LOS ANGELES | Downtown Project Rundown 6.0 - Page 448

headcheckjj · #**8941** Posted **Jan 28, 2020, 5:39 PM**

I know the developer behind the LA Grand tower over on Fig/3rd was caught up in that FBI raid last year. Anyone know where that project stands? Will it still happen?

https://www.latimes.com/local/lanow/...114-story.html

Niftybox · #**8942** Posted **Jan 28, 2020, 9:34 PM**

Quote:

Originally Posted by headcheckjj

I know the developer behind the LA Grand tower over on Fig/3rd was caught up in that FBI raid last year. Anyone know where that project stands? Will it still happen?

https://www.latimes.com/local/lanow/...114-story.html

Nothing since a year ago, my guess is investigation is ongoing and plans will eventually be axed due to it being an attention magnet as it would be the tallest building in the Western US. (If anyone knows they're guilty that is)

chris08876 · #**8943** Posted **Jan 29, 2020, 7:13 PM**

High rise fire in LA today.

• Video Link

WonderlandPark3 · #**8944** Posted **Jan 29, 2020, 7:14 PM**

Quote:

Originally Posted by chris08876

High rise fire in LA today.

This wasn't in downtown LA, the fire is in Brentwood, on the West side. Glad that guy could hold on to that window so long.

citywatch · #**8945** Posted **Jan 30, 2020, 8:19 PM**

Quote:

The flood of deliveries will likely mean a temporary dip in apartment occupancy, but Griffin says that the impact is a mere side effect. “You cannot deliver that number of units all at once and not have occupancy rate dip,” he explains. “But, the really relevant stat to us is that if you only go back one quarter, meaning everything that has opened prior to quarter four, the vacancy rate is 91.6%. If you look at mature properties, which we define as being open for one year, the occupancy rate is at 95%. That is what we really base our judgment on. We feel pretty good about the market’s ability to absorb these new units.”

The developers are actually exceeding their leasing timetables, even with the completion from other properties. “I have pretty good communication with most of these developers, and they are very pleased with the activity so far,” says Griffin. “Most of the properties that have delivered in the last year have leased up faster than the game plan. Generally speaking, there is a good bit of confidence going forward.”

^ Most everything depends on the amt of demand....dtla would have 1,000 ft tall bldgs all over the place....which ppl at SSP love dreaming about....if businesses were filling up space....residential not as much since household tenants don't have as much money to play with for rent as office tenants do.

Niftybox · #**8946** Posted **Jan 31, 2020, 12:54 AM**

Quote:

Originally Posted by citywatch

^ Most everything depends on the amt of demand....dtla would have 1,000 ft tall bldgs all over the place....which ppl at SSP love dreaming about....if businesses were filling up space....residential not as much since household tenants don't have as much money to play with for rent as office tenants do.

LA has a housing crisis, a homeless crisis not a commercial crisis. LA is mostly a destination city, residential and hotels are the only game in town at the moment.

headcheckjj · #**8947** Posted **Jan 31, 2020, 6:41 PM**

Development that has stalled:

Oceanwide and the Broadway Trade Center in downtown, as well as the Godfrey in Hollywood?

Not a good sign.

colemonkee · #**8948** Posted **Jan 31, 2020, 11:05 PM**

^ Oceanwide stalled due to over-leveraging of debt by the developer, not the broader economy or demand for residential or hotel units. Broadway Trade Center, if I'm not mistaken, has a similar story, where the developer just couldn't get the financing to align.

Easy · #**8949** Posted **Feb 1, 2020, 5:27 AM**

Are we sure that Broadway Trade Center is stalled? I see a dozen or more construction workers parking inside all the time.

LosAngelesSportsFan · #**8950** Posted **Feb 1, 2020, 5:39 AM**

Quote:

Originally Posted by Easy

Are we sure that Broadway Trade Center is stalled? I see a dozen or more construction workers parking inside all the time.

No one has been inside in st least 9 months. I live across the street

Easy · #**8951** Posted **Feb 1, 2020, 5:08 PM**

Quote:

Originally Posted by LosAngelesSportsFan

No one has been inside in st least 9 months. I live across the street

We may live at the same building. I see construction workers driving in and out of their parking garage all the time. They enter on Hill Street and they all exit around 4 or 430pm (I never actually checked my watch so that's plus or minus). Maybe they aren't working on this building and they are working on the Apple Store or some other nearby project and just park there?

headcheckjj · #**8952** Posted **Feb 1, 2020, 8:47 PM**

Cambria opening up on Spring and 4th next to the Trust Blg.

Safe to assume they abandoned their hotel plans along 9th and Georgia?

LosAngelesSportsFan · #**8953** Posted **Feb 1, 2020, 11:44 PM**

Quote:

Originally Posted by Easy

We may live at the same building. I see construction workers driving in and out of their parking garage all the time. They enter on Hill Street and they all exit around 4 or 430pm (I never actually checked my watch so that's plus or minus). Maybe they aren't working on this building and they are working on the Apple Store or some other nearby project and just park there?

That's possible. I live on Broadway and see inside. Don't see anything happening. Most likely just parking

bhunsberger · #**8954** Posted **Feb 3, 2020, 2:57 AM**

Quote:

Originally Posted by headcheckjj

Cambria opening up on Spring and 4th next to the Trust Blg.

Safe to assume they abandoned their hotel plans along 9th and Georgia?

That may not be such a bad thing. The land in between metropolis and LA live is prime for substantial skyscrapers. Especially being visible from the west and views from Griffith, etc.

caligrad · #**8955** Posted **Feb 3, 2020, 4:11 AM**

Quote:

Originally Posted by Niftybox

LA has a housing crisis, a homeless crisis not a commercial crisis. LA is mostly a destination city, residential and hotels are the only game in town at the moment.

LOL can you elaborate ?

caligrad · #**8956** Posted **Feb 4, 2020, 12:54 AM**

https://urbanize.la/post/first-phase...tion-late-2020

When you read the comments and see everyone refer to Pershing SQUARE and Pershing Park. Did LA change its function recently and turned it into a Park? This one always confused me. With a parking garage under it, keep it as a Square. No need to waste taxpayers time and money. Find other parcels of land, multiple parcels hopefully, to start from scratch for new parks, Pershing SQUARE isnt the answer to everyones need for a park downtown. Until the garage is taken up, it will never be the answer.

Mojeda101 · #**8957** Posted **Feb 4, 2020, 2:52 AM**

I just want Pershing Square to be similar to Union Square in San Fran. The problem is the immediate surrounding area. Union square is what it is because it's surrounded by appealing high-end shops and restaurants. It's a clean meeting location for the locals. Pershing? Not so much. The area around the park needs to be desirable otherwise Pershing is destined to fail.

And that's the worst part. Pershing Square used to be that. It used to be our meeting ground. It once was home to 100+ foot tall Christmas trees, the largest in the world. We need that. We need more green, we need more shops around the park. Make it a destination. The addition of all these new trees is a step in the right direction but it's concerning me that they might've dropped the initial design from the voting years prior.

Niftybox · #**8958** Posted **Feb 4, 2020, 4:31 AM**

Quote:

Originally Posted by caligrad

LOL can you elaborate ?

Just going by what I already know. I believe it's a destination city and residential, hotels and condos are needed downtown, housing prices are too high need more supply to meet demand which is without a doubt low. If you think otherwise let me know why.

pwright1 · #**8959** Posted **Feb 4, 2020, 7:35 AM**

Park 5th is finally open so I took a tour on Saturday. The rooftop amenities deck is one of the best downtown imo.

scania · #**8960** Posted **Feb 4, 2020, 4:04 PM**

Quote:

Originally Posted by pwright1

Park 5th is finally open so I took a tour on Saturday. The rooftop amenities deck is one of the best downtown imo.

Yes I agree. There amenities and rooftop is on par with Circa.