LOS ANGELES | Downtown Project Rundown 6.0

[hughfb3]

Citywatch

These are two separate studio projects rendered and what the article is writing about, there’s “East End Arts District” and “East End Mission,” but both are in the arts district area. One is on the east side of the river and one on the west, both by the same developer. East End’s Mission site has 5 studios but the one pictured with the ground breaking ceremony has at least 12. The one that broke ground is the smaller one, not the larger one in the render attached.

Below is the larger one

https://eastendstudios.com/campus/adla-campus/

[citywatch]

^ I didn't realize there was more than one studio planned for the east side of dtla. I'm cautious about such projs nowadays because the entertainment industry in LA is facing alot of uncertainty.

meanwhile....


• Video Link

[scania]

How absurd...the entertainment industry is expanding like crazy in LA. Anyone that knows an ounce about TV , TV Streaming, etc. knows how the filming industry alone is growing here in LA. Back on Block button. Ha #insanity

[202_Cyclist]

Originally Posted by scania

How absurd...the entertainment industry is expanding like crazy in LA. Anyone that knows an ounce about TV , TV Streaming, etc. knows how the filming industry alone is growing here in LA. Back on Block button. Ha #insanity

I heard the exact opposite, that streaming is really struggling lately and there have been layoffs in the entertainment industry.

https://www.latimes.com/entertainmen...cost-of-living

[Radio5]

Originally Posted by 202_Cyclist

I heard the exact opposite, that streaming is really struggling lately and there have been layoffs in the entertainment industry.

https://www.latimes.com/entertainmen...cost-of-living

You're correct, the motto amongst the creatives (and the real estate industry) is "survive till 2025". Studios are expanding because of tax credits but also forecasted demand in the near the future.

[scania]

Originally Posted by Radio5

You're correct, the motto amongst the creatives (and the real estate industry) is "survive till 2025". Studios are expanding because of tax credits but also forecasted demand in the near the future.

Not the creatives at SoHo House. It’s a lot of work that’s out there now. But I’ll digress…this is not the forum for this conversation.

[202_Cyclist]

Originally Posted by Radio5

You're correct, the motto amongst the creatives (and the real estate industry) is "survive till 2025". Studios are expanding because of tax credits but also forecasted demand in the near the future.

I don’t have any particular insight, as I don’t work in the entertainment industry. I just try to read and stay informed. My Hudson Pacific Properties stock, which builds commercial properties for the film and television industry, has been absolutely devastated over the past couple of years.

[JRinSoCal]

Does anyone have any info on a Los Angeles developer in talks to buy Oceanwide Plaza? There is an article in the Wall Street Journal about it but since they require a paid subscription to read the full article I can't access it. I can't find anything else online about it.

[citywatch]

^

mario tama/getty images

a trio of half-completed, graffiti-covered skyscrapers in downtown los angeles has become one of the world’s most notoriously stalled real-estate projects. now a buyer has emerged to give it new life.

now the brokers representing the building’s owners in bankruptcy court are in advanced talks with an unidentified local developer to acquire oceanwide plaza.

“this project’s going to be completed,” azuse said, adding that oceanwide spent years and more than $1 billion securing zoning and building permits as well as constructing more than half the complex. “now somebody can come in and essentially take over from where the previous ownership stopped and finish it.”

suzanne holley, chief executive of the downtown los angeles alliance, a coalition of property owners in the neighborhood, said there is still demand for the project’s promised housing and hotel rooms. While office vacancy rates have reached record highs, foot traffic in the neighborhood is only slightly below prepandemic levels, supported by tourism and residential activity.

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