LOS ANGELES | Downtown Project Rundown 6.0 - Page 406

LosAngelesBeauty · #**8101** Posted **Jan 24, 2019, 7:31 PM**

HUGE for DTLA!!

Global designer Paul Smith opening store on Broadway in DTLA

https://brighamyen.com/2019/01/24/designer-paul-smith-heading-to-broadway-in-downtown-la/

scania · #**8102** Posted **Jan 24, 2019, 7:46 PM**

Quote:

Originally Posted by LosAngelesBeauty

HUGE for DTLA!!

Global designer Paul Smith opening store on Broadway in DTLA

https://brighamyen.com/2019/01/24/designer-paul-smith-heading-to-broadway-in-downtown-la/

Awesome!

Jun · #**8103** Posted **Jan 25, 2019, 1:38 AM**

Drove by Circa earlier, looks like fencing has gone up around the old Hooters and adjacent parking lot.

scania · #**8104** Posted **Jan 25, 2019, 2:08 AM**

Quote:

Originally Posted by Jun

Drove by Circa earlier, looks like fencing has gone up around the old Hooters and adjacent parking lot.

Yes...I noticed that last week.

BillinGlendaleCA · #**8105** Posted **Jan 25, 2019, 4:19 AM**

Downtown from the Baldwin Hills Tuesday afternoon:

_1220059-HDR.jpg by BillinGlendaleCA, on Flickr

colemonkee · #**8106** Posted **Jan 25, 2019, 3:39 PM**

^ GREAT shot!

ChelseaFC · #**8107** Posted **Jan 25, 2019, 4:14 PM**

Quote:

Originally Posted by Jun

Drove by Circa earlier, looks like fencing has gone up around the old Hooters and adjacent parking lot.

From Facebook:

LAsam · #**8108** Posted **Jan 25, 2019, 4:44 PM**

Great news about the former Hooters site (Fig + Pico)! Looks like our next big project is imminent. I figured this had a good chance to happen given its progress on approvals and the fact that it is being developed by Lightstone, a US developer. I'm sure their original budget has taken a hit though due to the steel tariffs... hopefully they don't value engineer any of the design to compensate!

Quixote · #**8109** Posted **Jan 25, 2019, 5:15 PM**

Quote:

Originally Posted by BillinGlendaleCA

Downtown from the Baldwin Hills Tuesday afternoon:

Stunning. I’d say of the handful of major US cities with a mountain backdrop, only Anchorage and Salt Lake City are definitively more impressive. Seattle (Rainier and Olympus), Denver (Rockies), and Portland (St. Helens and Hood) are up there too and have mountain ranges and peaks more majestic than the San Gabriels, but they’re farther away from their cities’ respective cores.

LAsam · #**8110** Posted **Jan 25, 2019, 6:22 PM**

Article in the LA Times today about Oceanwide being on pause due to financing issues. Article quotes developer as stating things should pick back up mid-February... fingers crossed that's true!

CastleScott · #**8111** Posted **Jan 25, 2019, 6:33 PM**

Quote:

Stunning. I’d say of the handful of major US cities with a mountain backdrop, only Anchorage and Salt Lake City are definitively more impressive. Seattle (Rainier and Olympus), Denver (Rockies), and Portland (St. Helens and Hood) are up there too and have mountain ranges and peaks more majestic than the San Gabriels, but they’re farther away from their cities’ respective cores.

Phenomenally Stunning indeed! As a Denver native its downtown is roughly 45-55 miles from the snow capped Continental Divide.

ConstructDTLA · #**8112** Posted **Jan 25, 2019, 9:02 PM**

2 things:

1: The walled off lot at Pico+Fig is not for construction, they put the walls up so they can display ads. The project is not imminent.

2: Nobody could have seen this coming:

Quote:

Construction halts on $1-billion mixed-use complex in downtown L.A.

https://www.latimes.com/business/la-fi-o...2fnFwFln5Ps5JeriEzb34mjVzNzw-8ANwYoseqsk

Construction on Oceanwide Plaza, one of the biggest real estate development projects in downtown Los Angeles, has stalled in what may be a shortfall in financing from the project’s Chinese owner.
The condominium, hotel and retail complex across the street from Staples Center is expected to cost more than $1 billion and be a key part of the flashy entertainment, hotel and residential district emerging along Figueroa Street.

The plaza is being built by Oceanwide Holdings, a Beijing-based publicly traded conglomerate that reported revenue of $2.37 billion in 2017. The company said in a statement Thursday that the hold-up is due to a recapitalization of the project and that work will resume by the middle of next month.

Any halt of a Chinese-backed real estate project, however, is bound to raise concerns that it may be related to Chinese government policies restricting the flow of money out of the country. The policies, put in place in 2016, sent shock waves through real estate circles because China has become a major investor and developer in the U.S.

The shutdown also comes at a time when the FBI is conducting a corruption probe at City Hall that is investigating possible kickbacks and other crimes that might involve foreign real estate developers with downtown building projects.

The projects current budget is actually closer to $2B than $1B.

CaliNative · #**8113** Posted **Jan 25, 2019, 10:18 PM**

Quote:

Originally Posted by LAsam

Article in the LA Times today about Oceanwide being on pause due to financing issues. Article quotes developer as stating things should pick back up mid-February... fingers crossed that's true!

I read the article too. Since the project is topped ot and even some of the interior work is done, it will almost certainly secure funds to be completed, whether it is from the Chinese group or someone else. Is the same company building the Oceanwide project in San Francisco?

SoCalKid · #**8114** Posted **Jan 25, 2019, 11:59 PM**

Quote:

Originally Posted by ConstructDTLA

1: The walled off lot at Pico+Fig is not for construction, they put the walls up so they can display ads. The project is not imminent.

That would be interesting if it were true! But it's not.

Here's the link to the demo permit that is in process. Note the bold writing stating "FENCE & CANOPY REQUIRED". The walls are up so they can begin demo. Granted, they'll likely put up ads as well.

https://www.ladbsservices2.lacity.org/On...rmitDetail?id1=18019&id2=10000&id3=02387

LAsam · #**8115** Posted **Jan 25, 2019, 11:59 PM**

Quote:

Originally Posted by CaliNative

I read the article too. Since the project is topped ot and even some of the interior work is done, it will almost certainly secure funds to be completed, whether it is from the Chinese group or someone else. Is the same company building the Oceanwide project in San Francisco?

My understanding is that the developer, Oceanwide, is one and the same. That's not to say both projects are financed by the same lenders, Partners, etc...

ChelseaFC · #**8116** Posted **Jan 26, 2019, 12:02 AM**

Quote:

Originally Posted by socalkid

that would be interesting if it were true! But it's not.

Here's the link to the demo permit that is in process.

lol.

ConstructDTLA · #**8117** Posted **Jan 26, 2019, 12:19 AM**

Quote:

Originally Posted by SoCalKid

That would be interesting if it were true! But it's not.

Here's the link to the demo permit that is in process. Note the bold writing stating "FENCE & CANOPY REQUIRED". The walls are up so they can begin demo. Granted, they'll likely put up ads as well.

https://www.ladbsservices2.lacity.org/On...rmitDetail?id1=18019&id2=10000&id3=02387

Quote:

Originally Posted by ChelseaFC

lol.

What did I say that wasn't true? Yes, demo permits for the Hooters were issued months ago. The wall for ads + the extra surface parking is a smart move near-term with how much parking has disappeared in the area.

Do you have a link for the building/construction permit? Take your time, no rush.

CaliNative · #**8118** Posted **Jan 26, 2019, 8:26 AM**

Quote:

Originally Posted by Quixote

Stunning. I’d say of the handful of major US cities with a mountain backdrop, only Anchorage and Salt Lake City are definitively more impressive. Seattle (Rainier and Olympus), Denver (Rockies), and Portland (St. Helens and Hood) are up there too and have mountain ranges and peaks more majestic than the San Gabriels, but they’re farther away from their cities’ respective cores.

I agree--DTLA has an amazing, lovely snowy mountain backdrop on a clear winter day. Equally amazing view the other way, from the top of Mt. Wilson looking down. What a view on a clear day! In Europe, Chamonix is my favorite, with Mt. Blanc looming a few miles away.

CaliNative · #**8119** Posted **Jan 26, 2019, 8:32 AM**

Quote:

Originally Posted by CastleScott

Phenomenally Stunning indeed! As a Denver native its downtown is roughly 45-55 miles from the snow capped Continental Divide.

Mt, Baldy is maybe 30-40 miles from DTLA, so there is a telephoto lens assist to the stunning photo. Still definitely a postcard photo.

CaliNative · #**8120** Posted **Jan 26, 2019, 8:38 AM**

Hopefully Oceanwide can get the funding going. At the north end of the Vegas strip, there was a huge unfinished hotel tower that has set for 10 years since the 2008 financial crisis rusting. I think work has resumed on it. Hoperfully back in gear at Oceanwide in Feb. like the article in the Times Friday said. I am hopeful. The exterior is almost finished. It will be completed. There still is a housing shortage.