HomeDiagramsDatabaseMapsForum About
     

Go Back   SkyscraperPage Forum > Global Projects & Construction > City Compilations


Closed Thread

 
Thread Tools Display Modes
     
     
  #15101  
Old Posted Apr 1, 2024, 9:45 PM
craigs's Avatar
craigs craigs is offline
Registered User
 
Join Date: May 2019
Location: Los Angeles
Posts: 10,964
Quote:
Originally Posted by SoCalKid View Post
Agreed with this take on valuations. It's pretty unfortunate where values are downtown. Not to mention 888 S Hope which just sold for $350k/unit recently. It would cost north of $750k/unit to build that today.
Is that latter figure due to inflation generally and construction inflation specifically? I wonder what 888 S. Hope cost to build per unit back in 2018. Also, it appears to be 94% occupied, which is pretty good.
__________________
Chaos upon my enemies, chaos upon my enemies, chaos upon my enemies.
     
     
  #15102  
Old Posted Apr 1, 2024, 10:17 PM
Jun's Avatar
Jun Jun is offline
Registered User
 
Join Date: Dec 2012
Location: Van Nuys
Posts: 318
Good news guys, word on the streets is the aids healthcare foundation is buying oceanwide plaza and turning into housing for the homeless!
     
     
  #15103  
Old Posted Apr 1, 2024, 10:35 PM
LosAngelesSportsFan's Avatar
LosAngelesSportsFan LosAngelesSportsFan is offline
Registered User
 
Join Date: Oct 2004
Location: Los Angeles
Posts: 7,901
Quote:
Originally Posted by Jun View Post
Good news guys, word on the streets is the aids healthcare foundation is buying oceanwide plaza and turning into housing for the homeless!
Haha nearly forgot what todays date was and nearly had a heart attack
     
     
  #15104  
Old Posted Apr 1, 2024, 10:38 PM
scania's Avatar
scania scania is offline
Registered User
 
Join Date: Mar 2004
Location: Los Angeles, CA (DTLA)/Atlanta, Ga. (Midtown)
Posts: 2,497
Quote:
Originally Posted by Jun View Post
Good news guys, word on the streets is the aids healthcare foundation is buying oceanwide plaza and turning into housing for the homeless!
Lol. There’s no way! Homeless directly across the streets from LA Live and the Olympics. #comical
__________________
It's a beautiful day!
     
     
  #15105  
Old Posted Apr 1, 2024, 11:13 PM
LAsam LAsam is offline
Registered User
 
Join Date: Oct 2006
Location: Los Angeles
Posts: 2,949
Quote:
Originally Posted by craigs View Post
Is that latter figure due to inflation generally and construction inflation specifically? I wonder what 888 S. Hope cost to build per unit back in 2018. Also, it appears to be 94% occupied, which is pretty good.
May also be factoring in current high cost of financing for construction loans.
     
     
  #15106  
Old Posted Apr 2, 2024, 7:16 AM
ocman ocman is offline
Registered User
 
Join Date: Dec 2004
Location: Burlingame
Posts: 2,712
Quote:
Originally Posted by headcheckjj View Post
I assume Broad left it an additional sum when he died? Then again, if the endowment is managed by a wealth manager, they probably made significant gains in the stock market over the last few years.
Or his wife decided to donate to pad the endowment. Hard to believe a wealth manager could quadruple an endowment without taking really risky bets.
     
     
  #15107  
Old Posted Apr 2, 2024, 6:10 PM
SoCalKid SoCalKid is offline
Registered User
 
Join Date: Jul 2012
Posts: 615
Quote:
Originally Posted by craigs View Post
Is that latter figure due to inflation generally and construction inflation specifically? I wonder what 888 S. Hope cost to build per unit back in 2018. Also, it appears to be 94% occupied, which is pretty good.
It probably cost around $500k/unit back in 2018. So it definitely sold for far less than it cost to build for CIM (the developer). Yes the increase in costs is largely construction inflation.
     
     
  #15108  
Old Posted Apr 2, 2024, 6:11 PM
SoCalKid SoCalKid is offline
Registered User
 
Join Date: Jul 2012
Posts: 615
Quote:
Originally Posted by LAsam View Post
May also be factoring in current high cost of financing for construction loans.
No, my figures don't take into account today's super high interest rates.
     
     
  #15109  
Old Posted Apr 2, 2024, 6:14 PM
SoCalKid SoCalKid is offline
Registered User
 
Join Date: Jul 2012
Posts: 615
Quote:
Originally Posted by ocman View Post
Or his wife decided to donate to pad the endowment. Hard to believe a wealth manager could quadruple an endowment without taking really risky bets.
Agreed, there had to have been significant additions to the endowment after he died. I could see why - the museum is crazy popular and is an awesome legacy to leave behind. It's a great anchor for the Grand Avenue Project which was largely Broad's baby.
     
     
  #15110  
Old Posted Apr 5, 2024, 5:42 PM
Easy's Avatar
Easy Easy is offline
Registered User
 
Join Date: Dec 2004
Location: Los Angeles, CA
Posts: 1,598
The BLOC has made progress with last week's submittal of a Draft EIR. The project appears to be unchanged with the number of residential units remaining at 466. The estimated height is 710 feet. Construction would start in 2027 and be completed in 2031.

https://x.com/lametrojourney/status/1776302329903611907?s=61&t=ArTBTOcV1qvz6hcNv-S4Cg
     
     
  #15111  
Old Posted Apr 5, 2024, 9:09 PM
craigs's Avatar
craigs craigs is offline
Registered User
 
Join Date: May 2019
Location: Los Angeles
Posts: 10,964
Quote:
Originally Posted by Easy View Post
The BLOC has made progress with last week's submittal of a Draft EIR. The project appears to be unchanged with the number of residential units remaining at 466. The estimated height is 710 feet. Construction would start in 2027 and be completed in 2031.

https://x.com/lametrojourney/status/1776302329903611907?s=61&t=ArTBTOcV1qvz6hcNv-S4Cg
Great news! EIRs are expensive and time-consuming. Thus, I suspect the developers are serious about making this happen.
__________________
Chaos upon my enemies, chaos upon my enemies, chaos upon my enemies.
     
     
  #15112  
Old Posted Apr 6, 2024, 2:57 AM
craigs's Avatar
craigs craigs is offline
Registered User
 
Join Date: May 2019
Location: Los Angeles
Posts: 10,964
From Urbanize LA's Facebook page:

At the intersection of Olympic Boulevard and Hill Street, the concrete skeleton of Onni Group's latest apartment tower in Downtown Los Angeles has passed the halfway mark on its ascent.

The tower, now rising from a property which has the dual addresses of 230 W. Olympic Boulevard and 1000 S. Hill Street, will eventually stand 54 stories and feature 685 apartments above ground-floor commercial space and podium parking for more than 1,000 vehicles.

IBI Group is serving as the architect of record for the project, building off of an entitlement design from Chris Dikeakos Architects. Plans show a building rising 590 feet in height - still good for one of the city's tallest residential buildings, but shy of the 60-story, approximately 760-foot-tall building originally pitched by Onni.

. . . .





__________________
Chaos upon my enemies, chaos upon my enemies, chaos upon my enemies.
     
     
  #15113  
Old Posted Apr 6, 2024, 3:12 AM
citywatch citywatch is offline
Registered User
 
Join Date: Feb 2002
Posts: 6,727
Quote:

Left to right: Sel Kardan, Carol Colburn Grigor, Andrew Millstein, Jerry Kohl, Terri Kohl, Maeesha Merchant, Toby Mayman, Merle Mullin, and
Terry Greene at Colburn Center's groundbreaking ceremony. Photo by Loreen Sarkis.


Today the Colburn School broke ground on the Colburn Center, a $335 million 100,000-square-foot expansion designed by Frank Gehry. The new building will be located in downtown Los Angeles, adjacent to Colburn’s Grand Avenue campus, and will dramatically increase the school’s training and performance facilities.

The completed project will join Gehry’s Walt Disney Concert Hall and The Grand complex to create the largest concentration in the world of buildings designed by that architect. The adjacent area also includes LA cultural institutions such as The Music Center, the Museum of Contemporary Art, and The Broad.

"The Colburn Center will be a game-changer, stepping up everything we do for the school’s own community, for our peer organizations that make the LA artistic ecosystem so vibrant, and for the public that we look forward to welcoming," said Sel Kardan, President and CEO of the Colburn School. "At Colburn, making performances accessible to LA audiences is as much a part of our core mission as making first-rate music and dance education available to everyone. These are the same values we see in the wonderful design by Frank Gehry: artistic excellence at the highest level, combined with a deep love for the dynamism and diversity that animate life in a great city."

Kardan read the following statement on behalf of Gehry: "This is a long time coming, and I am so grateful for everyone who helped make it possible. For me, this building is very special. It adds significant opportunity for growth in music, music education, and collaboration inside of Colburn and with the other arts institutions in LA. I really believe it will unlock untold riches in the cultural community here in LA and I am honored to be a part of it."

Besides Kardan and Solis, the groundbreaking event also brought together Deputy Mayor Jacqueline Hamilton, Chairman of the Colburn School’s Board of Trustees Andrew Millstein, and lead donors Carol Colburn Grigor, Life Chairman Emeritus of the Board of Trustees who spearheaded the fundraising campaign, and Jerry and Terri Kohl, whose leadership gift will fund a 1,000-seat concert hall in their name.

At the groundbreaking, Kardan announced that the Colburn School’s "Building Our Future" campaign reached $315 Million of its $400 Million Goal.

In attendance were some of the many generous philanthropists who have supported that campaign, including Tom Beckmen, Henry Choi, David Colburn, Jennifer Diener, Richard Fiock, Terry Greene, Stephanie and Greg Guyette, Ann Moore, Merle Mullin, Diane Naegele, and Alyce Williamson, all of whom have made leadership commitments to the project. Also in attendance were LA County Supervisor Kathryn Barger; Scott Altman, President and CEO of the Los Angeles Master Chorale; Ben Cadwallader, Executive Director of Los Angeles Chamber Orchestra; James Conlon, Music Director of LA Opera and Founder and Director of the Ziering-Conlon Initiative for Recovered Voices at the Colburn School; Snehal Desai, Artistic Director of Center Theatre Group; Christopher Koelsch, President and CEO of LA Opera; Jaime Martín, Music Director of Los Angeles Chamber Orchestra; Rachel S. Moore, President and CEO of The Music Center; Meghan Pressman, Managing Director/CEO of Center Theatre Group; Thor Steingraber, Executive and Artistic Director of The Soraya.

Founded in 1950 as a small preparatory school for the University of Southern California, what is now the Colburn School functioned as a community school for its first 30 years. In 1980, Richard D. Colburn stepped in as its benefactor, helping the school to become an independent, not-for-profit institution.

The school was named after Colburn in the late '80s, after which serious plans started taking shape. In 1998, the school moved to its current location on Grand Avenue, and in 2003 the first official class of 15 students were welcomed to the Colburn Conservatory of Music. The expansion has continued to Colburn's infrastructure, programs and student body, with the addition of a 12-story residence, Colburn dance programs, the Colburn Music Academy, the Negaunee Conducting Program and more.


Performance by the Colburn Conservatory’s Pep Band at Friday's groundbreaking ceremony.
.
     
     
  #15114  
Old Posted Apr 6, 2024, 4:12 AM
Quixote's Avatar
Quixote Quixote is offline
Inveterate Angeleno
 
Join Date: Apr 2006
Location: Los Angeles
Posts: 7,652
Quote:
Originally Posted by craigs View Post
From Urbanize LA's Facebook page:
Shortened, value engineered, and a big podium. Oof.

I'm perfectly fine waiting until the next boom cycle for projects to be realized if it means they don't get half-assed. Skyscrapers have long shelf lives.

That said, after having visited Hong Kong and Tokyo recently, I can say that height and beauty play a very small role in creating vibrancy. It's small-footprint buildings with dense storefronts — something that we just don't construct nowadays — that have the most impact. Explore Taipei on Google Street View to see what I mean. Now THAT is true urbanism of the highest order.
__________________
“To tell a story is inescapably to take a moral stance.”

— Jerome Bruner
     
     
  #15115  
Old Posted Apr 6, 2024, 2:11 PM
citywatch citywatch is offline
Registered User
 
Join Date: Feb 2002
Posts: 6,727
Ppl will think the southern part of dtla isn't bothering to take down its xmas lights...

Video Link
     
     
  #15116  
Old Posted Apr 6, 2024, 4:58 PM
scania's Avatar
scania scania is offline
Registered User
 
Join Date: Mar 2004
Location: Los Angeles, CA (DTLA)/Atlanta, Ga. (Midtown)
Posts: 2,497
Quote:
Originally Posted by citywatch View Post
.
I intended to mention that I was over in that area and was surprised how much work had been done. I didn't realize work had been started.
__________________
It's a beautiful day!
     
     
  #15117  
Old Posted Apr 6, 2024, 5:01 PM
scania's Avatar
scania scania is offline
Registered User
 
Join Date: Mar 2004
Location: Los Angeles, CA (DTLA)/Atlanta, Ga. (Midtown)
Posts: 2,497
Quote:
Originally Posted by craigs View Post
From Urbanize LA's Facebook page:

At the intersection of Olympic Boulevard and Hill Street, the concrete skeleton of Onni Group's latest apartment tower in Downtown Los Angeles has passed the halfway mark on its ascent.

The tower, now rising from a property which has the dual addresses of 230 W. Olympic Boulevard and 1000 S. Hill Street, will eventually stand 54 stories and feature 685 apartments above ground-floor commercial space and podium parking for more than 1,000 vehicles.

IBI Group is serving as the architect of record for the project, building off of an entitlement design from Chris Dikeakos Architects. Plans show a building rising 590 feet in height - still good for one of the city's tallest residential buildings, but shy of the 60-story, approximately 760-foot-tall building originally pitched by Onni.

. . . .
This tower is actually going to look nice in person. Especially on ground level. I still think Figueroa Eight is simply on another level. But this will be a welcomed addition.
__________________
It's a beautiful day!

Last edited by scania; Apr 6, 2024 at 10:57 PM.
     
     
  #15118  
Old Posted Apr 6, 2024, 5:22 PM
citywatch citywatch is offline
Registered User
 
Join Date: Feb 2002
Posts: 6,727
^ this is an old vid on the proj, but I recall all the yrs I went by the NE corner of Fig & 8th St & wondered when the parking lot that used to be there would be finally removed....

Video Link


I'm still trying to figure out what this page exactly means...

https://www.figueroaeight.com/availability

I've checked it out on occasion for the past few months & at first thought it was because a lot of Fig Eight's units were still U/C. but if the owner, mitsui fudosan, actually has managed to find enough tenants to rent most of the apts this early, that means they may be encouraged to start work sooner or faster on their other apt tower...


commercial observer
     
     
  #15119  
Old Posted Apr 6, 2024, 5:23 PM
Zapatan Zapatan is offline
DENNAB
 
Join Date: Aug 2009
Location: NY - Cali
Posts: 6,837
Quote:
Originally Posted by Easy View Post
The BLOC has made progress with last week's submittal of a Draft EIR. The project appears to be unchanged with the number of residential units remaining at 466. The estimated height is 710 feet. Construction would start in 2027 and be completed in 2031.

https://x.com/lametrojourney/status/1776302329903611907?s=61&t=ArTBTOcV1qvz6hcNv-S4Cg

The time frame is kind of a bummer but still exciting nonetheless.

Is Angels Landing still set to happen or is that just a pipe dream at this point?



A handful of 6-800 footers would do wonders for downtown.
     
     
  #15120  
Old Posted Apr 6, 2024, 6:35 PM
craigs's Avatar
craigs craigs is offline
Registered User
 
Join Date: May 2019
Location: Los Angeles
Posts: 10,964
Quote:
Originally Posted by Quixote View Post
Shortened, value engineered, and a big podium. Oof.
Are you just learning this old news?

Quote:
I'm perfectly fine waiting until the next boom cycle for projects to be realized if it means they don't get half-assed. Skyscrapers have long shelf lives.
You're letting the perfect be the enemy of the good. And Olympic + Hill is good--it will provide hundreds of new homes, not in a greenfield subdivision but in a skyscraper in a walkable and transit-friendly location that really needs the activation.
__________________
Chaos upon my enemies, chaos upon my enemies, chaos upon my enemies.
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Closed Thread

Go Back   SkyscraperPage Forum > Global Projects & Construction > City Compilations
Forum Jump



Forum Jump


All times are GMT. The time now is 5:43 PM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2026, vBulletin Solutions, Inc.