LOS ANGELES | Downtown Project Rundown 6.0

[craigs]

Originally Posted by caligrad

https://www.msn.com/en-us/money/other/we...n-pasadena/ar-AA1sia51?ocid=BingNewsVerp

Wedbush just announced they're leaving downtown. For Pasadena. Cutting their office space from 100k SF. to 20k SF. I wonder who will take over the naming rights for the building. Interesting enough, a lot of companies are trying to end remote work while they are blaming remote work for the downsizing.

The LA Times article on Wedbush's move notes that 70% of their new office space will be "hotel" workstations that any employee can use, and only 30% will be dedicated offices. They picked Pasadena in part because it has "recovered more fully from the pandemic than downtown Los Angeles has. That was a part of the decision-making.” I had a couple of midweek overnighters in Pasadena this summer, and I agree--but then, that makes sense because Pasadena isn't as office-oriented as downtown LA is.

[HusBy]

I'm reminded that Wedbush put up a stink when Wilshire Grand was getting approvals. Smell ya l8a downtown haters.

[craigs]

Originally Posted by HusBy

I'm reminded that Wedbush put up a stink when Wilshire Grand was getting approvals. Smell ya l8a downtown haters.

Yeah, we're supposed to give a fuck but they were going to be downsizing 80% no matter what. Wedbush is no longer a major player in terms of office space--whether downtown or in Pasadena.

[caligrad]

They also tried to blame the "downtown environment " as one of their reasons for moving, as if their little sliver of a block is somehow struggling.

https://la.urbanize.city/post/2-billion-fourth-central-development-takes-haircut




In other news, the new scale of this doesn't bother me. Feels denser and more natural. Will fit well with the area. Sucks that the hotel component is gone. Here's hoping it starts construction soon. I saw one of those soil testing machines onsite last week but I'm sure that's part of the EIR. There needs to be more of this filling in the gap between the river and downtown.

[craigs]

Originally Posted by caligrad

In other news, the new scale of this doesn't bother me. Feels denser and more natural. Will fit well with the area. Sucks that the hotel component is gone. Here's hoping it starts construction soon. I saw one of those soil testing machines onsite last week but I'm sure that's part of the Enironmental review. There needs to be more of this filling in the gap between the river and Downtown.

The news is good for 4th & Central. First, the revised plan will have additional housing units. It will now have 1,589 units, the vast majority of which will be apartments. Second, the state certified the project as an Environmental Leadership Development Project. Thus, any CEQA challenge must be resolved within 270 days.

As for aesthetics, I liked the signature tower at 44 floors--and I still like it at 30 floors. The whole project is going to be amazing and make a strong, positive impact on the Arts District.

[DJM19]

Project is still great, and I wish this was the scale of development all over the place. This is what the Little Tokyo station lot and the neighboring former station lot should be developed like.

[Zapatan]

Better than nothing but still disappointing.

I hope some of the downtown projects move forward soon.

[caligrad]

I wouldn't say it's disappointing. The tallest tower losing 10 floors, but we got another tower added to the project where the hotel was supposed to go, and it looks to be between 25-28 floors itself (The white tower center left that wasn't in the original renderings). Density overall is always better than height.

[scania]

Originally Posted by caligrad

I wouldn't say it's disappointing. The tallest tower losing 10 floors, but we got another tower added to the project where the hotel was supposed to go, and it looks to be between 25-28 floors itself (The white tower center left that wasn't in the original renderings). Density overall is always better than height.

I agree...I'm not sure why someone would think it's disappointing. It's in the Art District. The Arts District is growing and taller towers may come in the future. 40 stories versus 30 stories is a difference...but let's not pretend we are talking about 600 footer going to a 350 footer.

[38 Geary]

I agree that the main signature tower doesn't look quite as nice with the height reduction, massing wise. But to compensate, I think with the addition of another tower, the street wall actually improves, with a more continuous looking unbroken wall of density. It's not 100% wall to wall density, but at least it comes close. At the street level, it'll feel a lot more impressive. Just imagine yourself standing on the corner of 5th and Central vs the previous rendition where there's a low midrise in between resulting in a noticeable gap.

[SoCalKid]

Originally Posted by caligrad

https://www.msn.com/en-us/money/other/we...n-pasadena/ar-AA1sia51?ocid=BingNewsVerp

Wedbush just announced they're leaving downtown. For Pasadena. Cutting their office space from 100k SF. to 20k SF. I wonder who will take over the naming rights for the building. Interesting enough, a lot of companies are trying to end remote work while they are blaming remote work for the downsizing.

This is why analysts think office occupancy will likely get worse before it gets better. Many companies are bringing people back into the office, but there are lots of companies like Wedbush that have been hybrid but have been occupying larger spaces intended for fully in-office work because they're on pre-pandemic leases. So the increased demand from companies that are growing in-person headcount is offset by those still waiting to shed underutilized but still leased office.

To your last sentence, I haven't heard of any companies simultaneously trying to end remote work while also blaming remote work for downsizing. Generally, I've seen one or the other.

[caligrad]

^^^ I actually wrote that rather poorly. What i meant was a lot of companies were trying to end remote work, but Wedbush is mostly blaming their downsizing on remote work.

Originally Posted by homebucket

I agree that the main signature tower doesn't look quite as nice with the height reduction, massing wise. But to compensate, I think with the addition of another tower, the street wall actually improves, with a more continuous looking unbroken wall of density. It's not 100% wall to wall density, but at least it comes close. At the street level, it'll feel a lot more impressive. Just imagine yourself standing on the corner of 5th and Central vs the previous rendition where there's a low midrise in between resulting in a noticeable gap.

That was my point as well. The Original plans, even though I'm sure we wouldn't have mind that version, hard to explain it but it just felt less dense and less organic. This iteration feels denser, more realistic, even with the addition of another tower. It feels as if this one pencils out better.

[Zapatan]

Originally Posted by scania

I agree...I'm not sure why someone would think it's disappointing. It's in the Art District. The Arts District is growing and taller towers may come in the future. 40 stories versus 30 stories is a difference...but let's not pretend we are talking about 600 footer going to a 350 footer.

For the neighborhood it's still good for sure, but imagine a 500 footer there (44 stories probably would have been), especially with that design.

[craigs]

I agree with those who prefer the revised plan's massing. It's more coherent in terms of height and density.

[BrandonJXN]

Originally Posted by craigs

I agree with those who prefer the revised plan's massing. It's more coherent in terms of height and density.

I agree with the revised plan as well. Quite honestly, given the size of the lots in DTLA, projects on this scale should be a benchmark.

[colemonkee]

It's a bummer about the heigh loss, but agree with most forumers here that the new massing makes up for that loss in height and makes the development feel more cohesive overall. It also feels - and is - more dense.

I do think that taking the hotel out of the programming is a bit of a miss that will be felt down the line. While there are plenty of opportunities in surrounding properties to add hotel use later, this development is a mini-city in itself, and having a hotel here would allow for transient usage that could serve this new district, Little Tokyo and the Arts District, and be a great bridge between those two areas.

[ChelseaFC]

I'm really not sure how well a hotel would do in that area at this point. Is it walking distance to any major companies or attractions? I'm trying to imagine what might motivate someone from out of town who doesn't have a car to choose that area as opposed to the area next to Staples and the convention center.

[scania]

Originally Posted by colemonkee

It's a bummer about the heigh loss, but agree with most forumers here that the new massing makes up for that loss in height and makes the development feel more cohesive overall. It also feels - and is - more dense.

I do think that taking the hotel out of the programming is a bit of a miss that will be felt down the line. While there are plenty of opportunities in surrounding properties to add hotel use later, this development is a mini-city in itself, and having a hotel here would allow for transient usage that could serve this new district, Little Tokyo and the Arts District, and be a great bridge between those two areas.

Understandable…but look at it this way…in the future, if hotels are needed, it will be another tower/towers that will be built.

Originally Posted by ChelseaFC

I'm really not sure how well a hotel would do in that area at this point. Is it walking distance to any major companies or attractions? I'm trying to imagine what might motivate someone from out of town who doesn't have a car to choose that area as opposed to the area next to Staples and the convention center.

Yes and no…there are plenty of people who travel to LA and specifically try to stay in areas that they feel have more of the local vibe and not typical tourist attractions. Hopefully the Arts District can continue to grow and Skid Row will become smaller and smaller, till eventually it’s no longer. This might take two decades though. Lol

[SoCalKid]

Agreed that the new massing is great. To me, it looks like you carved a block of Manhattan and dropped in the Arts District, and I mean that in the best possible way. This new massing will be cheaper to build (taller structures are more expensive), and therefore is more likely to get built.

[edale]

Originally Posted by ChelseaFC

I'm really not sure how well a hotel would do in that area at this point. Is it walking distance to any major companies or attractions? I'm trying to imagine what might motivate someone from out of town who doesn't have a car to choose that area as opposed to the area next to Staples and the convention center.

I'm with you. For that matter, I don't know who would want to live in this area, either. Different strokes for different folks I suppose, but I think this area is incredibly bleak and inhospitable. It lacks the charm and historic buildings of the heart of the Arts District, you're maybe a block or 2 from Skid Row, there's tons of truck traffic, wide streets, lots of fences with barbed wire, surface parking, no green space anywhere to be found around...it's about the last place in LA I'd want to live.

https://www.google.com/maps/@34.0406368,..._ep=EgoyMDI0MTAxNS4wIKXMDSoASAFQAw%3D%3D