LOS ANGELES | Central City Project Rundown 5.0

[alki]

Originally Posted by blackcat23

If there were comparable projects being built in Downtown by American companies, I'd agree with you. But there aren't. Fig Central and Metropolis are backed by Chinese capital. The Wilshire Grand is a glamor project for Korean Airlines.

American developers have different expectations, and employment/wage growth in LA hasn't been as robust as in places like SF or Houston.

People forget how critical the economic issues are to development. Even with that, LA frequently will get a pass like with the Wishire Grand because its the second largest metro and the capital of the movie industry......sometimes but not always. If I were a developer right now, I would be worried that several markets, including DTLA, are getting overbuilt.

[upward 2000]

Originally Posted by alki

People forget how critical the economic issues are to development. Even with that, LA frequently will get a pass like with the Wishire Grand because its the second largest metro and the capital of the movie industry......sometimes but not always. If I were a developer right now, I would be worried that several markets, including DTLA, are getting overbuilt.

DTLA has been dormant for decades. As long as there is a demand for all this construction developers will build.

[Docjalby]

Originally Posted by Mojeda101

Would've killed for the GAP Factory Store to look even slightly like that.

So I know what the frontage of Gap factory will look like once all the permits go through. Withhold judgement for 3-4 months

[Mojeda101]

Originally Posted by Docjalby

So I know what the frontage of Gap factory will look like once all the permits go through. Withhold judgement for 3-4 months

You can't leave us hanging like that. Will it have a vintage look to it? Blade sign? Anything is better than what it currently looks to be honest. Or will it look similar to existing designs?

[alki]

Originally Posted by upward 2000

DTLA has been dormant for decades. As long as there is a demand for all this construction developers will build.

That's right. There isn't a history to know what typical demand is. That's why developers may become cautious now that so many units are under construction.

[upward 2000]

Originally Posted by alki

That's right. There isn't a history to know what typical demand is. That's why developers may become cautious now that so many units are under construction.

It is an amazing time now unlike the past 25 years. With the exception of the past Vegas building boom. All the new projects and proposed. Not only on the west coast but on the east coast as well.

[alki]

Originally Posted by upward 2000

It is an amazing time now unlike the past 25 years. With the exception of the past Vegas building boom. All the new projects and proposed. Not only on the west coast but on the east coast as well.

Yup. Its rather amazing to see so many cities with lots of units under construction. After decades of suburban growth, its time for the cities to grow.

[ChelseaFC]

Need some mystery project detective work from the board:

multi-story project at 18th/Georgia southeast of the 110/10 interchange

[Muji]

Funnily enough, I also noticed that same project for the first time today and wondered what it was. It appears that the construction is for a new service building for the Mercedes-Benz dealership facing Figueroa, with 7(!) levels of parking. Link: http://161.149.221.137/caseinfo/casesumm...zimas=y&pin=&address=656%20W%2018TH%20ST

[ladowntowner]

Originally Posted by Muji

Funnily enough, I also noticed that same project for the first time today and wondered what it was. It appears that the construction is for a new service building for the Mercedes-Benz dealership facing Figueroa, with 7(!) levels of parking. Link: http://161.149.221.137/caseinfo/casesumm...zimas=y&pin=&address=656%20W%2018TH%20ST

Such a shame something like this was approved to be built in such close proximity to the Patriotic Hall.

[ChelseaFC]

Originally Posted by Muji

Funnily enough, I also noticed that same project for the first time today and wondered what it was. It appears that the construction is for a new service building for the Mercedes-Benz dealership facing Figueroa, with 7(!) levels of parking. Link: http://161.149.221.137/caseinfo/casesumm...zimas=y&pin=&address=656%20W%2018TH%20ST

Thanks so much!

[Flavius Josephus]

Originally Posted by ladowntowner

Such a shame something like this was approved to be built in such close proximity to the Patriotic Hall.

I think it's an industrial zoned property south of the 10, and it looks like the only discretionary approval was the SPR--almost a by-right project. Not sure the city would have the power to block it for esthetic reasons alone. And if a parking garage allows for development of nearby surface parking lots, it'll have some positive impacts.

[ConstructDTLA]

[ThomJames]

Thanks for the great pictures as always Hunter. I really like the Broad. I think once all of the scaffolding is down and the construction walls are cleared, it will definitely be a double take for those passing by. I think it's rather austere yet still interesting exterior provides a great contrast to the Disney Hall. And from the interior shots I've seen, seems like the inside will be breathtaking.

[LosAngelesSportsFan]

Broad is looking much much better as construction comes to a close

[The Illusive Man]

The Broad looks great. It may not look exactly like the renderings but it still looks pretty damn nice.

[Mojeda101]

http://la.curbed.com/archives/2014/12/revived_metropolis_megaproject_is_on_a_tear_in_south_park.php

Looks like Metropolis phase 2 broke ground, or just the 40 story at least. groundbreaking for the 58 story hasn't started yet, but at least 3 out of the 4 are underway.

[caligrad]

So.....curbed says that 80% of the first residential tower is already leased up/sold. I would like to know the demographics on that one. Meaning.... what percentage are American buyers and what percentage will be foreign buyers. i'm not a nay sayer at all. I'm glad this project is going full speed ahead and doing well apparently. But now that I think about it... what percentage of the towers will sit empty most of the year? Turning a dead zone into a towering dead zone isn't good either....even though it will add much needed density and skyline to downtown.

[Valyrian Steel]

Originally Posted by ThomJames

Thanks for the great pictures as always Hunter. I really like the Broad. I think once all of the scaffolding is down and the construction walls are cleared, it will definitely be a double take for those passing by. I think it's rather austere yet still interesting exterior provides a great contrast to the Disney Hall. And from the interior shots I've seen, seems like the inside will be breathtaking.

Originally Posted by LosAngelesSportsFan

Broad is looking much much better as construction comes to a close

Originally Posted by The Illusive Man

The Broad looks great. It may not look exactly like the renderings but it still looks pretty damn nice.

Agreed. I was disappointed just weeks ago as the facade looked like a huge downgrade to what it was supposed to look like. But it looks pretty good after seeing it with most of the scaffolding removed.

[brudy]

Originally Posted by caligrad

So.....curbed says that 80% of the first residential tower is already leased up/sold. I would like to know the demographics on that one. Meaning.... what percentage are American buyers and what percentage will be foreign buyers. i'm not a nay sayer at all. I'm glad this project is going full speed ahead and doing well apparently. But now that I think about it... what percentage of the towers will sit empty most of the year? Turning a dead zone into a towering dead zone isn't good either....even though it will add much needed density and skyline to downtown.

I bet a lot of these luxury condo units will be just like in NYC - a place to park cash for a while, and will do nothing for the area in terms of population.