LOS ANGELES | Downtown Project Rundown 4.0

[StethJeff]

Originally Posted by citywatch

Wood Partners Announces Plans to Build an All-Glass Luxury High Rise Multifamily Project in Los Angeles

LOS ANGELES, CA -- (Marketwire) -- 07/06/12 -- Plans for a luxury, glass high-rise apartment project in downtown Los Angeles -- shelved during the 2008 economic downturn -- are on the front burner again as high demand and low construction costs make multifamily housing attractive to investors and developers.

Wood Partners, the nation's leading builder of multifamily housing, expects to break ground on the 22-story, 290-unit project in the South Park district at 801 S. Hope St. in September, with leasing to start in the summer of 2014.

"Downtown LA is seeing significant investment activity," said Brian Hansen, Wood Partners' director of development for Southern California. "That's why our timing on Hope Street is perfect. Because we started in 2007 and now have full construction drawings, we'll be among the first projects out of the gate, and one of the first post-recession high-rises located in downtown."

The .7 acre yet-to-be named complex was purchased by Wood Partners back in 2008. The project will be modeled after Glass House Dallas, the developer's popular 375-unit luxury apartment community in Texas, and its 393-unit high-rise condo project, Glass House Denver.

The one-and two-bedroom units will consist of floor-to-ceiling glass, and will incorporate the most popular floor plans of Wood Partners' many existing high rise multifamily residential communities across the country.

The Hope Street high-rise will offer an impressive amenity package, and each unit will include an expansive balcony and high-end interior finishes.

Also included is an approximate 10,000 square foot elevated pool deck with thoughtfully designed clubroom with retractable glass walls that lead out to the oversized pool, outdoor social/dining area, spa, fire pit and garden retreat. Additionally, a roof top deck overlooking the Staples Center and LA Live to the southwest and the high rise buildings of the Central Business District to the north will provide additional outdoor gathering/event option for residents.

Parking will be on six levels, two of them underground, with 5,000 square feet of retail space on the street level.

Less units than both the Dallas and Denver glass houses? C'mon man.