners, most of the required development permits and has begun work on a new environmental impact report. Construction could start as soon as early 2008 and the smaller tower including the hotel could be open by 2010, he said.

The property would have six floors of underground parking to serve residents and hotel guests.

The project is drawing its doubters from people who wonder where there is a market for another huge new housing complex downtown.

Adding new downtown housing is a risk, market observers said. "There is a huge supply that far exceeds demand" at the moment, said real estate broker Stephen May of Downtown Residential Real Estate, who estimates more than 400 units are for sale.

Prices are holding level, he said, but may come down in future months as more new units hit the market and create competition.

"People wonder if this is the right time" to announce a large housing development, said economist Jack Kyser of the Los Angeles County Economic Development Corp. "Downtown is overbuilt and some other projects are grinding to a halt."

But the housing market could be thriving again by 2010, he said, and the Park Fifth gamble could pay off. A project of that size -- 732 condos and 218 hotel rooms -- "would pull the center of gravity downtown a little further to the east" and boost the appeal of the blocks around long-suffering Pershing Square, Kyser said.

The city's oldest park has long been a draw for the homeless and its walled setting above an underground garage sets it apart from the streets that surround it. Park Fifth's developers hope to help pay for improvements to Pershing Square, said Rich Marr of Brentwood-based Namco Capital Group Inc., one of Houk's financial partners.

"We are laying the groundwork" for possible upgrades to the square, said Perry.

The complex would also be connected directly with the underground Pershing Square subway station. As designed by New York architecture firm Kohn Pedersen Fox, it would wrap around the Title Guarantee Building, a 12-story art deco style office tower completed in 1930 and now being converted to apartments.

Park Fifth would also have a 15th floor garden with two outdoor swimming pools. At street level there would be restaurants and stores. Although the taller tower would have more floors than the 72-story U.S. Bank Tower two blocks away, it would be shorter in height because residential stories are not as high as office stories.

A spokeswoman for Maguire Properties Inc., owner of U.S. Bank Tower, said the company "welcomes the addition to the downtown skyline" and that Park Fifth would "bring critical mass and further enhance the central business district."

Park Fifth developers promise to bring what could be the third five-star hotel for downtown, which hasn't had a top-class hostelry for decades. No operator has been selected for the hotel in Park Fifth, but Mandarin Oriental has agreed to be part of the $2 billion Grand Avenue project, set to break ground this year, and Ritz Carlton will manage a hotel at the $2.5 billion L.A. Live project under construction near Staples Center.

Houk, the Park Fifth developer, is a former owner of the Pasadena Playhouse and bought the Variety Arts Center on South Figueroa Street in downtown Los Angeles last year with the intention of restoring the historic theater and reopening it as an entertainment venue.

Investor Namco Capital Group owns commercial and residential property in Southern California, including the Marriott Los Angeles Downtown hotel. Also investing in the project is Africa Israel Investments Ltd., a publicly traded development company based in Israel.

dktshb May 8, 2007 2:47 AM

Good news it will be nice to have some residential around Pershing Square and if they can do something with the park it would be even better.

JDRCRASH May 8, 2007 4:20 AM

You know, i've been thinking...as big as this downtown growth is.....i got a good feeling that this is just the beginning of possibly the largest downtown boom in Los Angeles history.

I mean at the rate people are moving into Southern California; no matter how many seismic faults there are, no matter how costly things are, the development in the basin is going explode like a shaken soda bottle during this 21st century.

Stephenapolis May 8, 2007 5:59 AM

I like this tower. I really hope it gets built. It will be an excellent addition to LA.

colemonkee May 8, 2007 7:02 AM

Larger render from the web site...

http://img148.imageshack.us/img148/9...ndernewus8.jpg

Quixote May 8, 2007 7:03 AM

^Thanks Colemonkee!

Fabb May 8, 2007 7:14 AM

I like the way the complex integrates an older structure.
That's interesting.

edluva May 8, 2007 7:57 AM

Great job guys. I just hope even 25 percent of it reaches groundbreaking

fflint May 8, 2007 8:12 AM

Sweet design and awesome density.

NYguy May 8, 2007 11:34 AM

Quote:

Originally Posted by JDRCRASH (Post 2821140)
You know, i've been thinking...as big as this downtown growth is.....i got a good feeling that this is just the beginning of possibly the largest downtown boom in Los Angeles history.

That would be cool. LA needs a skyline worthy of its size.

http://i13.photobucket.com/albums/a2...urdada/1-2.jpg

Reminds me of the NY Times tower, but this one looks good...

NYC2ATX May 8, 2007 1:37 PM

Quote:

Originally Posted by LosAngelesSportsFan (Post 2820922)
http://i13.photobucket.com/albums/a2...urdada/1-2.jpg

The complex would also be connected directly with the underground Pershing Square subway station. As designed by New York architecture firm Kohn Pedersen Fox, it would wrap around the Title Guarantee Building, a 12-story art deco style office tower completed in 1930 and now being converted to apartments.

I think its soooo cool that they are integrating an old building like that into a new complex. That makes this project much more respectable to me. Its respecting its elders. :haha:

BANKofMANHATTAN May 8, 2007 1:51 PM

I do like the integration, but i don't care for the building, 820' of "meh"...

It almost doesn't look it's size.

NYguy May 8, 2007 1:54 PM

Quote:

Originally Posted by StatenIslander237 (Post 2821614)
I think its soooo cool that they are integrating an old building like that into a new complex. That makes this project much more respectable to me. Its respecting its elders. :haha:

The complex wraps around the old building, it doesn't really do anything to it, although it fits in neatly. LA has the space for that type of development, whereas someplace like Manhattan doesn't. What else is on site besides that 12-story building?

BrandonJXN May 8, 2007 3:35 PM

Quote:

Originally Posted by NYguy (Post 2821647)
The complex wraps around the old building, it doesn't really do anything to it, although it fits in neatly. LA has the space for that type of development, whereas someplace like Manhattan doesn't. What else is on site besides that 12-story building?

It's actually inbetween 2 buildings. The first is the Title Guarentee Building (building on the corner), and the other is Metro 417. And before anyone one complains about Park 5th blocking the view of Metro 417, Park 5th will have a huge 'window.' This is the site btw.
http://farm1.static.flickr.com/185/4...300869ed_o.jpg
Flickr: caseybenito

djvandrake May 8, 2007 5:01 PM

Great! LA deserves more of this in the downtown core. It has so much potential. The buidling design is a little conservative but clean. This will be a wonderful addition to the LA skyline and I hope there's more to come.

BigDan35 May 8, 2007 7:47 PM

Hopefully LA starts building big. As someone mentioned before, I think LA needs a skyline that matches its city's size.

Quixote May 8, 2007 9:37 PM

I disagree with this notion of a skyline needing to reflect a city's size. It's ridiculous if you ask me.

Quixote May 8, 2007 9:38 PM

Quote:

Originally Posted by BANKofMANHATTAN (Post 2821639)
I do like the integration, but i don't care for the building, 820' of "meh"...

It almost doesn't look it's size.

The architect is Kohn Pedersen Fox. I'm sure it will be much more beautiful than the renderings.

Chicago2020 May 8, 2007 9:53 PM

Looks Great :tup:

bjornson May 8, 2007 10:12 PM

Yes because the downtown skyline is the sole measurement of the L.A. skyline. None of the other ones count...

pablosan May 8, 2007 10:50 PM

Let's hope that it gets built.

wrendog May 9, 2007 1:59 AM

LA needs this! git er done!

Aleks May 9, 2007 2:56 AM

its nice but eww i hate L.A. built it in San Fran.
i like that there are trees which would help the enviorment in the area

NYC2ATX May 9, 2007 3:06 AM

Quote:

Originally Posted by NYguy (Post 2821647)
The complex wraps around the old building, it doesn't really do anything to it, although it fits in neatly. LA has the space for that type of development, whereas someplace like Manhattan doesn't. What else is on site besides that 12-story building?

you make a good point, but i still appreciate that. Mixing old and new in the proper way gives a city a fantastic texture thats hard to replicate in another way.

Like most of you I don't especially love the design, but L.A. could use some more density, and average high-rises haven't stopped mega-booms in Miami and Chicago right? :tup:

fflint May 9, 2007 6:07 AM

Quote:

Originally Posted by Aleks0o01 (Post 2823165)
its nice but eww i hate L.A. built it in San Fran.
i like that there are trees which would help the enviorment in the area

If you hate LA then do us all a favor and avoid posting in threads about LA.

Quixote May 9, 2007 6:53 AM

Quote:

Originally Posted by Aleks0o01 (Post 2823165)
its nice but eww i hate L.A. built it in San Fran.
i like that there are trees which would help the enviorment in the area

That's funny. The project was specifically designed for that location right across from Pershing Square. A representative of Kohn Pedersen Fox mentioned a while back that the project is different from anything they would design in Chicago or San Francisco.

Dream'n May 9, 2007 1:06 PM

Great looking building. Hope it gets built. I think this building has a total retro 60's SoCal look to it and that's not a bad thing by any means. Very clean and modern.

Dale May 9, 2007 2:00 PM

I think it looks fantastic!

Now, won't this be on or near the highest point in the CBD ?

Buck May 9, 2007 2:07 PM

I love this! Way to Go LA... it's about time.

colemonkee May 9, 2007 4:12 PM

Quote:

Originally Posted by Dale (Post 2823749)
Now, won't this be on or near the highest point in the CBD ?

If you're thinking about base elevation, no. It's at the bottom of Bunker Hill, and the taller tower is completely removed from Bunker Hill. US Bank Tower (the tallest in LA) sits about 50-75 higher in base elevation, and the nearby Cal Plaza 2 (750 ft.) sits about 100 feet higher, so this tower will look "shorter" than it really is in a skyline view. It will probably look equally tall as Cal Plaza 2, actually.

The one thing this tower has that Cal Plaza 2 doesn't have is horizontal delineation of the floors, that will make it feel taller.

JDRCRASH May 9, 2007 4:16 PM

LA's reputation has been shadowed by its lack of built up development, its CLEARLY WORSENING reliance on automobiles, and its lack of Public Transportation.

We may not need a skyline as big as New York City Westsidelife, however if we want our city to expand and grow even higher and furher, high-rise development should be taken into account ;)

Dale May 9, 2007 4:32 PM

Quote:

Originally Posted by colemonkee (Post 2824014)
If you're thinking about base elevation, no. It's at the bottom of Bunker Hill, and the taller tower is completely removed from Bunker Hill. US Bank Tower (the tallest in LA) sits about 50-75 higher in base elevation, and the nearby Cal Plaza 2 (750 ft.) sits about 100 feet higher, so this tower will look "shorter" than it really is in a skyline view. It will probably look equally tall as Cal Plaza 2, actually.

The one thing this tower has that Cal Plaza 2 doesn't have is horizontal delineation of the floors, that will make it feel taller.

Gotcha. Still, not too shabby for apparent height.

Scruffy May 9, 2007 5:14 PM

it looks shorter than 820 feet. interesting design it seems. the trees on the balconies is a nice touch. whether or not those trees actually happen is another story

Stratosphere May 11, 2007 1:24 AM

When will we ever see a building with a slanted roof or pointy top in LA?

Rizzo May 11, 2007 1:34 AM

I love this building! Great design, great integration with the existing fabric.

BrandonJXN May 11, 2007 1:44 AM

Quote:

Originally Posted by Stratosphere (Post 2827632)
When will we ever see a building with a slanted roof or pointy top in LA?

Hopefully soon.

The City House and The Olympic
http://img297.imageshack.us/img297/8...eftviewlf3.jpg

JDRCRASH May 11, 2007 5:31 PM

Well as long as we have that absurd rooftop helipad ordinance, were never going to get any spired or slanted buildings. Of course then again there is the Angel Center and the Ionic GAP Tower

Easy May 12, 2007 2:10 AM

Quote:

Originally Posted by JDRCRASH (Post 2828929)
Well as long as we have that absurd rooftop helipad ordinance, were never going to get any spired or slanted buildings. Of course then again there is the Angel Center and the Ionic GAP Tower

It was posted here over a year ago that LA buildings can now have spires if they use some advanced elevator technology. LAB broke the news, but maybe someone with more knowledge or a better memory can explain.

plinko May 12, 2007 2:13 AM

Quote:

Originally Posted by ThreeHundred (Post 2827682)
Hopefully soon.

The City House and The Olympic
http://img297.imageshack.us/img297/8...eftviewlf3.jpg

My lord, they've actually gotten worse!! :koko:

Stratosphere May 12, 2007 2:57 AM

An art deco building in the 21st century???

Quixote May 12, 2007 3:04 AM

^They're not Art Deco. They're Beaux-Arts.

Stratosphere May 12, 2007 8:37 PM

:previous:

Excuse my ignorance, but what's the difference between these two styles?

Quixote May 12, 2007 8:42 PM

^They're vastly different from one another. Look it up.

NYC2ATX May 13, 2007 1:45 AM

I hate to further a somewhat off-topic discussion, but since when are the City House and Olympic twin towers? Last I saw they were two separate buildings with different heights and different designs. anyone? anyone?

In response to you Stratosphere, I can venture a guess that the reason they would propose neo-beaux-arts buildings in 2007 is that they don't have any tall buildings of that style currently, since L.A. is such a young city. It would do them well because it would help them measure up against competing mega-skyline cities like New York and Chicago, both of which are crazy with art deco and beaux-arts buildings.

It's about the texture, people.

This is my theory.

BrandonJXN May 13, 2007 3:17 AM

Quote:

Originally Posted by Stratosphere (Post 2831158)
:previous:

Excuse my ignorance, but what's the difference between these two styles?

Beaux-Arts
http://www.nordmag.fr/nord_pas_de_ca...rts_facade.jpg

Art Deco:
http://www.artofthestate.co.uk/photo...e_building.jpg

Statenislander: Downtown LA has Beaux-Arts building all over. The City House and The Olympic would be a exclamation point of that style.

Ersh May 13, 2007 4:29 AM

The Park Fifth is a great looking building! About time downtown LA got to thinking high. :tup:

The City House and Olympic looks out of scale to me...Reminds me of one of those Beaux-Arts apartment buildings that line Central Park, but scaled waaaaay up. How tall is it?

Stratosphere - I heard that all buildings above a certain height (200'? cant remember exactly) have to have flat roofs to allow for helicopter evacuations if there's a major earthquake. Note all the helipads here. Interesting how City House and The Olympic got past the requirement. (Or did the city lift the restriction now?)

Rise To The Top May 13, 2007 6:36 AM

Man, they really should get something taller than this, I'm getting sick of the Bank Tower, looks hideous to me.

Quixote May 13, 2007 8:34 AM

^That's the first time I've ever heard someone use the word "hideous" to describe the US Bank Tower. ;)

Quixote May 16, 2007 5:57 AM

Park Fifth Architectural Landmark Elevates ''Infinity Living'' in Downtown L.A.

Opulent, $1 Billion High-Rise Condominiums to Soar as Tallest Residential Edifice in the West

May 15, 2007

http://mms.businesswire.com/bwapps/m...id=95733&vid=4http://mms.businesswire.com/bwapps/m...id=95730&vid=4

LOS ANGELES--(BUSINESS WIRE)--Los Angeles will be looking up in wonder as the spectacular Park Fifth, the tallest residential building west of Chicago, rises in Downtown Los Angeles. Capital partners Africa Israel and Namco Capital Group along with Houk Development Company are creating an architectural landmark in their visionary plans for Park Fifth, the first luxury residential high-rise to be built in Downtown. The Park Fifth project will also include a five-star hotel, to be operated by one of the leading names in luxury hospitality.

In a defining moment of the renaissance that is transforming the heart of Los Angeles, the estimated $1 billion Park Fifth will elevate the Downtown horizon and bring a new, exciting style of opulent “infinity living” to the corner of Fifth and Olive Streets, across from historic Pershing Square. And it’s almost here—Park Fifth’s sales center, which includes life-sized models of its 732 residential units, will open by appointment in summer 2007, with groundbreaking slated for the first quarter of 2008, highlighting the project’s exquisite taste and luxurious atmosphere; the high-tech wealth of comfort, service and amenities; and the fantasy and flair of Park Fifth’s high-energy, super-connected, here-and-now scene.

Park Fifth living opens an infinite variety of possibilities to its residents’ imagination, from cultural activities, to entertainment and nightlife, to active exploration of L.A.’s vibrant Downtown. The sophisticated design’s expansive glass walls will command floor-to-ceiling, unimpeded panoramic views of the city, from the ocean to the mountains. The striking architecture of Park Fifth, designed by the internationally renowned firm of Kohn Pedersen Fox, integrates the refinement of a New York-style luxury residential tower with the golden, quintessentially Southern Californian climate and lifestyle.

"Loft architecture has dominated the large amount of residential development in Downtown Los Angeles in recent years. We believe the city is ready for a new phase of sophisticated urban living that integrates the upscale urban lifestyle with Southern California’s unique character and natural setting,” said Rich Marr, the project manager. "This pioneering project creates a landmark that will stand as a powerful statement of Downtown Los Angeles’ revitalization into a cultural, entertainment and social center.”

The design features a lofty 76-story tower and a 43-story tower, connected by a 15-story residential bridge. The hotel will occupy the lower floors through the bridge area, and the condominium units in the 43-story tower will be identified with the hotel brand and offer their residents access to the hotel’s amenities and services.

While the 76-story tower will attain icon status as the tallest residential building west of Chicago, two mid-rise buildings surrounding a plaza will relate in height and proportion to the early 20th-century commercial buildings of the historic Downtown core. A monumental, eight-story “urban window” through the Fifth Street façade frames a view into the plaza from Pershing Square.

The plaza embodies the vision of Park Fifth’s creators of a Downtown oasis. Without sacrificing sunlight, open air spaces and green foliage, architecture and nature blend in Park Fifth’s plaza, sky gardens, private lanais and terraces. Glass balconies and floor-to-ceiling windows allow barrier-free views of the vastness of the city and its marvelous natural setting.

Park Fifth will offer 732 living units of varying sizes, attuned to the infinitely varied styles of California living. Choices for residents range from $400,000 to $3 million, including:

• Beautifully appointed units, ideal for live/work spaces

• Pied-à-terre suites designed for commuting professionals

• Two-story, 3,000-square-foot residences, and

• All units equipped with state-of-the-art technology, including telecommunications, entertainment, and next-generation “smart house” systems.

Amenities for residents include:

• Two rooftop pools and oversized whirlpools with food and bar service

• An observation deck on the 76-story tower

• Rooftop gardens on the 15th and 36th floors of the 43-story tower with built-in fire pits

• Fitness rooms in each tower

• 20-seat theater viewing rooms, music and video libraries in each tower, and

• Classrooms for wine tastings, cooking classes and other educational seminars.

The Park Fifth Public Plaza Level features a sculpture garden, water features, a casual café, and an elegant restaurant offering indoor and outdoor dining overlooking the park at Pershing Square. The hotel at Park Fifth features a luxurious health spa offering treatments to residents and guests.

The world-class Park Fifth project team includes design by globally renowned architect Eugene Kohn of Kohn Pedersen Fox (KPF), who was responsible for such imaginative venues as the Rodin Museum (Seoul), the award-winning towers and urban courtyard of De Hoftoren (the Hague and the Museum of Modern Art, New York). The Los Angeles office of the Leo A. Daly architectural firm will assist KPF to complete working drawings and provide construction supervision. Interior design is by the leading international firm Hirsch Bedner Associates.

About Park Fifth Development Partners

Park Fifth’s capital partners, Africa Israel and Namco Capital Group, along with development partner Houk Development Company, bring a wealth of experience and capability to the venture. Africa Israel is a publicly traded, Israel-based international development company with a strong U.S. presence with its U.S. headquarters in New York and multiple projects underway in Manhattan, Miami, Las Vegas, Phoenix, Myrtle Beach, South Carolina and now Los Angeles. Brentwood, CA-based Namco Capital Group owns and manages more than 10 million square feet of residential and commercial projects in Southern California and across the U.S. Namco also owns a community bank in Los Angeles, operates an insurance brokerage firm, serves as a large 1031 exchange accommodator and has an active mezzanine financing division. Houk Development Company has been responsible for numerous high-profile projects throughout the Los Angeles area for nearly 30 years. Based in Los Angeles, the company has been a major participant in the Downtown renaissance and currently owns, develops and manages real estate properties in Southern California.

For more information please visit www.parkfifth.com or call (213) 629-0000 for an appointment.

http://home.businesswire.com/portal/...ews_view_popup

http://i63.photobucket.com/albums/h1.../ParkFifth.jpg
High Resolution: http://home.businesswire.com/portal/...nfigId=1000837

colemonkee May 16, 2007 4:29 PM

Great new rendering. The top looks a little awkward, but the rest of the design - especially the various park and pool decks - look great.


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