LOS ANGELES | Downtown Project Rundown 4.0

[pesto]

Originally Posted by colemonkee

^ Technically it IS on the same block. It's in a great location, save for the blight of Los Angeles Street.

As to why developers aren't building high rises like Zen Tower left and right? They still don't pencil out for the most part. They may have in the condo boom days, but a 50-story tower like Zen won't pencil out for the foreseeable future - as condo or rental. Currently there's only two residential buildings over 20 stories that claim to be starting construction soon (but haven't just yet), and one 20 story residential tower with a well-established developer that still can't lock down financing. So while there is significant demand there, rental prices only pencil out for those few lucky developers who were able to obtain their land with plans & entitlements at a depressed cost from another floundering developer.

So in terms of the economic winds opening up the high-rise development pipeline, we're not quite out of the woods just yet. However, if we get even 8th and Hope, 9th and Olive, and Angelena (or Angelina, or el Angelinarino, if you're not into the whole brevity thing) under construction by the end of the year, we'll have a pretty healthy level of construction going on that could support another similar wave of developments in the 6-12 months following their completion (I'm looking at you, Apex/Concerto Tower #2!!!)

Angelotto: 40 stories
Angelina: 30 stories
Angelini: 20 storees
Angel-oh,no: 5 stories