LOS ANGELES | Downtown Project Rundown 4.0

[LosAngelesSportsFan]

i think a Soon Shiong and Kroenke partnership makes a hell of a lot of sense. Soon Shiong can be the majority owner of the Kings and Galaxy, as well as add to his share of the Lakers, and Kroenke can own the stadium for his team. 2.5 billion from each of em and its a done deal lol

[DistrictDirt]

Originally Posted by LAofAnaheim

Y'all remember articles in the Neon Tommy how people complained about losing the Chevron? IMHO, the street corner looks much safer with a dense residential development like the Icon than the Chevron gas station. This is good development!

I helped build that website. Nice to know people actually read it!

[Illithid Dude]

http://la.eater.com/archives/2012/09/19/le_ka_debuts_downtown_with_a_mixed_american_menu.php

Le Ka has finally opened.

[StethJeff]

Surprised that people on this forum aren't more concerned about the AEG sale. They've had a great track record in DTLA for years now and any sale just seems to add uncertainty to all of their future plans. Are all of the financing deals with the city, Avenue of Angels, convention center, etc. all gonna be in place if a sale goes through?

[Illithid Dude]

Originally Posted by StethJeff

Surprised that people on this forum aren't more concerned about the AEG sale. They've had a great track record in DTLA for years now and any sale just seems to add uncertainty to all of their future plans. Are all of the financing deals with the city, Avenue of Angels, convention center, etc. all gonna be in place if a sale goes through?

Rumor has it that they are being bought by Soon-Shiong, the wealthiest man is Los Angeles, a man who also happens to have a interest in owning a sports franchise...

[BOYCOTT 90210]

Originally Posted by StethJeff

Surprised that people on this forum aren't more concerned about the AEG sale. They've had a great track record in DTLA for years now and any sale just seems to add uncertainty to all of their future plans. Are all of the financing deals with the city, Avenue of Angels, convention center, etc. all gonna be in place if a sale goes through?

You and all the other numnuts at City Hall. Listen to ID.

[citywatch]

Originally Posted by StethJeff

all gonna be in place if a sale goes through?

this turn of events reminds me of astani selling the property where his angelena proj is....or was....supposed to be built, & his saying the new owner will stick with his original plans & keep with the time schedule of breaking ground this yr. but no one is really sure if the new owner is gonna do exactly that. I'm guessing that what astani has claimed will happen is hardly a guarantee.

I thought the big deal with the current owner of AEG was that, unlike most ppl with big $$$, he was willing to pay for a new stadium. So if he's no longer in the picture & isn't willing to spend his money on that, then where will all the $$ come from to pay for the stadium?!

Just about any other stadium in the US has been funded with a mix of $$ from both the public...from govt...& from other sources.

something isn't adding up correctly here.

I hope this isn't a case of , cuz the old convention ctr is one of the fugliest bldgs in dt....so clearly visible to the zillions of ppl who drive past it on the fwy....so I'd happily see it torn down asap.

[pesto]

The sports sites are covering it heavily. Like with the Dodgers, Blackstone has been hired to establish the financial bona fides of buyers and work the price as high as possible; should take about a year. Soon-Shiong, the owners of Madison Sq. Garden, and several equity firms and media and entertainment companies have been mentioned. Could be quite a scramble among .001 percenters.

Farmer's Field had been very doubtful for some time due to the desire of Anschutz to control the team and control revenues. The NFL had already said explicitly that that wasn't going to fly. Now there is a chance to start over and see what terms an NFL team really wants for coming back to LA.

Others have noted that it puts Dodger Stadium back into serious play since that is where both the NFL and team owners want to go. Do I hear Magic and Mark chatting somewhere?

To say nothing of what changes are in strore for Staples, LA Live, the Kings and the Galaxy. Could be lots of new money and new ideas.

[202_Cyclist]

Sale of AEG throws curve into quest to bring NFL back to L.A.
Mayor Antonio Villaraigosa says planned football stadium remains on track. But officials say new owners could seek different financial agreements.

By David Zahniser and Kate Linthicum
Los Angeles Times
September 19, 2012

"The plan to sell entertainment behemoth Anschutz Entertainment Group has thrown a new curve in the two-decade quest to bring professional football back to Los Angeles, leaving some allies at City Hall blindsided and forcing Mayor Antonio Villaraigosa to explain why he did not divulge the information sooner.

Villaraigosa and other city leaders insisted Wednesday that AEG's plan to build a $1.2-billion football stadium in downtown L.A. is still on track, with the proposal expected to sail through the council next week.

The only potential hangup, officials said, is if new owners seek to change the complex and carefully negotiated financial agreements. The documents require AEG, owned by billionaire Philip Anschutz, to make up the difference if revenue from the stadium is not enough to cover the city's debt payments for the project, which includes a $315-million renovation of the convention center..."

http://www.latimes.com/news/local/la-me-aeg-stadium-20120920,0,6963983.story

[pesto]

Originally Posted by citywatch

this turn of events reminds me of astani selling the property where his angelena proj is....or was....supposed to be built, & his saying the new owner will stick with his original plans & keep with the time schedule of breaking ground this yr. but no one is really sure if the new owner is gonna do exactly that. I'm guessing that what astani has claimed will happen is hardly a guarantee.

I thought the big deal with the current owner of AEG was that, unlike most ppl with big $$$, he was willing to pay for a new stadium. So if he's no longer in the picture & isn't willing to spend his money on that, then where will all the $$ come from to pay for the stadium?!

Just about any other stadium in the US has been funded with a mix of $$ from both the public...from govt...& from other sources.

something isn't adding up correctly here.

I hope this isn't a case of , cuz the old convention ctr is one of the fugliest bldgs in dt....so clearly visible to the zillions of ppl who drive past it on the fwy....so I'd happily see it torn down asap.

It's actually a good reminder that AEG, Anschutz and Leiweke don't give a sh*t about LA; they are here to make money, and will leave if and when it becomes profitable to do so. If what they do is good for the city, it is only by coincidence of interests.

EDIT: As if on cue, this from Reuters today, regarding AEG's complete abandonment of the LA market: "When we started on this path 15 years ago with Anschutz, he made it very clear at the time that this is about an equity play," Leiweke added. "He is not a man that has a huge ego. This has never been about toys; this has always been about business."

[Valyrian Steel]

The Wilshire Grand, from AC Martin's facebook page.



I hope the end result will be different in that the top doesn't look like a mohawk.

[112597jorge]

Originally Posted by Pink Floyd

The Wilshire Grand, from AC Martin's facebook page.



I hope the end result will be different in that the top doesn't look like a mohawk.

that render absolutely shrinks all the 200 meter buildings surrounding it, i hope it is significantly taller than the US Bank Tower.

[pesto]

My thought as well; it looks huge in that render. Can't tell about the mohawk; are they trying for an homage to streamline moderne? Probably going to change a bit in the next few years.

[LosAngelesDreamin]

Originally Posted by Pink Floyd

The Wilshire Grand, from AC Martin's facebook page.



I hope the end result will be different in that the top doesn't look like a mohawk.

oooooo me likey!!.. theres a spire!! also like how the skyscraper looks like it has a few layers over it

[citywatch]

this pending sale in ownership makes things very volatile right now. I thought the only reason the new stadium was even somewhat possible was due to the current owner of AEG having a special commitment to....& interest in....building it next to LA live. So if he's no longer in the picture, will anyone else necessarily be as willing to put down his own $$$ for such a proj?

A buyer would need "blood, sweat, and tears" to complete the NFL downtown football stadium deal, believes Anschutz Entertainment Group CEO and president Tim Leiweke.

In an interview this week, Leiweke, who has spent more than two years trying to lure the NFL back to L.A., talked frankly about the future of the downtown football stadium in light of Anschutz Company's decision to list the company for sale.

While a football stadium would provide an economic boom to L.A. Live - also owned by AEG - the amount of money needed to complete the stadium is substantial, Leiweke acknowledged. "The new owner of (AEG) is going to have to put real capital in this," Leiweke said of the stadium project. "...I think it is going to require capital risk, and blood, sweat and tears."

Both Leiweke and Mayor Antonio Villaraigosa insist that Anschutz has promised them both that football will come back to L.A., despite the sale. "Anschutz is committed that the new owners will come in with the resources to finish off Farmers Field and get a team," Leiweke said.

But some past predictions by Leiweke, including his belief that Farmers Field would break ground by summer 2012, haven't come true.

I've long been interested in this proj, if only cuz it would add another layer of energy to that part of dt, esp by replacing the convention ctr with something....hopefully....more attractive & help bring in more ppl to the hood. A super bowl held in dtla would definitely add to the area's reactivation & sense of it coming into its own. it would also provide great publicity for the hood.

I don't believe most other events from staples or Nokia that are shown on TV....such as this weekend's emmy awards....are as immediately, closely associated with dt....they don't have things like aerial shots of dt taken from a blimp or articles that mention how such events interact with the surrounding area.

I know this yr's super bowl in Indianapolis had writers actually saying it was helped by being in that city's dt, & not way off in the burbs, as where many stadiums are located. The head of the NFL said a few days ago that one advantage of the farmers field proposal is that it would be in a setting where ppl can walk around....& not just end up in huge parking lots.

[LAofAnaheim]

Originally Posted by citywatch

this pending sale in ownership makes things very volatile right now. I thought the only reason the new stadium was even somewhat possible was due to the current owner of AEG having a special commitment to....& interest in....building it next to LA live. So if he's no longer in the picture, will anyone else necessarily be as willing to put down his own $$$ for such a proj?



I've long been interested in this proj, if only cuz it would add another layer of energy to that part of dt, esp by replacing the convention ctr with something....hopefully....more attractive & help bring in more ppl to the hood. A super bowl held in dtla would definitely add to the area's reactivation & sense of it coming into its own. it would also provide great publicity for the hood.

I don't believe most other events from staples or Nokia that are shown on TV....such as this weekend's emmy awards....are as immediately, closely associated with dt....they don't have things like aerial shots of dt taken from a blimp or articles that mention how such events interact with the surrounding area.

I know this yr's super bowl in Indianapolis had writers actually saying it was helped by being in that city's dt, & not way off in the burbs, as where many stadiums are located. The head of the NFL said a few days ago that one advantage of the farmers field proposal is that it would be in a setting where ppl can walk around....& not just end up in huge parking lots.

citywatch, as a resident of South Park, there is great excitement for this project to go through because it will build more excitement for the area, however, I have to digress with your points about the impact pedestrian activity can have more than our existing Staples Center, Nokia Theater, etc...

Football stadiums are active a guaranteed 8 days a year. That's it. We can only hope for more events outside of those 8 days. And, to top it off, its usually a Sunday morning/afternoon, when pedestrian activity is light; maybe one Monday or Thursday game a year.

Staples/Nokia have activity over 200 dates a year and pedestrian activity is more common with sports arenas and theaters than football stadiums. Look at football stadiums around the country and you'll see it sit dormant and empty mostly all year; that's unlike stadiums.

If you watch Laker/Clippers/Kings games, you'll see blimps in the neighborhood promoting downtown (ever watch the after Laker game talk shows, they're in LA Live!). Superbowl is an EXTRAORDINARY event and will only happen once every 20 years, at best in a city. Don't consider that the norm of what a football stadium can do for LA, that's the exception........an exception that happens ONCE year 20 years. Not a good benchmark to see how Farmers Field will impact downtown.

[blackcat23]

Since Anschutz intends to sell AEG as a whole, rather than parceling off it's assets individually, there would be incentive for the buyer to move forward with the existing projects

LA Live still isn't profitable at this point, if what I've read is correct. Building the stadium, expanding the convention center and developing Francisco street would help drive more people into the complex.

[citywatch]

Originally Posted by LAofAnaheim

If you watch Laker/Clippers/Kings games, you'll see blimps in the neighborhood promoting downtown (ever watch the after Laker game talk shows, they're in LA Live!). Superbowl is an EXTRAORDINARY event and will only happen once every 20 years, at best in a city. Don't consider that the norm of what a football stadium can do for LA, that's the exception........an exception that happens ONCE year 20 years. Not a good benchmark to see how Farmers Field will impact downtown.

laofanaheim, I was referring to non sporting events that are held at lalive, since they're treated in a different way. for instance, when a show like american idol holds its season finales at nokia, one wouldn't really know they were necessarily even in dt or even LA.

for some reason, broadcasts of sport events often like to include overhead aerial views of where they're taking place.

as for once every 20 yrs, I'd hope that wouldn't be true of LA. It's basically the cities that are kind of cold & blah in january that....even though they do have a local football team....don't get many chances to host the super bowl more than once every 20 yrs or so. but I just now realize.....OMG!.....that it is coming close to 20 yrs since that event was last held in LA. One reason that I guess many cities out there will be quite happy if a new stadium....& presumably a team that would go with it....isn't built here.

Fifteen different regions have hosted, or are scheduled to host, Super Bowls.

Miami Area: 1968, 1969, 1971, 1976, 1979, 1989, 1995, 1999, 2007, 2010

New Orleans: 1970, 1972, 1975, 1978, 1981, 1986, 1990, 1997, 2002, 2013

Greater Los Angeles Area: 1967, 1973, 1977, 1980, 1983, 1987, 1993

[pesto]

Originally Posted by blackcat23

Since Anschutz intends to sell AEG as a whole, rather than parceling off it's assets individually, there would be incentive for the buyer to move forward with the existing projects

LA Live still isn't profitable at this point, if what I've read is correct. Building the stadium, expanding the convention center and developing Francisco street would help drive more people into the complex.

Once it's sold, the new buyer is at liberty to sell off the pieces and close down the ones that he doesn't believe have enough profit potential. I can't imagine any buyer who would give up that right.

[RuFFy]

LA Live has striking similarities to another local project that got off to a bad start. H&H Center under it's developer Trizec Properties was kinda crappy. Sold to CIM at a loss a few years later H&H bounced back. Of course there were numerous factors that came together to reach greater success and it didn't happen over night. LA Live is on that boat, IMO.