LOS ANGELES | Downtown Project Rundown 6.0

[ChargerCarl]

Expect Chinese investment to slow:

https://www.bloomberg.com/news/articles/...estate-buyers-are-suddenly-short-on-cash

[Doctorboffin]

How much of a slow down should we expect? Should we worry about cancellation of Olympia and Onni's projects? Or should we just expect less, and if so how much less?

[ChargerCarl]

Originally Posted by Doctorboffin

How much of a slow down should we expect? Should we worry about cancellation of Olympia and Onni's projects? Or should we just expect less, and if so how much less?

Honestly no idea. I think people tend to overestimate Chinese investment in their communities as its an easy NIMBY scapegoat (except for Vancouver), but I would expect a marginal reduction in the next few years I suppose.

Definitely no cancellation of current projects though.

[bobcat]

The problem with Chinese foreign investment seems to be with individuals trying to sneak money out of the country by buying homes in foreign countries. Chinese institutional investors are in a different category, although they too can be affected if they are building condo projects targeted mostly at foreign buyers.

[Mojeda101]

Originally Posted by Doctorboffin

How much of a slow down should we expect? Should we worry about cancellation of Olympia and Onni's projects? Or should we just expect less, and if so how much less?

Onni is Canadian so those might not be affected(I hope).

[LosAngelesSportsFan]

Originally Posted by bobcat

The problem with Chinese foreign investment seems to be with individuals trying to sneak money out of the country by buying homes in foreign countries. Chinese institutional investors are in a different category, although they too can be affected if they are building condo projects targeted mostly at foreign buyers.

This is the correct response

[user2468]

South Park update, more coming later today.

1200 S. Figueroa Street (Circa) #1 - 1/26/2017 by Juan Gomez, on Flickr

1200 S. Figueroa Street (Circa) #2 - 1/26/2017 by Juan Gomez, on Flickr

1200 S. Figueroa Street (Circa) #3 - 1/26/2017 by Juan Gomez, on Flickr

1101 S. Flower Street (Oceanwide Plaza) #1 - 1/26/2017 by Juan Gomez, on Flickr

1101 S. Flower Street (Oceanwide Plaza) #2 - 1/26/2017 by Juan Gomez, on Flickr

1101 S. Flower Street (Oceanwide Plaza) #3 - 1/26/2017 by Juan Gomez, on Flickr

1101 S. Flower Street (Oceanwide Plaza) 4 - 1/26/2017 by Juan Gomez, on Flickr

1101 S. Flower Street (Oceanwide Plaza) and 1200 S. Figueroa Street (Circa) - 1/26/2017 by Juan Gomez, on Flickr

[black_crow]

Originally Posted by ChargerCarl

Expect Chinese investment to slow:

https://www.bloomberg.com/news/articles/...estate-buyers-are-suddenly-short-on-cash

That's actually a good thing.

The problem with projects like Metropolis is that they sell a big amount of their units to buyers from China.
Many of those people don't even travel to Los Angeles. They just buy property because it's a good investment.
That doesn't help us with our housing crisis. I am sure that City Century LLC will build Olympia (starting in 2018) and they have a very different approach.

I actually like the fact that companies like the Onni Group are doing so well.
That are the companies that I want to see. Chinese companies won't slow down, but they will have to change the way they sell...

China has a 6.8% GDP growth target, but there are long-term financial risks for construction companies. So they will continue to invest in hot and safe markets like the one in Los Angeles.

http://www.cnbc.com/2017/01/25/china-is-...isky-because-of-its-economy-analyst.html

Still.. I can ensure (as matters now stand) that they won't continue to sell luxury condos until 2030.

[citywatch]

Originally Posted by ChargerCarl

Ehh, beggars can't be choosers. DTLA isn't SF, Chi, or Manhattan. It's not even the most desirable office or residential market in the region. What we really need is more pedestrian friendly infill, not statement pieces. We still have a long ways to go.

I mean people hate on the architecture of the Vegas strip all the time, but it's high concentration of amenities makes it a great place to be a pedestrian.

Function is much more important than form.

beyond that, I notice when I see a new proposed devlpt, my immediate reaction is not necessarily to judge it based on the quality of its design, but to judge it based on whether it's likely to break ground within the next 100 yrs or less.

I'll never forget what happened with the original park fifth proj, so....



^ even more so when I'm still waiting for the long announced barry shy apt towers on Main st & broadway to start work....or the towers at 4th & Hill & 4th & broadway to be under construction.

in the meantime, I'm relieved the long rundown corner of olympic & olive is finally seeing some improvement. On one side a new apt bldg & on the other the renovation of the former tire store into the new Mikkeller Bar....



DTLAexplorer.com


la.eater.com


la.eater.com


la.eater.com


^ I still think the somewhat newer ywca bldg that looms to the south over the Mikkeller Bar really does have the worst architecture of any bldg in dtla, by far. It reminds me of the type of bldg found in a smaller midwestern city.

[colemonkee]

That's Mikkeller Bar, which was designed by my friends at Raveled Studio. They're the shiznit. Also designed Wendell on Main.

[202_Cyclist]

Originally Posted by colemonkee

That's Mikkeller Bar, which was designed by my friends at Raveled Studio. They're the shiznit. Also designed Wendell on Main.

Your friends have some talent. That is a stunning building!

[LA/OCman]

Originally Posted by colemonkee

That's Mikkeller Bar, which was designed by my friends at Raveled Studio. They're the shiznit. Also designed Wendell on Main.

Hard to believe it was that God awful tire store that was boarded up for so many years. It has to be one of my favorite remodels I have seen in Downtown. Can't wait to try a brew there.

[bighomey3000]

Where are all the Arts District projects? Chinatown? City West? The 10 southwards to USC?

[Illithid Dude]

I honestly really like all the one story brick buildings downtown. They add character, and are great opportunities for pedestrian oriented adaptive reuse such as the bar posted above. They give downtown a pedestrian scale that the new swath of highrises can't seem to match.

[Wilcal]

Originally Posted by Illithid Dude

I honestly really like all the one story brick buildings downtown. They add character, and are great opportunities for pedestrian oriented adaptive reuse such as the bar posted above. They give downtown a pedestrian scale that the new swath of highrises can't seem to match.

My thoughts exactly. There are many very charming buildings (but some outright junk) which can be renovated to function as retail or commercial uses. All of these would add to the mix of old and new Southpark. But, once the parking lots or vacant lots are developed these structures will be endangered. I don't know if the city can or should do something to help preserve them. One may ask why bother and the answer is that they do give the area a sense of history and of place. Without them, Southpark, save for the larger more historic buildings on the corner of Broadway and 11th, for the most part would look like a new and rather sterile area

[user2468]

Part 2 of Thursday's DTLA visit.

1120 S. Grand Avenue #1 - 1/26/2017 by Juan Gomez, on Flickr

1120 S. Grand Avenue #2 - 1/26/2017 by Juan Gomez, on Flickr

1100 S. Hill Street #1 - 1/26/2017 by Juan Gomez, on Flickr

1100 S. Hill Street #2 - 1/26/2017 by Juan Gomez, on Flickr

110 W. 11th Street (Harris Building, foreground) & 1106 S. Broadway (Proper Hotel, background) - 1/26/2017 by Juan Gomez, on Flickr

938 S. Broadway (Broadway Palace Phase II) #1 - 1/26/2017 by Juan Gomez, on Flickr

938 S. Broadway (Broadway Palace Phase II) #2 - 1/26/2017 by Juan Gomez, on Flickr

938 S. Broadway (Broadway Palace Phase II) #3 - 1/26/2017 by Juan Gomez, on Flickr

938 S. Broadway (Broadway Palace Phase II) #4 - 1/26/2017 by Juan Gomez, on Flickr

938 S. Broadway (Broadway Palace Phase II) #5 - 1/26/2017 by Juan Gomez, on Flickr

801 S. Olive Street (Atelier) #1 - 1/26/2017 by Juan Gomez, on Flickr

801 S. Olive Street (Atelier) #2 - 1/26/2017 by Juan Gomez, on Flickr

820 S. Olive Street - 1/26/2017 by Juan Gomez, on Flickr

[Quixote]

^ Appreciate the updates, Juan.

Here's something sort of neat and new... 360°, virtual reality views of the two towers going up on Spring Street:

http://www.mve-architects.com/connect/vr/

[CaliNative]

For example, Metropolis seems to move fast, while Oceanwide & 820 S. Olive move fairly sedately. Does Metro. have more workers & resources? Oceanwide & Olive are barely 5 stories up, while the 58 story tower at Metro. is already almost up to the 40 story level in the same time.

[Mojeda101]

Originally Posted by CaliNative

For example, Metropolis seems to move fast, while Oceanwide & 820 S. Olive move fairly sedately. Does Metro. have more workers & resources? Oceanwide & Olive are barely 5 stories up, while the 58 story tower at Metro. is already almost up to the 40 story level in the same time.

To be fair Metropolis took a LONG time when they were just a pit and it start much earlier than either project. I mean they're STILL working on their podium in the back. Podiums and parking levels typically take much longer to build. Once they reach the actual tower portion it shoots up much faster since the floorplan is consistent to the next floor and it has a much smaller footprint. Expect 820 and Oceanwide to shoot up just like Circa and Metropolis after the 8th floor.

Edit: Took a few photos of downtown last night.

DSC_8393 by mojeda101, on Flickr

I really like the lighting of Broadway Palace. I can't wait to see the blade signs lit up along with the 10 story portions lights. Imagine how well lit South Broadway will be with the blade signs and facade lighting from May Co to compliment it.

DSC_8410 by mojeda101, on Flickr

Cranes everywhere.

DSC_8433 by mojeda101, on Flickr

DSC_8429 by mojeda101, on Flickr

[Resident]

Originally Posted by Mojeda101

To be fair Metropolis took a LONG time when they were just a pit and it start much earlier than either project.

Maaannnnn... I remember when Metropolis was a pit and a certain Architectural photographer and Trump supporter both were saying that it was a dead project.