Nice update Mojeda, such clarity in those pictures & perspectives!! further builds the excitement of seeing where DTLA is headed, I came across a few articles online about DTLA check them out!!
Last Updated: November 4, 2013 04:22pm ET
Downtown Los Angeles Hotel Market Hot By Kelsi Maree Borland | Los Angeles RealShare NET LEASE WEST, our concentrated two-day conference will take place on November 19-20 at the California Club in Los Angeles. Join the industry's leaders —high-level deal makers in the brokerage world, REITs, investment and finance and developers — as they discuss the current state of the net lease market, future trends and where we are headed in 2014. Register now!
http://www.globest.com/news/12_727/losangeles/other/Downtown-Hotel-Market-Hot-339360.html
Schatz: “The hotel market is hot and expanding.”
LOS ANGELES-The hotel market is the latest sector to pop in the ongoing downtown renaissance, which has already experienced a boom in the multifamily and office sectors. Several new boutique hotel projects are currently underway, according to Carol E. Schatz, president and CEO of the Downtown Center Business Improvement District and Central City Association, the organizers behind the upcoming Renaissance of Downtown Los Angeles: Opportunity Knocks conference.
The conference will dig deep into all sectors of the downtown market, which is expanding from every angle. The newly growing hotel sector includes the Wilshire Grand and the proposed Grand Avenue projects, and the highly anticipated opening of the Ace Hotel later this year. Of course, the multifamily realm has the most notable growth. Schatz says there are 5,000 multifamily units currently under construction downtown with new projects being announced frequently, including the Megatoys Warehouse project. Schatz also points out the massive retail renovations of mixed-use assets, including FIGat7th and the Bloc, which “will provide a major boost to [the] downtown retail market.”
Conference attendees will get a crash course in the downtown renaissance and investment opportunities. “Since 1999, there has been almost $16 billion in real estate investment in Downtown L.A.,” Schatz tells GlobeSt.com. “We know that there are many investors and others who still need to know about our story and how they can benefit from the opportunity to invest, develop or do business in our central city.”
To share the downtown story, Schatz has lined up an impressive list of real estate and investment power players with stakes in the downtown market, who will speak across four panels: hospitality, sports and entertainment panel; residential panel; office panel; and the retail panel. Dan Beckerman, AEG CEO; Bert Dezzutti, Brookfield Office PropertiesSVP, Western Region; Chris Martin, AC Martin Partners Inc. CEO and Martin Project Management CEO and president, Wayne Ratkovich, president and CEO; Bill Witte, Related California president are among the “powerhouse speakers,” as Schatz calls them, to speak on the panel. “We're confident that these panels encompassing four important real estate markets will encourage participants to invest or develop in Downtown L.A,” says Schatz.
To round out the conference, Eli Broad, founder of the Broad Association and Fortune 500 Companies Sun America Inc. and KB Home, will sit down for an intimate interview about the downtown market. The day-long event concludes with a bus tour through downtown to see first hand the real estate and development opportunities available. “We expect this upward momentum to continue, based on the strong interest we are seeing from investors and developers across all the market segments,” Schatz says. The Downtown Renaissance is 15-years-old, but it’s still in its infancy with much, much more to come.”
Last Updated: November 1, 2013 02:05pm ET
EXCLUSIVE
Downtown Momentum Still Accelerating
By Kelsi Maree Borland | Los Angeles
http://www.globest.com/news/12_726/losan...ntum-Continues-to-Accelerate-339304.html
Matkins: “Everybody wants to live downtown.”
LOS ANGELES-Downtown Los Angeles momentum is accelerating, according to the 60 real estate power players who gathered for the debut Downtown Los Angeles Roundtable event hosted by Allen Matkins and CBRE, GlobeSt.com reports in this exclusive story. The esteemed guest list included the top real estate brokers, investment firms, development firms and city planners invested in the emerging downtown market.
“There is tremendous momentum in Downtown L.A.,” Lew Horne, CBRE executive managing director, tells GlobeSt.com. “If you look at all of the different neighborhoods and really break the city down, it’s incredibly eclectic and dynamic. People are excited to go exploring here.”
Wayne Ratkovich, the Ratkovich Co. president and CEO, kicked off the event with a 100-year history of downtown before leaders engaged in an open exchange about the current downtown market. Topics ping-ponged between creative office, development, transportation, sports arenas and downtown demographics and income. Overall, the group, which included Phil Belling of LBA Realty, Rob Jernigan of Gensler, Carol Schatz of CCA of Los Angeles, John Barganski of Brookfield Office Properties, Billy Chun of City of Los Angeles and Ted Tanner of AEW Capital Management, offered a positive outlook on the downtown market.
There was a large dialogue around creative office space, according to Mike Matkins, Allen Matkins founding partner. Some debated whether industrial conversions to creative space were competition for high rise buildings, and high rise owners explained that they are implementing those same amenities and features in their buildings. Of course, CBRE is a part of this movement. The company recently unveiled a new creative office headquarters downtown. “Downtown is a real viable option now for not just creative users but sophisticated, higher-end financial services and law firms,” Horne says. “There is a lot more interest now because the environment is changing so positively.”
Creative office focuses on using space more efficiently, a trend also found in multifamily where units are getting smaller and outdoors space is more common, like the Megatoys two-building multifamily development currently under construction in the arts district. “It is almost communal living,” Matkins tells GlobeSt.com. However, currently 500,000 people work downtown while only 50,000 people live downtown. “That is a staggering statistic,” says Horne. While new multifamily developments will help bring people downtown, the roundtable also discussed the need for a school system so that young couples who move downtown will stay downtown once they start a family.
Horne: “[Downtown] is incredibly eclectic and dynamic.”
Matkins also noted that a major benefit of living downtown was the walkability and proximity to public transportation. “People want to get out of the markets where you have to use a car,” he says. “Everybody wants to live downtown. Downtown is hip; it is cheaper to live downtown; everything about downtown was better for young people.”
New foreign capital coming into the downtown market is another a strong indicator of downtown’s growth, according to Horne. “The global capital market community looks at Los Angeles as a global city. That is a great value,” he says, adding that major Chinese investors are looking at large sites downtown.
The event was such a success that CBRE and Allen Matkins plan to host another roundtable in March, and are hoping to put similar roundtables together two to three times per year. “Lew and I joked that if we would have done this 10 years ago, three guys would have showed up because no one cared about downtown,” says Matkins. “Not only did they come together with some passion and a lot of interest, they really had a very healthy dialogue about where Los Angeles has come from and what the future holds.”
http://downtownexaminer.com/news/
RUMOR HAS IT South Park Car Wash Sale Breaking All Downtown For Sale Land Value Records! At close to $546 – $700 per square foot, Rumor Has It the car wash is in escrow for approximately $20,000,000 – $25,000,000. The site at 811 W. Olympic Blvd. has been home since 1980 to the Downtown Car Wash. The lot measures approximately 36,608 square feet, and we will be sad to see our old handy car wash go. It will also be a sad day for the Hotel Figueroa advertising murals, as they will most definitely be blocked by the proposed new development (unless they work out a deal with the new buyers).
Prev
Linear Mode
