LOS ANGELES | Downtown Project Rundown 6.0

[Wilcal]

Originally Posted by cesar90

• Video Link

Uh, oh Cesar--I saw your finger!

[Wilcal]

[QUOTE=black_crow;7472089]You are right, these two projects will have a big impact from this vantage point. 801 & 888 Olive Street might just disappear..

But I would say Circa is not big enough to block Onni's taller tower.
Even Oceanwide has only one taller tower.. the other two are 100 feet shorter.


Either way, they will be creating visual southward moving density

[NativeOrange]

Originally Posted by caligrad

http://www.skyscrapercity.com/showthread.php?t=147965&page=77

The original "proposal" was 45 floors but looks pretty tall. Everyone back then had the same complaints "horrible use of land, blah blah blah" and someone actually complained about the green space attached but it is what it is. looking at the bigger picture for downtown. This is a plus.

I remember that one now. Notice how the original proposal contradicts what I said by taking up the middle of the lot rather than the corner. If that's the case, I would be totally fine with whatever goes there, as long as it stays 40+ stories.

Before everyone starts declaring that this lot should be much taller, remember that there are dozens of empty lots still that can hold significant towers.

[NativeOrange]

Originally Posted by Wilcal

Uh, oh Cesar--I saw your finger!

Uh oh...where are the mods.

[bighomey3000]

When can we see adaptive reuse projects on the front page?

[caligrad]

^^^ I would actually be cool if it didn't. There are so many adaptive reuse projects going on downtown, they cluttered up the last thread badly. But granted Mojeda has been on top of the page to make sure it stays clean and organized.

[bighomey3000]

Originally Posted by caligrad

^^^ I would actually be cool if it didn't. There are so many adaptive reuse projects going on downtown, they cluttered up the last thread badly. But granted Mojeda has been on top of the page to make sure it stays clean and organized.

I am not sure how development projects "clutter up" a forum about development.

[Wilcal]

Originally Posted by NativeOrange

Uh oh...where are the mods.

Good God! Now that you mention it, I hope that it wasn't his middle finger that I saw. No worries, the moderators for some reason have not heavily edited my posts--even with the truly vulgar language which I sometimes use for special effect.

[Wilcal]

Originally Posted by caligrad

^^^ I would actually be cool if it didn't. There are so many adaptive reuse projects going on downtown, they cluttered up the last thread badly. But granted Mojeda has been on top of the page to make sure it stays clean and organized.

Perhaps there can be some special space reserved for adaptive reuse projects. I myself would like to be aware of them, and perhaps when I visit downtown see their progress.

[Wally West]

Originally Posted by Wilcal

Perhaps there can be some special space reserved for adaptive reuse projects. I myself would like to be aware of them, and perhaps when I visit downtown see their progress.

I second this. I like seeing DTLA grow with its adaptive reuse projects.

[bighomey3000]

Originally Posted by Wilcal

Perhaps there can be some special space reserved for adaptive reuse projects. I myself would like to be aware of them, and perhaps when I visit downtown see their progress.

Like the front page

[Easy]

Originally Posted by Wilcal

Perhaps there can be some special space reserved for adaptive reuse projects. I myself would like to be aware of them, and perhaps when I visit downtown see their progress.

How about another thread being that space? I prefer this one to be about ground up construction. But in the end whatever the OP wants to include is fine.

[caligrad]

Originally Posted by bighomey3000

I am not sure how development projects "clutter up" a forum about development.

Easy. Take a look at the front page of this thread and take a look at the front page of the old thread (still linked on the front page).

This Thread.

. Under Construction
. Approved
. Proposed
. Interactive map

Done, simple, Beautiful.

Old Thread.

. Under Construction
. Approved
. Proposed
. On Hold
. Canceled
. Recently Completed
. under renovation/reuse
. Proposed renovation/reuse
. Recently completed renovation/reuse
. Parks
. Proposed Parks
. Recently completed parks
. Transportation
. Approved transportation
. Recently completed transportation
. Interactive Map.

^^^ Overkill. Don't get me wrong. I actually applaud JDCRASH for doing it this way and think he did a great job so this isn't against him.

The current thread, you can scroll through in a couple of minutes to get the gist of what's going on. The old thread felt like it took hours just to get most of the pictures to load, and prayed they weren't attached to dead links or outdated information. And there are nearly hundreds of adaptive reuse projects going on around the city. Do we really need to post every single one?

Most major city threads focus points are under construction, approved, proposed. done. The old thread made it appear that we had a lot more going on than what we really did. (maybe because back then, we truly didn't have much going on compared to now ) aka clutter.

Also. I wasn't trying to be sarcastic or a jerk. Not sure why I deserved a sarcastic response

[caligrad]

Originally Posted by Wilcal

Perhaps there can be some special space reserved for adaptive reuse projects. I myself would like to be aware of them, and perhaps when I visit downtown see their progress.

I agree. I'm not against having somewhere for adaptive reuse and other projects. Just don't think its really needed on the front page. Maybe all of the Misc. projects deserve their own page.

Originally Posted by Wally West

I second this. I like seeing DTLA grow with its adaptive reuse projects.

I agree.

Originally Posted by Easy

How about another thread being that space? I prefer this one to be about ground up construction. But in the end whatever the OP wants to include is fine.

My thoughts exactly. I just felt like the old thread was like "we only have 2 projects under construction and 3-5 approved and proposed but look at the hundreds of adaptive reuse and other projects we have going on".

[Mojeda101]

I started working on the adaptive reuse but It got a bit out of hand as a few projects began to stall. There are some that don't even have renderings. I'm not sure how to go about it.

[cesar90]

Originally Posted by Wilcal

Good God! Now that you mention it, I hope that it wasn't his middle finger that I saw. No worries, the moderators for some reason have not heavily edited my posts--even with the truly vulgar language which I sometimes use for special effect.

Haha no middle finger, Sometimes shooting 4K becomes more easily noticeable for shakiness due to the amount of pixels moving. So it's leverage I need to apply on the edges of the camera, Now my fingers just came across, No intentions to show middle fingers.

[ladowntowner]

Is it just my imagination or did we have a WG crane jump in the last couple days? If so, I suppose we should start seeing some "sail" steel any day now...

[citywatch]

Downtown Los Angeles is in danger of becoming oversupplied: report



Downtown apartment vacancy and projected vacancy (credit: CoStar Market Analytics)


For a while, it seemed like a new luxury high-rise, complete with an obligatory infinity pool and sky-high rents, was announced in Downtown Los Angeles every week. Then came the cranes. Now, Downtown’s multifamily market risks becoming oversupplied, especially on the luxury end, Steve Basham, senior market analyst at CoStar Group, said in a recent report on the submarket.

The unprecedented rate of new construction has caused vacancies to rise and rental growth to slow, according to the report. Vacancy was a low 4.1 percent in 2013, but rose to 6.7 percent in 2014 and 6.9 percent in 2015. CoStar Market Analytics project that it will rise above 7 percent this year.

The rising vacancy is hardly deterring investors. More than 10 percent of inventory — more than 2,000 units — changed hands in the past four quarters.

“The revitalization of Downtown L.A. has been an encouraging post-recession story,” Basham said. “The question is whether the submarket can attract enough affluent renters to match the frenetic pace of development. An unprecedented number of units will deliver over the next two years, most of them high end. To keep fundamentals in check over this period, absorption will have to maintain its current lofty trajectory.”

DTLA absorbed most of the roughly 1,700 units that delivered over the past four quarters, a year-over-year demand increase of more than 10 percent. The new luxury buildings that opened in 2014 leased up quickly. The first phase of One Santa Fe in the Arts District, for example, delivered in August 2014 and leased about 35 units a month, according to the report. It is now almost fully occupied, and recently sold to Berkshire Group. The Financial District project 8th + Hope fully leased its 290 units, which delivered in August 2014, a year after completion.

However, 2015 was a rockier road, which “may provide evidence of increasing supply pressures at the top end of the market,” Basham said. The first phase of Geoffrey Palmer’s Da Vinci project, where asking rents average about $3.10 a square foot a month, delivered in May 2015 and was fully leased by the first quarter of 2016. Carmel Partner’s 700-unit Eighth & Grand project, however, was only about 25 percent occupied five months after opening.

“This [Eighth & Grand] development was highly anticipated as its ground floor is home to Downtown’s first Whole Foods, but the $3.65 [a square foot] average asking rents are near the top of the rent spectrum,” Basham said. “The dense concentration of luxury development Downtown is leading to increased competition for renters, and the resulting concessions will weigh on effective rent growth.”

At Eighth & Grand, tenants were offered the option of two months free rent or a year of free parking at the end of the first quarter. Similar concessions are a rarity in other pockets of the L.A. market. But then again, there isn’t another pocket of L.A. seeing as much construction of high-rent properties.

[ocman]

Originally Posted by citywatch

I don't know what incentive developers have to build apartments most residents can actually afford. And it seems that supply/demand doesn't have much effect on them in lowering the market price by more than $100. They just seem to hold out. Kind of like the housing crisis years back. Home sellers just held out with unrealistic prices.

[cargocultpants]

^^^
This is actually a great thing, since it'll mean rents will start stabilizing (at least for a bit.)