LOS ANGELES | Park Fifth - Downtown | 820 FT / 250 M | 76 FLOORS - Page 10

BrandonJXN · #**181** Posted **Nov 10, 2007, 6:10 PM**

I think this has a very good chance of going up. Despite the slump in housing NOW, that can all change in 2 and a half years.

JDRCRASH · #**182** Posted **Nov 23, 2007, 12:09 AM**

^ ^ ^
I agree

BrandonJXN · #**183** Posted **Nov 30, 2007, 4:14 AM**

Park Fifth's sales center had a sneak peek today. All pics by David Bullock (eecue.com)

ArchMadness · #**184** Posted **Dec 3, 2007, 10:00 PM**

I'd take that view.

edluva · #**185** Posted **Dec 4, 2007, 5:18 AM**

it almost looks like taipei 101 in the first pic. almost.

LAofAnaheim · #**186** Posted **Dec 4, 2007, 5:44 AM**

^ And that's not a bad thing..that's a good thing.

edluva · #**187** Posted **Dec 4, 2007, 5:54 AM**

^yeah, a good thing park fifth avoids looking too much like it. this rendering is innocuous enough so that i'll reserve judgement for the real thing (if it ever gets off the ground)

Echo Park · #**188** Posted **Dec 4, 2007, 5:55 AM**

the only thing i dont like about it is it makes the title guarantee building look like some kind of weird ornament. otherwise infill is infill.

colemonkee · #**189** Posted **Dec 5, 2007, 1:21 AM**

Meh, I'm still not diggin' the offset mechanical penthouse on the taller tower. Looks slapped on. The shorter tower, on the otherhand, looks perfectly proportioned and the balcony layouts flow very well over the overall composition. I just wish the taller tower had a balanced flow that made sense all the way to the top.

Those thoughts aside, I really hope it gets built.

Quixote · #**190** Posted **Jan 31, 2008, 1:13 AM**

Park Fifth Not Breaking Ground As Planned, After All

January 30, 2008

After all of the controversy, guesswork and rebuttals surrounding Park Fifth and its funding status last year, Houk Development Company still contended that their 76-story Phase I residential skyscraper was set to break ground in the first quarter of 2008.

Since that time, a breathtaking $5 million sales center has opened, over 300 reservations have been signed, and progress has been made with permitting and planning.

Things are “looking up,” right?

Well maybe, but not for a while. Stephanie Holbrook, a spokesperson for the Park Fifth project, tells us today that groundbreaking has been pushed back to the third quarter of 2008.

Even with the significant delay, Holbrook asserts that the first tower is still on track to meet its 2010 completion.

Our experience tells us otherwise. Though, the developers’ continued broadcasting of the luxury development over an extensive marketing campaign is positive sign of their dedication to see it off the ground.

Park Fifth is the latest in a growing list of Downtown projects that have experienced setbacks due to rising construction costs, an unsteady housing market, and problems with financing: LA Central, 1027 Wilshire, South Figueroa, and the Grand Avenue Project are some of the more notable ones.

We’re waiting to hear back from Holbrook about the cause of the delay and will keep our fingers crossed for a third-quarter groundbreaking. The last thing we want to see is this iconic vision reincarnated in five years as a twin 15-story dud.

The project’s second phase, a 43-story tower that will be home to an unnamed five-star hotel, has no construction date set.

-$3 Billion Predicament: Grand Avenue Project Delayed
-South Figueroa (Formerly Jardin) Pushed Back a Year
-A Peek Inside the Park Fifth Sales Center (Blogdowntown)
-Rumor Mill: Park Fifth Project in Trouble? (Curbed)

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Source: angelenic

dktshb · #**191** Posted **Jan 31, 2008, 1:29 AM**

That sucks.

BigDan35 · #**192** Posted **Jan 31, 2008, 2:54 AM**

Fuckin figures. Doesn't surprise me at all. This has been happening with every project recently. I guarantee, come 3rd quarter of 2008, there will be another delay, pushing it back to 2nd quarter of 2009, and so on and so on.

JDRCRASH · #**193** Posted **Jan 31, 2008, 4:06 AM**

JDRCRASH · #**194** Posted **Jan 31, 2008, 4:08 AM**

Funny, I was told 1027 Wilshire had the best chance of breaking ground; guess it turns out that some people have absolutely no accurate info after all, and only disagree based on opinions.

Quixote · #**195** Posted **Feb 3, 2008, 10:40 AM**

^ I think you're referring to Park Fifth, no?

Anyways, this isn't the least bit surprising. We all saw it coming.

JDRCRASH · #**196** Posted **Feb 4, 2008, 5:51 AM**

No, seriously; someone in the Rundown thread said that 1027 Wilshire had the best chance of breaking ground, which turns out to be false.

Quixote · #**197** Posted **Feb 4, 2008, 10:04 PM**

^ This thread is about Park Fifth, not 1027 Wilshire.

And I don't recall anyone ever saying that 1027 Wilshire had the best chance of breaking ground. According to Angelenic, financing is still "up in the air."

Park Fifth, on the other hand, has opened up a sales office, taken over 300 reservations, and received funding.

JDRCRASH · #**198** Posted **Feb 5, 2008, 5:09 AM**

Quote:

Originally Posted by Westsidelife

^ This thread is about Park Fifth, not 1027 Wilshire.

And I don't recall anyone ever saying that 1027 Wilshire had the best chance of breaking ground. According to Angelenic, financing is still "up in the air."

Park Fifth, on the other hand, has opened up a sales office, taken over 300 reservations, and received funding.

Sorry, but if seems that you haven't been visiting the L.A. Downtown thread lately. Look through and you will find it.

Quixote · #**199** Posted **Feb 5, 2008, 7:07 AM**

^ I visit that thread daily, thank you very much.

You must be referring to that post on the blog Angelenic, where it reported on the confidence of the Central City Group Development to secure financing for the tower. Means squat, as previous experiences would show.

JDRCRASH · #**200** Posted **Feb 5, 2008, 5:08 PM**

^
I really don't know what to believe anymore. So many developers claim that they have necessary funds and support to follow through, but much of the time it appears that they don't.

As for Park Fifth, it probably won't make it this year.