LOS ANGELES | Downtown Project Rundown 6.0 - Page 771

scania · #**15401** Posted **Jun 27, 2024, 11:25 AM**

Quote:

Originally Posted by Zapatan

^ 592 feet 50 floors I think is the last we heard.

Perhaps that's subject to change though.

I think that height was for a tower in South Park area of DTLA.

homebucket · #**15402** Posted **Jun 27, 2024, 3:01 PM**

Quote:

Originally Posted by craigs

Does anyone know how tall 754 S. Hope Street would be?

Quote:

Designed by Gensler, the approximately 592-foot-tall tower would feature cascading terrace decks stepping back from Hope Street, each of which would be used as an amenity deck for residents. While parking would sit above grade facing Hope Street, residences would line the full Grand Avenue side of the building. Proposed finishes include glass, concrete, aluminum, and stone.

https://la.urbanize.city/post/propos...r-step-forward

Zapatan · #**15403** Posted **Jun 27, 2024, 3:47 PM**

Called it. That's about 180 meters.

Seems LA's next boom may be coming. Fingers crossed.

LA21st · #**15404** Posted **Jun 27, 2024, 4:01 PM**

Quote:

Originally Posted by Zapatan

Called it. That's about 180 meters.

Seems LA's next boom may be coming. Fingers crossed.

Theres def going to be a change in LA when the D line to Westwood is complete. Downtown will benefit alot from it, as you can get to west LA in 20-25 minutes.

caligrad · #**15405** Posted **Jun 27, 2024, 6:20 PM**

^^^ Here's hoping the D gets extended to the Arts, which honestly seems like the easiest to build. Seeing how the arts and adjacent is starting to light up with development again, it only makes sense.

badrunner · #**15406** Posted **Jun 27, 2024, 6:36 PM**

Quote:

Originally Posted by LA21st

Theres def going to be a change in LA when the D line to Westwood is complete. Downtown will benefit alot from it, as you can get to west LA in 20-25 minutes.

Going from Skid Row to Rodeo Drive in 20 minutes will make your head spin.

Quote:

Originally Posted by caligrad

^^^ Here's hoping the D gets extended to the Arts, which honestly seems like the easiest to build. Seeing how the arts and adjacent is starting to light up with development again, it only makes sense.

There are plans for a station just south of the 6th st bridge that is in environmental review right now. It will be utilizing existing above ground track, and from what I understand it has a good chance of happening.

https://www.metro.net/projects/arts-dist-6th-station/

citywatch · #**15407** Posted **Jun 27, 2024, 6:41 PM**

Quote:

Cindy Ord/Getty Images; Courtesy Gensler

Developers behind a proposed 50-story apartment building have received the green light to start building in Downtown Los Angeles (and here’s hoping this one stays graffiti-free).

The L.A. City Council earlier this week approved Mitsui Fudosan America’s (MFA) Eighth, Grand & Hope project at 754 South Hope Street, just around the block from the 7th Street/Metro Center station. The tower, on Eighth Street between Hope Street and Grand Avenue, would replace a parking garage currently idling on the site.

If strength of booking of apts in Mitsui's other new apt tower in dt can be determined by this, they may be more confident in moving forward...

https://www.figueroaeight.com/availability

not sure exactly what's going on in dt overall, however, since brookfield's beaudry apt tower across the street after more than a year of leasing has several unleased apts...

https://www.beaudrydtla.com/availability/

Financing is tougher in today's economy, so who does or doesn't break ground over the next 12, 24 months is a big guessing game. Lots of investment $$ have been available for highrise projs in cities like Miami or toronto, but I'm hearing that supply in cities like those may be getting ahead of demand.

Doctorboffin · #**15408** Posted **Jun 27, 2024, 6:56 PM**

I highly doubt Mitsui's tower will break ground anytime soon. With interest rates being as high as they are, coupled with low rents in DTLA, and of course measure ULA syphoning off the already razor thin profit margins these projects have, building downtown just doesn't seem viable in this economy.

Hope I am proven wrong, but for reference, the Crescent Heights tower was approved back in 2021, so was Times Mirror Square, and the Tribune Tower, and there hasn't been a peep from any of them.

LA21st · #**15409** Posted **Jun 27, 2024, 8:36 PM**

Quote:

Originally Posted by Doctorboffin

I highly doubt Mitsui's tower will break ground anytime soon. With interest rates being as high as they are, coupled with low rents in DTLA, and of course measure ULA syphoning off the already razor thin profit margins these projects have, building downtown just doesn't seem viable in this economy.

Hope I am proven wrong, but for reference, the Crescent Heights tower was approved back in 2021, so was Times Mirror Square, and the Tribune Tower, and there hasn't been a peep from any of them.

But this is almost every city. Downtown Chicago isnt seeing their typical amount of construction with the rates.

LAsam · #**15410** Posted **Jun 27, 2024, 8:43 PM**

With regards to Measure ULA, it's irrelevant if Mitsui's intent is to build and hold.

LA21st · #**15411** Posted **Jun 27, 2024, 9:11 PM**

Quote:

Originally Posted by LAsam

With regards to Measure ULA, it's irrelevant if Mitsui's intent is to build and hold.

I was thinking same thing. If a developer already owns the land why does ULA matter?

Radio5 · #**15412** Posted **Jun 28, 2024, 2:37 AM**

Quote:

Originally Posted by LA21st

I was thinking same thing. If a developer already owns the land why does ULA matter?

Most developers sell at a certain point so their investors get back their returns. Or they refinance, but usually means less of an immediate return, but smarter in the long run. Most smaller/family firms hold.

scania · #**15413** Posted **Jun 28, 2024, 6:53 AM**

Quote:

Originally Posted by badrunner

Going from Skid Row to Rodeo Drive in 20 minutes will make your head spin.

The only people who run into Skid Row via the train are typically 95% tourists from overseas. They will come and specifically look for Skid Row. Skid Row is not close to the Metro Stations. To be on a forum where DTLA is largely discussed...some statements are so far from the truth. But maybe it's because some do not live or frequent the area of which they pretend to know so much about...

colemonkee · #**15414** Posted **Jun 28, 2024, 10:33 AM**

It's only a 4-block walk from either of the Pershing Square station portals to Los Angeles Street, which, for all intent and purposes, is the edge of Skid Row. So that's not an unreasonable statement. That being said, it's all but irrelevant to DTLA development.

To bring the conversation back to development, it's good to see companies like Mitsui and Mack Urban positioning themselves to kick their projects off when the financial conditions are a bit more favorable to begin construction. Unlikely that will happen this year for either project, but it's smart to get them through the approvals process now so they can jump at the chance when interest rates start to ease. Would keep an eye out for actual engineering plan review submissions, which would indicate they're more serious. And would be nice to see Onni do the same with Times Mirror Square and the developer of the tower across 2nd Street over the new Regional Connector station. Get some or all of those towers going in 2025, and we could be in a relative boom per Zapatan's comment.

scania · #**15415** Posted **Jun 28, 2024, 12:12 PM**

Quote:

Originally Posted by colemonkee

It's only a 4-block walk from either of the Pershing Square station portals to Los Angeles Street, which, for all intent and purposes, is the edge of Skid Row. So that's not an unreasonable statement. That being said, it's all but irrelevant to DTLA development.

To bring the conversation back to development, it's good to see companies like Mitsui and Mack Urban positioning themselves to kick their projects off when the financial conditions are a bit more favorable to begin construction. Unlikely that will happen this year for either project, but it's smart to get them through the approvals process now so they can jump at the chance when interest rates start to ease. Would keep an eye out for actual engineering plan review submissions, which would indicate they're more serious. And would be nice to see Onni do the same with Times Mirror Square and the developer of the tower across 2nd Street over the new Regional Connector station. Get some or all of those towers going in 2025, and we could be in a relative boom per Zapatan's comment.

Do you think the Times Mirror Square could really come to fruition???

badrunner · #**15416** Posted **Jun 28, 2024, 4:12 PM**

Quote:

Originally Posted by scania

The only people who run into Skid Row via the train are typically 95% tourists from overseas. They will come and specifically look for Skid Row. Skid Row is not close to the Metro Stations. To be on a forum where DTLA is largely discussed...some statements are so far from the truth. But maybe it's because some do not live or frequent the area of which they pretend to know so much about...

Yeah I know, I was just exaggerating and having some fun. It would take... at least 30 minutes to make that trip between two of our most popular tourist attractions!

scania · #**15417** Posted **Jun 28, 2024, 5:00 PM**

Quote:

Originally Posted by badrunner

Yeah I know, I was just exaggerating and having some fun. It would take... at least 30 minutes to make that trip between two of our most popular tourist attractions!

Hahahahahaha

SC_00_05 · #**15418** Posted **Jun 28, 2024, 7:29 PM**

Well, thankfully the Supreme Court knocked down the 9th’s ridiculous homeless ruling, so LA won’t be able to keep using that as an excuse. Let’s hope this means actual improvement, although given the leadership here, don’t have the highest hopes. The tide does seem to be turning (hopefully)

And I think this is definitely development related, as people don’t want to live next to encampments.

https://apnews.com/article/supreme-c...6c10fcedfa6bee

headcheckjj · #**15419** Posted **Jun 28, 2024, 8:04 PM**

Quote:

Originally Posted by SC_00_05

Well, thankfully the Supreme Court knocked down the 9th’s ridiculous homeless ruling, so LA won’t be able to keep using that as an excuse. Let’s hope this means actual improvement, although given the leadership here, don’t have the highest hopes. The tide does seem to be turning (hopefully)

And I think this is definitely development related, as people don’t want to live next to encampments.

https://apnews.com/article/supreme-c...6c10fcedfa6bee

It's ridiculous that the unhoused need to be treated like human beings?

And if people don't want to live in encampments, think about how the people living in the encampments feel!

LAsam · #**15420** Posted **Jun 28, 2024, 8:49 PM**

Quote:

Originally Posted by headcheckjj

It's ridiculous that the unhoused need to be treated like human beings?

And if people don't want to live in encampments, think about how the people living in the encampments feel!

Hopefully, unhoused people not being allowed to live in public spaces and them being treated like human beings are not mutually exclusive.