LOS ANGELES | Central City Project Rundown 5.0 - Page 361

alki · #**7201** Posted **Dec 17, 2014, 6:22 PM**

Quote:

Originally Posted by Flavius Josephus

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

I tend to agree with you. If breakeven for most hotels is in the 60s and DT as a whole is experiencing occupancy rates in the low to mid 70s, then why the need for tax breaks? Wouldn't it be better to give some tech company the tax breaks to get them to relocate DT?

Illithid Dude · #**7202** Posted **Dec 17, 2014, 6:26 PM**

Quote:

Originally Posted by Trojan

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.

A Paul Smith? I haven't heard anything about that. Would be kinda a weird location for them IMO.

LosAngelesSportsFan · #**7203** Posted **Dec 17, 2014, 6:28 PM**

According to the LA business journal, which has monthly stats, occupancies countywide tend to be in the low 80's percentile with average room rates around $180, but those do vary somewhat month to month.

Regardless, LA, and downtown in particular, need many many more rooms. The demand has skyrocketed and is only increasing with increased demand from. Asia and China in particular.

DistrictDirt · #**7204** Posted **Dec 17, 2014, 6:28 PM**

I love that they put the streetcar in the latest renderings.

brudy · #**7205** Posted **Dec 17, 2014, 7:26 PM**

Quote:

Originally Posted by Flavius Josephus

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

Yeah, I totally agree with you. At some point it doesn't make sense for the city to keep doling them out. I guess that's a separate issue though from needing more hotel rooms in downtown.

Trojan · #**7206** Posted **Dec 17, 2014, 9:25 PM**

The renderings of the streetcar in front of the Bloc look nice and perfect for every urban planner's wet dream. However, in reality if the streetcar can't be done right then it shouldn't be done at all. Signal priority is a huge issue, especially on 7th St, and if that's not done then there's no point of the streetcar. It's just going to get backed up on 7th in traffic and red lights. In that rendering it looks like the sidewalk is very wide and a lane or two of traffic is taken out as well. What a nightmare that's gonna be. I like the streetcar and all but like I said it needs to be done right if it's done at all. I have a feeling it won't be done right, look at Expo Line phase 1 Flower St. segment.. still no action from LADOT on signal priority for the train.

Trojan · #**7207** Posted **Dec 17, 2014, 9:40 PM**

Quote:

Originally Posted by Flavius Josephus

I've added the latest LADCP filings to the Metro thread. DTLA & adjacent ones are:

- 520 W 7th (DTLA) - Expedited Tentative Tract Map for the Brockman Building (lofts)

Does this mean the Brockman is being converted to condos?

bobcat · #**7208** Posted **Dec 17, 2014, 9:51 PM**

Quote:

Originally Posted by alki

I tend to agree with you. If breakeven for most hotels is in the 60s and DT as a whole is experiencing occupancy rates in the low to mid 70s, then why the need for tax breaks?

The way I understand it is that it's not a matter of hotels being profitable but that of residential being more profitable. So if left to their own devices developers will choose to build only condos and apartments. The city is offering tax breaks because they want the convention center to stop being the financial albatross that it is and start being a revenue generator.

Flavius Josephus · #**7209** Posted **Dec 17, 2014, 10:39 PM**

Quote:

Originally Posted by Trojan

Does this mean the Brockman is being converted to condos?

I'm not sure. The website looks like rentals still. I don't know much about tract map law. It may be condos, or that they were meant to do it before but forgot, or that it's some sort of financing transaction that requires subdividing the lot.

Flavius Josephus · #**7210** Posted **Dec 17, 2014, 10:40 PM**

Quote:

Originally Posted by bobcat

The way I understand it is that it's not a matter of hotels being profitable but that of residential being more profitable. So if left to their own devices developers will choose to build only condos and apartments. The city is offering tax breaks because they want the convention center to stop being the financial albatross that it is and start being a revenue generator.

All the while, people are suffering because of the shortage of residential units. Subsidizing the convention center while ignoring the people who need housing is nuts.

ConstructDTLA · #**7211** Posted **Dec 17, 2014, 11:01 PM**

New retail squeezed into the tiny spots at the Tower Theatre:

Docjalby · #**7212** Posted **Dec 17, 2014, 11:10 PM**

Quote:

Originally Posted by Flavius Josephus

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

I went to the streetcar community meeting a couple of months ago. They really only talked about the 7th street route and said that is the one they prefer.

Docjalby · #**7213** Posted **Dec 17, 2014, 11:11 PM**

Quote:

Originally Posted by alki

I tend to agree with you. If breakeven for most hotels is in the 60s and DT as a whole is experiencing occupancy rates in the low to mid 70s, then why the need for tax breaks? Wouldn't it be better to give some tech company the tax breaks to get them to relocate DT?

There was an article in either the LA Times or the DT News about 4 months ago about how they are stopping giving hotel tax cuts in order to build them. Metropolis was going to the be last hotel through the tax cut door.

Docjalby · #**7214** Posted **Dec 17, 2014, 11:14 PM**

Quote:

Originally Posted by citywatch

theblocdowntown.com

The thing I love about this picture is they have the protected bike lan inside of the streetcar. Thats how they do it in NYC and I would love that. Def feel a lot more safe.

Flavius Josephus · #**7215** Posted **Dec 17, 2014, 11:45 PM**

Quote:

Originally Posted by Docjalby

I went to the streetcar community meeting a couple of months ago. They really only talked about the 7th street route and said that is the one they prefer.

I wonder if the Bloc owners might be chipping in some extra funding. I think the streetcar's going to struggle to get federal funds, so the Streetcar people are going to need all the financial help they can get.

(Also, did anyone else notice that the streetcar shown has a pantograph to pick up electricity, but no overhead wire to pick it up from?)

DistrictDirt · #**7216** Posted **Dec 18, 2014, 1:06 AM**

Quote:

Originally Posted by Flavius Josephus

(Also, did anyone else notice that the streetcar shown has a pantograph to pick up electricity, but no overhead wire to pick it up from?)

Haha, good catch.

brudy · #**7217** Posted **Dec 18, 2014, 1:12 AM**

Quote:

Originally Posted by Flavius Josephus

All the while, people are suffering because of the shortage of residential units. Subsidizing the convention center while ignoring the people who need housing is nuts.

The city needs a healthy convention center market, it can't be all residential. If they need to dole out tax breaks for another few years to make it viable, I'm fine with that.

brudy · #**7218** Posted **Dec 18, 2014, 1:12 AM**

Quote:

Originally Posted by Docjalby

I went to the streetcar community meeting a couple of months ago. They really only talked about the 7th street route and said that is the one they prefer.

Can they fit that protected bike lane in there? Seems really tight as it is.

Eightball · #**7219** Posted **Dec 18, 2014, 1:48 AM**

7th St makes sense cause that's where the busiest station in the whole Metro system is

citywatch · #**7220** Posted **Dec 18, 2014, 2:38 AM**

this vid starts off slowly but the point it makes towards the end needs to come with a footnote.....

• Video Link

.....dt is going to blossom even more & more as the future unfolds!

meanwhile, this....

made me think of this....

artobserved.com

.