LOS ANGELES | Downtown Project Rundown 3.0

[k3d]

Originally Posted by Westsidelife

Well, I post in the individual threads for Concerto, 717 Ninth, Ritz-Carlton/JW Marriott, and LAPD Headquarters to activate discussions.

The way I look at it, this thread should be reserved for developments like the Medallion, San Pedro Apartments, and adaptive reuse projects.

Are you serious? This thread is called Downtown Project Rundown 3.0 and the first page has every project listed. Does anyone else here agree this thread should be reserved for the ones mentioned above. What qualifies those projects over other projects?

It seems to me this thread is for any and all Downtown developments. Correct me if I'm wrong.

[KevinFromTexas]

I would say it's fine to post photo updates in this thread for downtown projects. You can also post updates saying what floor they're on, if they've started and such. You can even talk about other projects such as arenas or stadiums in downtown. And you can talk about issues pertaining to downtown such as retail and beautification efforts. As long as it doesn't trail off topic or start arguments, then it's fine.

[JDRCRASH]

Originally Posted by KevinFromTexas

I would say it's fine to post photo updates in this thread for downtown projects. You can also post updates saying what floor they're on, if they've started and such. You can even talk about other projects such as arenas or stadiums in downtown. And you can talk about issues pertaining to downtown such as retail and beautification efforts. As long as it doesn't trail off topic or start arguments, then it's fine.

Thanks for clarifying for me.

[Quixote]

Originally Posted by k3d

Are you serious? This thread is called Downtown Project Rundown 3.0 and the first page has every project listed. Does anyone else here agree this thread should be reserved for the ones mentioned above. What qualifies those projects over other projects?

It seems to me this thread is for any and all Downtown developments. Correct me if I'm wrong.

The Chicago forumers reserve their development thread for general discussions and developments and use the individual threads for skyscraper projects.

[JDRCRASH]

It still doesn't verify why making a seperate thread would be justified.

New York forumers do this as well, but only because there are so many projects.

[JDRCRASH]

Emmys' Nokia Move Made Official

By Eric Richardson

Published: Monday, March 10, 2008, at 08:30PM
The 7,100 seat Nokia Theatre opened in October, 2007. Variety is reporting that the Academy of TV Arts & Sciences has officially signed on to move its Emmy Awards to the Nokia Theatre. Award shows were a big target for AEG in the theatre's design, and the show's move was widely expected. The awards had previously been handed out down Figueroa in the Shrine Auditorium. Downtown gets a very positive pitch.

ATAS plans to move its post-show Governors Ball to the Los Angeles Convention Center next door and has started conversations with studios and networks about locating their after-Emmy parties downtown (much as CBS Paramount did last year with its "Entertainment Tonight" shindig at Walt Disney Concert Hall).

It's that ability to "dump and load once," said AEG prexy-chief exec Tim Leiweke, that is one of AEG's big selling points.

"We're very aware of the issues of getting people in and around Los Angeles," he said. "Downtown's easy, and it's the highest of priorities to convince the entertainment industry to get people to come and leave once. It's an ability to have a bigger event and, from a cost standpoint, gives people the opportunity to host these parties at a more reasonable cost."

The move is a great highlight of the energy that a venue like the Nokia can create for other spaces Downtown.

www.blogdowntown.com

[DowntownCharlieBrown]

Originally Posted by k3d

Are you serious? This thread is called Downtown Project Rundown 3.0 and the first page has every project listed. Does anyone else here agree this thread should be reserved for the ones mentioned above. What qualifies those projects over other projects?

It seems to me this thread is for any and all Downtown developments. Correct me if I'm wrong.

Here is my two cents.

I enjoy reading through the downtown thread to get the whole picture. I want to see all the downtown projects, downtown development issues, and relevant downtown happenings discussed here. That sister site of this one has all the LA projects broken out into individual threads and it is very laborious clicking through each thread to get the whole story.

With that said, I really like that there are individual project threads. I often go through others cites' project threads from start to finish to get the history of the project. And I do believe those threads receive more out-of-town comments, which is a good thing. However, the project needs to be some what exciting to warrant an individual thread, otherwise it slips to the back pages and becomes forgotten.

I vote we keep both. Of course it is always up to the person posting the pics as to whether they want to post in both threads, since they are the ones taking their time to do so. And any picture posts are always much appreciated.

[San Marino Guy]

Hey everyone,
Well, it looks like I'm the new guy here. That sucks. So yeah. Whatever happened to that St. Vibiana Tower Project?

[milquetoast]

Much larger audience when the American Idol Finale' airs there in May TV Guide

[StethJeff]

Originally Posted by JDRCRASH

Emmys' Nokia Move Made Official

By Eric Richardson

Published: Monday, March 10, 2008, at 08:30PM
The 7,100 seat Nokia Theatre opened in October, 2007. Variety is reporting that the Academy of TV Arts & Sciences has officially signed on to move its Emmy Awards to the Nokia Theatre. Award shows were a big target for AEG in the theatre's design, and the show's move was widely expected. The awards had previously been handed out down Figueroa in the Shrine Auditorium. Downtown gets a very positive pitch.

ATAS plans to move its post-show Governors Ball to the Los Angeles Convention Center next door and has started conversations with studios and networks about locating their after-Emmy parties downtown (much as CBS Paramount did last year with its "Entertainment Tonight" shindig at Walt Disney Concert Hall).

It's that ability to "dump and load once," said AEG prexy-chief exec Tim Leiweke, that is one of AEG's big selling points.

"We're very aware of the issues of getting people in and around Los Angeles," he said. "Downtown's easy, and it's the highest of priorities to convince the entertainment industry to get people to come and leave once. It's an ability to have a bigger event and, from a cost standpoint, gives people the opportunity to host these parties at a more reasonable cost."

The move is a great highlight of the energy that a venue like the Nokia can create for other spaces Downtown.

www.blogdowntown.com

Good news for the Nokia, bad news for the Shrine. Somehow, there ought to be enough events to keep the Pantages, Nokia, Kodak, Shrine, Broadway, etc. running - its really too bad that this isn't the case.

[JDRCRASH]

Originally Posted by San Marino Guy

Hey everyone,
Well, it looks like I'm the new guy here. That sucks. So yeah. Whatever happened to that St. Vibiana Tower Project?

Welcome!

I asked the same question a while back, and I think I was told it was On-Hold.

[JDRCRASH]

Originally Posted by StethJeff

Good news for the Nokia, bad news for the Shrine. Somehow, there ought to be enough events to keep the Pantages, Nokia, Kodak, Shrine, Broadway, etc. running - its really too bad that this isn't the case.

Well according to people in charge of Emmy's, the event has simply out grown the place.

[BrandonJXN]

Originally Posted by JDRCRASH

Welcome!

I asked the same question a while back, and I think I was told it was On-Hold.

You were told wrong. It's still in the design process.

[JDRCRASH]

Originally Posted by ThreeHundred

You were told wrong. It's still in the design process.

And who told you that?

[Steve2726]

Here is an excerpt from an article in today's Wall St. Journal that sheds some light on the Grand Ave project status-

http://online.wsj.com/article/SB120528530590529155.html?mod=todays_us_marketplace

Middle East Players Arrive
Government Investment Funds,
Individuals Fill Need for Cash
On Developments Across U.S.
By JONATHAN KARP and MICHAEL CORKERY
March 12, 2008; Page B9

When Related Cos. lost a key investor in a multibillion-dollar residential, retail and hotel project in Los Angeles last year, the developer looked past U.S. pension funds and instead filled the void with petrodollars: Istithmar World Capital PJSC, a Dubai government-owned investment vehicle, agreed recently to put up $100 million.

In a separate deal reached in December but disclosed only in recent weeks, Dubai's Istithmar signed on as an equity partner in Related's $3 billion Grand Avenue project -- dubbed The Grand -- in Los Angeles. The $100 million commitment represents a 40% stake in the Frank Gehry-designed project. Mandarin Oriental Hotel Group, which will manage the development's luxury hotel, has committed $42 million. Both investments await Los Angeles city and county approval, which are expected this month and are needed to help Related secure financing for construction, due to start this year.

Mr. Blau (President of Related) says that unlike U.S. financial firms, the developer wasn't in need of a bailout and had plenty of interest from sovereign-wealth funds and pension funds. "We didn't go search for this money. This was a one-phone-call transaction," he says.

[BrandonJXN]

Originally Posted by JDRCRASH

And who told you that?

A little birdie.

[JDRCRASH]

Originally Posted by ThreeHundred

A little birdie.

That's nice.

But regardless, notice how I said "I THINK". I've learned to properly use the right vocabulary for people to understand what i'm saying.

[JDRCRASH]

Interesting:

717 W 9th:

1/26/08

From Flickr ericrichardson

3/12/08

From Flickr ericrichardson

Wow, that was fast. Less than 2/3 to go?

[JDRCRASH]

Grand Avenue Project Status

There is a special reason why I posted this guys......notice what I highlighted in the article.

Grand Avenue project changes ownership

By Troy Anderson, Staff Writer
Article Last Updated: 03/11/2008 09:14:27 PM PDT


The Los Angeles County Board of Supervisors on Tuesday approved an ownership change for the $3 billion Grand Avenue project in downtown Los Angeles, transferring a 45 percent capital interest to a Dubai-owned company.

The developer, The Related Cos., will retain a 55 percent capital interest in the project.

Related's previous equity partner, California Urban Investment Partners - owned 97 percent by CalPERS and 3 percent by MacFarlane Urban Realty Co. - decided not to participate in the project.

"Unfortunately, CalPERS and MacFarlane were overinvested in downtown so Related has sought to find another equity partner," Supervisor Gloria Molina said.

"Related found Istithmar (Group), which was previously invested with them in the Time Warner Center Mandarin Oriental Hotel (in New York City) so they've dealt with them before. Under the ownership ... they will own the project and have key Related personnel remain as our contacts."

The supervisors voted 4-0 for the deal with the Istithmar Group - a subsidiary of Dubai World, a privately held holding company owned by the government of Dubai.

Supervisor Michael D. Antonovich, who has long criticized the plan, abstained. Afterward, Antonovich said he's been frustrated with construction delays and an estimated $176 million in taxpayer subsidies.

"It's a project I've been concerned about from the beginning," Antonovich said. "It's benefiting a handful of people and the cost overruns built into this project will be borne by the taxpayers who will be victimized once again from these types of developers."
Construction on the project was originally expected to begin last year, but was delayed due to a lawsuit filed by the Bonaventure Hotel.

Now that the lawsuit has been settled, Related Cos. of California President Bill Witte said he expects construction to start in LATE summer.

The project, featuring a 16-acre park and a Frank Gehry-designed tower near the Walt Disney Concert Hall, will include retail stores, cafes, restaurants and bars expected to transform the area into a cultural and entertainment hub.

It will consist of 3.6 million square feet of new development, including a 48-story Mandarin Oriental Hotel & Residences, a 250,000-square-foot retail pavilion, a 19-story residential tower and a 16-acre park between City Hall and the Music Center.

At the meeting, Antonovich asked county Chief Executive Officer Bill Fujioka why CalPERS and MacFarlane withdrew from the project.

"I can't speak to the reason why CalPERS withdrew their investment, but I can speak to the strength of the proposed new partner," Fujioka said.

"We looked at other projects and feel this is a good match. And we stand behind it."

Witte said construction costs have leveled off, partly due to a slowdown in the economy, and he said he expects demand for retail space downtown to increase.

"I think there is a lot of room for growth," Witte said. "And we have been pleasantly surprised by the response from the retail community we have gotten over the last year.

"With the residential market, interestingly, the downtown market is generally performing better than other submarkets in the area."

[email protected] 213-974-8985

[Echo Park]

^It's the reason I stopped caring about groundbreaking dates. When it breaks it breaks. Not listening to any developer anymore.

And you didn't credit those flickr photos thoroughly enough, JDRCRASH. You have to credit the flickr username as well cause fflint or KevinFromTexas will spank you.