LOS ANGELES | Downtown Project Rundown 6.0

[caligrad]

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.

I assumed since its an election year, some developers are looking at the prospect of who might win or what the feds are saying on the interest rates.

[headcheckjj]

Originally Posted by LAsam

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

Lol, you mean you hope treating unhoused people like human blight and criminalizing them for having no other choice BUT to live on the street can live in harmony with treating them like human beings?

[LosAngelesSportsFan]

Originally Posted by headcheckjj

Lol, you mean you hope treating unhoused people like human blight and criminalizing them for having no other choice BUT to live on the street can live in harmony with treating them like human beings?

You OBVIOUSLY have never been around the "homeless" in LA. 90% are either on drugs, mentally ill or criminals (or a combo)

Regardless, this has nothing to do with development

[dktshb]

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

Apparently under Bass there has been improvement for the first time since 2018 with. 10% drop in street homelessness and a 38% decrease in makeshift shelters.

https://la.urbanize.city/post/weekly...s-june-29-2024

[craigs]

This pic from LA Reddit shows Olympic + Hill taking its place on the skyline:

[headcheckjj]

Originally Posted by LosAngelesSportsFan

You OBVIOUSLY have never been around the "homeless" in LA. 90% are either on drugs, mentally ill or criminals (or a combo)

Regardless, this has nothing to do with development

Amazing how when the rich are mentally ill, they get all the help they need. When the rich steal, they get a slap on the wrist and keep their C-Suite jobs. And when every trader on the Goldman Sachs floor has a coke problem, it's cool, it's a lifestyle.

But when people are living with the trauma of being unhoused and turn to drugs or succumb to the mental burden of it, they're a scourge to be dealt with like rats. We say they deserve whatever's coming to them.

[citywatch]

Originally Posted by SC_00_05

the Supreme Court knocked down the 9th’s ridiculous homeless ruling

fwiw, the mayor of san francisco likes the decision, the mayor of LA does not. take from that what you will.

this proj was discussed over 2 yrs ago...the person who owns this bldg has a good track record, so if he were allowed to carry out his plans they possibly wouldn't cause the property to become a high density slum. But as with dtla in general, keeping things in working order isn't easy.

Yrs of improving dtla can get lost way too easily if the parts of the puzzle end up missing. Meanwhile, the 6th st bridge opened 2 years ago has had its floodlights stop working because of its copper wiring always being stolen.


• Video Link

[citywatch]

• Video Link

[Quixote]

Not that this will break ground anytime soon, but it looks like Solomon Cordwell Buenz has a new design for 222 West 2nd Street (sitting directly atop the Historic Broadway station).


Solomon Cordwell Buenz


Solomon Cordwell Buenz

[scania]

That would be a very welcomed addition.

[Radio5]

[QUOTE=Quixote;10236394]Not that this will break ground anytime soon, but it looks like Solomon Cordwell Buenz has a new design for 222 West 2nd Street (sitting directly atop the Historic Broadway station).

Not as good as the original, but at least it means the project is still alive. Good find

[Zapatan]

Why wouldn't it break ground soon? Has it been approved yet?

Looks 5 or 600 feet and I like the design.

[Radio5]

Originally Posted by Zapatan

Why wouldn't it break ground soon? Has it been approved yet?

Looks 5 or 600 feet and I like the design.

City approved, but financing costs are too high at the moment. Most developers are waiting till rates drop.

[Zapatan]

Originally Posted by Radio5

City approved, but financing costs are too high at the moment. Most developers are waiting till rates drop.

I figured but other projects are rising / may rise soon.

[LosAngelesSportsFan]

Looks fantastic.

[Zapatan]

Found it: 570 feet / 56 floors and 700 apartments

https://scb.com/project/222-west-2nd-street/

[craigs]

Wow, this would be an amazing project and a fine replacement for the newer additions to the historic LA Times building:


source

[Mojeda101]

Ugh, I wish that LA Times project had started. That whole area needs it.

[scania]

Originally Posted by craigs

Wow, this would be an amazing project and a fine replacement for the newer additions to the historic LA Times building:


source

That would also extend the skyline from certain angels!

[SoCalKid]

Originally Posted by Zapatan

Why wouldn't it break ground soon? Has it been approved yet?

Looks 5 or 600 feet and I like the design.

Because it would be worth less at completion than the cost to build it, so no one is going to finance it.

This project would cost ~$1 million/unit to build, but a relatively new tower (888 Hope) recently sold for $350k/unit. The math just doesn't work for high rises downtown right now. And the City Council is making that worse by increasing the affordability requirements, which decreases the value of new apartments.