LOS ANGELES | Central City Project Rundown 5.0 - Page 360

ConstructDTLA · #**7181** Posted **Dec 17, 2014, 5:26 AM**

Quote:

Originally Posted by alki

I wouldn't jump to conclusions just yet. We knew to some degree that the Ace brand was in trouble when they were rehabbing the hotel........they cut corners and the founder died in the middle of the job. I suspect they were and have been having financial/liquidity problems. That leads to the sale of assets. Doesn't mean the hotel was doing poorly.

Hopefully whoever buys it does a genuine exterior restoration.

Are there any published figures for Ace DTLA?

Flavius Josephus · #**7182** Posted **Dec 17, 2014, 5:42 AM**

Quote:

Originally Posted by DTLAdenizen

Hopefully whoever buys it does a genuine exterior restoration.

Are there any published figures for Ace DTLA?

Also, isn't Ace generally an operating company rather than a landowner? It strikes me as entirely plausible that the landlord could be in financial trouble (perhaps because of other assets) and thus would need to sell off while the operating company is doing just fine.

Anyway, with this hotel subsidy binge that the City Council's been on recently, it wouldn't shock me if DTLA overbuilt hotels. The Council seems intent on building for huge events, leaving massive slack in more normal times. But hotels are relatively easy to convert to normal residential if that's what the market favors.

alki · #**7183** Posted **Dec 17, 2014, 6:06 AM**

Quote:

Originally Posted by DTLAdenizen

Hopefully whoever buys it does a genuine exterior restoration.

Are there any published figures for Ace DTLA?

I have never been able to find current occupancy rates for DT hotels. They used to publish them regularly. I am not sure why they stopped.

It wouldn't be such a bad thing to have someone come in and finish the restoration. Of course, the $100 million sale price for that bldg looks to be very over priced esp with the work that still needs to be done.

EDIT: Of course as soon as I said I couldn't find any current data on occupancy rates, I found some. As of the first two months of 2014, hotel occupancy was in the low 70s which is a good rate. There are 3200 units either proposed or under construction:

http://www.downtownla.com/pdfs/econ_developments/Q12014MarketReport8.7.14.vf.pdf

In the same report, they claim the downtown population has grown by 10K in the 3.5 years since 2010 and currently stands at 54K.

brudy · #**7184** Posted **Dec 17, 2014, 6:20 AM**

I wouldn't go nuts yet. Even if it sells, it's probably not the end of the Ace brand there. It's doing well, at least from what I've heard and any buyer would be nuts to switch it up.

rajuncajun · #**7185** Posted **Dec 17, 2014, 6:30 AM**

Is this an old or new rendering for the Bloc found at a downtown news article from today?

alki · #**7186** Posted **Dec 17, 2014, 6:52 AM**

Quote:

Originally Posted by rajuncajun

Is this an old or new rendering for the Bloc found at a downtown news article from today?

It looks new to me.....although the perspective looks out of whack.

LosAngelesSportsFan · #**7187** Posted **Dec 17, 2014, 6:56 AM**

Guys, the Ace hotel isn't for sale, the building is. The new buyer would have an option to buy out the ace, but that is highly unlikely. They do well... I wouldn't be shocked if they do real well

citywatch · #**7188** Posted **Dec 17, 2014, 6:58 AM**

Quote:

Originally Posted by rajuncajun

Is this an old or new rendering for the Bloc found at a downtown news article from today?

Yes, I've noticed different images being released by them every now & then.

I'm becoming apprehensive because it seems like the owner should have settled on a basic design well before today. Or I should say I'm mainly wary cuz aspects of what's shown in the images don't look all that impressive to me. Certain features of the renovation remind me of a remodeled....1970s bldg, where the owner found his budget smaller than originally anticipated. I hope my fears are proven wrong once the work is completed.

these images open up to an overly large size, but I'm too lazy to try to make them conform to the dimensions of this thread. sorry! the view size of one's browser can be decreased to eliminate the need to scroll to see each pic.

theblocdowntown.com

theblocdowntown.com

I don't know if painting large portions of the current brick exterior a dark brown will make the facade all that much nicer....

theblocdowntown.com

this definitely is a new image, & the hypothetical mural looks nice...

theblocdowntown.com

citywatch · #**7189** Posted **Dec 17, 2014, 7:17 AM**

the bloc released within the past few wks a vid showing images of the remodeled sheraton.

I'm amazed at what must have taken quite a few hrs of work by their computer illustrators, who are creating images based on what the designers or architects are crafting or dreaming up, who then have to put those ideas into blueprint form, which then needs to be fabricated by contractors, which then needs to be assembled & installed by skilled workers. I'm exhausted just thinking of all the steps that are required to build something.

• Video Link

even the junk put out by a TCA or a palmer proj still requires a certain degree of major effort & a certain amt of skill to put into effect.

ChelseaFC · #**7190** Posted **Dec 17, 2014, 7:46 AM**

ChelseaFC: Below grade retail? Hells yes! Just like Rockefeller Center!

SSP forumers: or FIGat7th...idiot.

Docjalby · #**7191** Posted **Dec 17, 2014, 9:38 AM**

So I live across the street from the Bloc and have been following it quite closely. I spent a lot of time analyzing the photographs and the floor layouts that you can also find on the website here:

http://www.theblocdowntown.com/work/retail-leasing/footprint/

It looks like most of the downstairs is restaurants. They seem to be keeping a gym. There is space for two large retail stores in the back where Carls Junior and the food court used to be. It seems that the restaurant directly across from the gym is associated with the Sheratan because the elevators go directly to it.

As far as the pictures, this is the third set that has been done. The last two pictures are unchanged. The other ones are new.

Compared to the original plan, the layout of the stores hasn't really changed. There has always been a store that jutted out at Flower and 7th. There has always been an open air restaurant at 7th and hope on the top floor. The original pictures actually did a lot less with the bricks on the Flower and Hope street sides. They just painted over them. These pictures actually has a lot more done with them.

Docjalby · #**7192** Posted **Dec 17, 2014, 9:40 AM**

When they announced the Wingtips shop, they actually had a lot more stores listed on the "Coming soon" portion of the website. I copied them all down and wrote them up. Who knows if this is preliminary, or if they are actually coming. AS it stands right now they just have 3 stores officially on their current "coming soon" page.

So the Bloc released a list of new stores coming and I went through and researched them so you don't have to. Look at the map it appears they had about 30 different possible stores. You will note that Trader Joes is NOT listed (and never will be)
First the movie theater
Alamo Draft House
Been discussed here many a times.
Then the stores
& Pens Press
http://www.andpens.com/
This is a book store that appears to have only interesting random books. They also appear to be related to the taggers, Sumi Ink Club (gang), that are defacing the southern wall of the Bloc. The kind of books that they have look like they would be great to read while taking a dump. And I mean that in the best way. All look interesting. They have a sister store in San Fran that is successful.
Unnammed store by CNTRLGroup and Otto designs
These appear to be artists/architectural groups. They are supposed to have special exhibits in the store and also in the ground floor of the Bloc. I really have no idea what they are thinking.
Wingtip
http://wingtip.com/
This is a store for the upscale MadMen kind of crowd. Leather bags and shoes, nice suits, cigars. Stuff that is all to fancy for me.
That's it for store announcements so far.
Wingtip Club
http://wingtip.com/club
So in the Verizon building (700 Flower) they are putting in a club that is associate with the Wingtip Store. They have one in San Fran and from what I can tell, it is a lot like Los Angeles Athletic Club but without the gym. It's very upscale, proper dress encouraged. Wine bar, game room, 360 degree views of LA. I think it will be on floor 30 or 31 because those are the only floors that have no available office space. Now, this next part is pure speculative. They are planning on putting a rooftop deck on the Verizon building. It is in all the pictures. At the San Fran Wingtop club, they have a rooftop deck. I think there is a good chance (again, 100% speculative) that the deck on the Verizon building might be related to this club. The dues in SF vary. Highest is $300 a month for unlimited visits, but you also get $200 a month in store credit. Mid is $200 a month with $150 per month in store credit but you can only visit 6 times a quarter. Again, this is all for the SF club which actually gets amazing reviews on yelp.
1933 group
They have made bars across Hollywood and West Hollywood. I've only been to Sassyfrass which I really liked, but we won't really know what is going on with this until we see it.
Food:
Tail o' the Pup
http://la.curbed.com/…/watch_the_tail_o_the_pup_get_on_its_…
This will be one of the most iconic things in The Bloc. This is a historic hot dog stand that was on the corner of La Cienega and Beverly for ever. It looks like a hotdog. Kind of reminds me of the banana stand in Arrested Developement. It lost it's land where it originally was sold and the stand has been in storage for years. Apparently it has a lot of fans and they have been trying to bring it back for a while. Just two months ago there was a facebook post where they denied it was coming to the Grove. I guess we know where it is coming now.
TLT
You know this well
Starbucks Evenings
http://www.starbucks.com/…/starbucks-sto…/starbucks-evenings
Well, this is a Starbucks. But after 4PM, everybody gets cray cray and they start serving wine. You can still get coffee at this time. You still order your wine from the Barista and pick it up. There are about 4 other locations in California. I guess it is like going to the grocery store and drinking wine. If you don't like wine in your Starbucks, you can move to the suburbs.
Bombay Bully
I know it is Indian. That's all I know. There is no other location and no other information.
Fundamental
http://fundamental-la.com/
There is a fundamental in Westwood. It appears that they offer food that looks really good, but really small. I think I would need about 3 plates for a real meal. It gets a 4 star on Yelp and apparently has a good happy hour.
Urban Oven
http://www.theurbanoven.com/
This is a food truck that does Pizzas. They appear to be thin crust pizzas. This food truck gets 4.5 stars on yelp. That's about all I know.

Docjalby · #**7193** Posted **Dec 17, 2014, 3:02 PM**

Here are links to the first renderings of the Bloc:

August 2013
http://brighamyen.com/2013/08/30/new-ren...eover-bloc-show-complete-transformation/

October 2013
http://brighamyen.com/2013/10/10/feast-eyes-latest-renderings-revealed-bloc-makeover-downtown-la/

brudy · #**7194** Posted **Dec 17, 2014, 3:12 PM**

From what I understand the Otto and CNTRL group store is a collaboration between two Arts Districts stores: Apolis and then that store next to Blacktop Coffee that sells clothes, cool housewares, and usually has a vintage car in the middle of it.

Trojan · #**7195** Posted **Dec 17, 2014, 3:58 PM**

Expect a 24-hour Starbucks, Burke Williams, Paul Smith, Apolis, 6 restaurants on Hope St. etc etc, Flagship Macy's, and a lot of stores that don't have locations in LA yet.

Eightball · #**7196** Posted **Dec 17, 2014, 4:09 PM**

Having a bunch of restaurants at The Bloc will be awesome. They will be very successful, foot traffic is high around that block morning noon and night and will only increase as all these residential projects deliver. Took this pic of The Bloc couple days ago

The Bloc by thaeisahtbizall, on Flickr

Also, they've been removing the old brick floor in the new retail bay they created (not pictured). Hopefully they put in really nice flooring I imagine they will

Flavius Josephus · #**7197** Posted **Dec 17, 2014, 4:42 PM**

I see the Bloc renderings include the streetcar--does this mean that they've decided on the 7th St route rather than 9th?

jgacis · #**7198** Posted **Dec 17, 2014, 5:14 PM**

Quote:

Originally Posted by Flavius Josephus

Anyway, with this hotel subsidy binge that the City Council's been on recently, it wouldn't shock me if DTLA overbuilt hotels. The Council seems intent on building for huge events, leaving massive slack in more normal times. But hotels are relatively easy to convert to normal residential if that's what the market favors.

Im not sure about that. There is a large shortage of hotel rooms right now in the second largest city of America. Business venues who utilize hotels during conventions and large events is one thing, but let's not forget the increase in tourism LA has been experiencing year after year. More hotels also means better rates and options for everyone, making our economy even more viable and open to more opportunities/growth. I doubt hotels will be overbuilt in downtown. The growth there more attractions, businesses and residents - which mean a progressive need for more hotels in the future that hasn't been even realized yet.

brudy · #**7199** Posted **Dec 17, 2014, 5:34 PM**

Quote:

Originally Posted by jgacis

Im not sure about that. There is a large shortage of hotel rooms right now in the second largest city of America. Business venues who utilize hotels during conventions and large events is one thing, but let's not forget the increase in tourism LA has been experiencing year after year. More hotels also means better rates and options for everyone, making our economy even more viable and open to more opportunities/growth. I doubt hotels will be overbuilt in downtown. The growth there more attractions, businesses and residents - which mean a progressive need for more hotels in the future that hasn't been even realized yet.

Everything I've read as talked about a serious lack of hotel rooms in downtown. I think in just a few years downtown will be the best place to stay in LA. Lots of cultural attractions, top restos, shopping, walkable, and probably most importantly the rail hub to hollywood, Santa Monica and even Pasadena. You'll be able to get almost everywhere from here.

Flavius Josephus · #**7200** Posted **Dec 17, 2014, 5:38 PM**

Quote:

Originally Posted by brudy

Everything I've read as talked about a serious lack of hotel rooms in downtown. I think in just a few years downtown will be the best place to stay in LA. Lots of cultural attractions, top restos, shopping, walkable, and probably most importantly the rail hub to hollywood, Santa Monica and even Pasadena. You'll be able to get almost everywhere from here.

If that's the case, why give the tax breaks? It should make financial sense on its own.