LOS ANGELES | Downtown Project Rundown 3.0

[BrandonJXN]

Originally Posted by Just-In-Cali

Great Pics QuarterMile! I need to get to that observation deck at City Hall. Despite what many have said, I actually really like that glass pattern on the Ritz. It may not suit all tastes, but it is definatly an eye catcher, and not really a bad one. I would be disapointed if we had just another light blue glass box.
Now if we could just get that Fig Central going to supplement LA Live...

I know there was a small chat about how the Ritz will be lit up at night and seeing as how I love unique displays, I would think that the best type of display would be to use the same style that Cosmopolitan (Denizen) in will use.

[JDRCRASH]

Spotlights pointing up into the sky? I kinda like it.

[Just-In-Cali]

^ I think he is refering more to the blue lighting bands all over the facade. That actually would look pretty good if they do it sparingly like they have it on that render.

[RuFFy]

I think the Ritz is gonna be lit up with a giant TV.

[colemonkee]

Wah wah wah waahhhhhhhhh!!!! Should have seen this one coming. At least it won't affect 717 Ninth, or so they say...

From the Los Angeles Business Journal


Meruelo Maddux Files Chapter 11
By DEBORAH CROWE
Los Angeles Business Journal Staff

Struggling downtown L.A. landlord Meruelo Maddux Properties said late Thursday that it had filed for Chapter 11 bankruptcy protection, citing severe cash flow problems.

The Los Angeles developer of commercial and multi-family residential properties announced earlier this month that it had stopped making payments on 26 real estate loans totaling $266 million, and warned that independent auditors were likely to issue a "going concern" opinion questioning the company’s ability to remain in business.

Meruelo Maddux provided no financial details in today’s press release posted on PR Newswire, and the filing itself was not yet available online. The publically held company did say that its 35-story 717 W. Ninth Street residential tower project, currently under construction, would not be included in the filing.

"The company worked with diligence to avoid a reorganization filing," said Chief Executive Richard Meruelo in a statement. "Despite our best efforts and careful consideration of all other alternatives, the filing became necessary given the challenging economic climate. Now, our goal is to implement a comprehensive reorganization and continue to seek additional outside financing which we believe will allow us to move forward."

Meruelo Maddux began the year with $4.5 million in unrestricted cash, but said in its fourth quarter filing that it would need to generate an additional $28 million in income annually to cover current cash shortfalls. Although some properties it plans to sell to raise cash are in escrow, none of the sales have closed so far this year.

[dachacon]

what is the final price tag for the Ritz and 717?

[colemonkee]

^ They're both still under construction, so I don't think there is a final price tag just yet.

[colemonkee]

Ritz, 717 Ninth, and Concerto in the skyline, taken on Tuesday.

[Hoodrat]

^^
Amazing!

[LosAngelesBeauty]

Ritz really anchors the southern skyline now, more so than ever when AT&T tower was the lone tower back then.

[SD_Phil]

^Great shot. Makes the ritz look taller than most pictures i've seen.

[Just-In-Cali]

Nice shot colemonkee. I have always though, if ever a second "supertall" goes up in the city...it should go up halfway in between...at least in this shot...777 Tower and Aon. It would throw a good balance in there, especially if its taller than US Bank.
Ritz looks like such a huge block from that angle. Kinda wish the tapering they have on the east and west faces was carried into the narrow north and south faces.

[OneMetropolis]

Originally Posted by colemonkee

Ritz, 717 Ninth, and Concerto in the skyline, taken on Tuesday.

I Love L.A. so much!!!

[DowntownGymRat]

definitely a good pic Colemonkee, but to me this perspective shows how Not dense our downtown truly is. My favorite shot of the skyline is always coming up the 110 North. That's when the Ritz REALLY looks huge. One question I had though was is LA Live going to continue running those 20 - 30 spotlights every night when the Ritz opens? I can't imagine how annoying that would be to have an East facing unit and constant spotlighting beaming through your windows. Every once in a while at night, a police helicopter will light up my living room like it's daytime

[LACienega]

^^Our skyline is very dense. Its just the way that it looks like from the north. Midtown Manhattan looks similar to that pictre from NJ

[JDRCRASH]

Originally Posted by RuFFy

I think the Ritz is gonna be lit up with a giant TV.

I heard (from LAB, i think) it's not gonna block the views from inside it. Which makes the "supergraphic" excuse not valid for Hathaway and his little cronies.

[Just-In-Cali]

^^^This angle is a bit deceiving as far as denseness, as we are looking at the skyline right along its east-west road grid, so we are seeing many of the buildings lined up with each other, and consequently thinning out the skyline.
Turn this camera angle about 20 degrees, and you would see a nearly solid block of structures.

[Kingofthehill]

[Kingofthehill]

I have a pic of The Medallion, if anybody wants to see that.

[DowntownCharlieBrown]

^Things are slowing down, we'll take whatever you give us.

Of course we want to see it.

The ones posted above are really nice btw.