Not sure if press releases like this one necessarily means the devlprs of parkfifth are more serious than most, & most likely to really break ground when they say they will. Like to think so, but trying to figure out how legit & committed they really are is similar to reading tea leaves.
I remember seeing the quote of an industry expert who claimed the Glass tower proj across from the Elleven bldg was one of the most solid among a list of proposed bldgs in the hood. The devlpr himself sounded like it was a certainty he'd start work on his bldg in April. Well, we're fast moving through June, &, assuming no one who actually lives in the hood is just being tight lipped about it, there's been no sign of groundbreaking.
Next up will be the previously announced start of work on the Medallion in July. I sure don't wanna see that already much delayed proj end up even further delayed.
It's interesting that the smaller, less publicized projs, all involving wood framed apt bldgs around Crown hill, are the ones starting construction under the wire, like the 2nd phase of the Piero apt bldg.
June 14, 2007
Art and Lofty Architecture Await Residents at Park Fifth with Innovative Program That Gives Every Condo Owner a Five-Year Membership to The Museum of Contemporary Art
Park Fifth Developers Also Support Acclaimed Art Museum with Sponsorship of Popular NIGHT VISION: MOCA After Dark Program
From l-r: MOCA Director Jeremy Strick, Andrea Van
de Kamp, and Park Fifth's David Houk and Richard
Marr. (Photo: Business Wire)
LOS ANGELES--(BUSINESS WIRE)--Through an innovative sponsorship program, the developers of Los Angeles’ tallest condominium will support The Museum of Contemporary Art Los Angeles (MOCA) by purchasing a five-year membership to the acclaimed museum for every homeowner. Envisioned as a unique way to team with MOCA to build its member base and promote the connection between new residents with the nearby museum, Park Fifth announced the program at a reception held at the MOCA on June 5.
Park Fifth’s support for MOCA also includes sponsorship of NIGHT VISION: MOCA After Dark, the museum’s summer-long late-night series that offers an exciting program of artmaking, screenings, live music, spoken word and gallery tours on Saturday nights through August 11. Now in its third year, NIGHT VISION has become a highlight of the city’s summer calendar, attracting thousands of visitors to the museum for its unique brand of art-filled nightlife.
Speaking at the reception, Jeremy Strick, director of MOCA, praised the Park Fifth developers for their foresight in creating a membership program that will have long-term benefits for the museum. “A wonderful relationship is forming between MOCA and Park Fifth,” said Strick. “We are also exploring other exciting ways we can work together and look forward to being able to announce those soon.”
Much in the same way that MOCA has become a culturally inspiring part of Downtown Los Angeles, Park Fifth intends to weave exquisite taste and a luxurious artistic atmosphere throughout its entire development while giving a spacious, yet Californian feel to it.
“Downtown has become a desirable residential address because of cultural gems such as MOCA that enrich the experience of living in our urban center,” said Rich Marr, project manager of Park Fifth. “We believe that homeowners who are attracted to the bold, modern architecture and design aesthetic of Park Fifth will also appreciate the benefits of MOCA membership.”
Designed by the internationally renowned architecture firm Kohn Pedersen Fox, Park Fifth will feature lofty 76-story and 43-story towers, making it the tallest residential building west of Chicago. Park Fifth will elevate the Downtown horizon and introduce a new, exciting style of opulent “infinity living.” Luxuries at Park Fifth will include a five-star hotel, two high-rise towers with generously sized balconies or terraces for each residence, a spa, fitness center, rooftop pools and entertaining areas, screening rooms, dog walk, concierge service and much more. Park Fifth’s 732 residential units will transform the Los Angeles skyline and command panoramic views of the city, ocean, and mountains.
Park Fifth’s sales center will open this summer in the Gas Company Tower located at 555 West 5th Street in Downtown LA. Designed as a “living center,” it will feature two full scale models of actual units and interactive displays to preview the spectacular day and night views.
About Park Fifth
The tallest luxury condominium high-rise ever to be developed for Downtown Los Angeles, the estimated $1 billion Park Fifth development will rise across from historic Pershing Square at 427 West Fifth Street in the symbolic center of Downtown Los Angeles. Park Fifth will include 732 living units of varying sizes, attuned to the infinitely varied styles of California living, and a five-star hotel, to be operated by one of the leading names in luxury hospitality. Groundbreaking is planned for early 2008 with occupancy slated for 2010. Capital partners for the project include Africa Israel, a publicly traded international development company based in Israel with its U.S. headquarters in New York, and Brentwood-based Namco Capital Group along with development partner Los Angeles-based Houk Development Company. For more information, visit
www.parkfifth.com.
About MOCA
Founded in 1979, MOCA is the only museum in Los Angeles devoted exclusively to contemporary art. It is committed to the collection, presentation, and interpretation of work produced since 1940 in all media, and to preserving that work for future generations. In a remarkably short time, MOCA has developed one of the nation's most renowned permanent collections. Now numbering over 5,000 works and steadily growing, this invaluable cultural resource provides extensive opportunities for education and enjoyment to thousands of national and international visitors. Today the museum is housed in three unique facilities: MOCA Grand Avenue, The Geffen Contemporary at MOCA, and MOCA Pacific Design Center. For more information, visit moca.org.
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Does anyone have a list or info of adaptive reuse projects slated for Spring St./
Broadway?
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