LOS ANGELES | Downtown Project Rundown 6.0

[Blesha13]

Totally agree with CaliNative. LA definitely needs to go "turbo" one last time before the cycle winds down and at the center stage next decade. Now if we can get 333 S Figueroa and other towers built before the 2026 World Cup.

[caligrad]

Originally Posted by BillinGlendaleCA

The original piece was talking about home prices(aka, home ownership), rental properties get different tax treatment.

Right and that was a response to everyone. Some said "construction will stop because home sells are declining" without actually taking note as to what was happening and why. Then you said "Well there's changes in the federal income tax laws, so factor that in too, it will get more expensive"... Ok STILL the sky is NOT falling. Home prices have doubled if not tripled since the 80s/90s and yet people are STILL buying homes, aka, we are in a housing shortage with not enough to go around, reason why sells are declining, not enough inventory for potential buyers. If people want/have the means to buy a home, they will find a way to get one. My parents bought a house in the Signal Hill area near Long Beach back in 98, they paid 189k for it. Today that same house is worth 768k. They plan on selling and moving to Texas, they already have 3 solid potential buyers.

At the end of the day, to fix ALL of these problems with inventory and pricing and etc. The only solution is to BUILD MORE HOUSING.

[BillinGlendaleCA]

Originally Posted by caligrad

Right and that was a response to everyone. Some said "construction will stop because home sells are declining" without actually taking note as to what was happening and why. Then you said "Well there's changes in the federal income tax laws, so factor that in too, it will get more expensive"... Ok STILL the sky is NOT falling. Home prices have doubled if not tripled since the 80s/90s and yet people are STILL buying homes, aka, we are in a housing shortage with not enough to go around, reason why sells are declining, not enough inventory for potential buyers. If people want/have the means to buy a home, they will find a way to get one. My parents bought a house in the Signal Hill area near Long Beach back in 98, they paid 189k for it. Today that same house is worth 768k. They plan on selling and moving to Texas, they already have 3 solid potential buyers.

At the end of the day, to fix ALL of these problems with inventory and pricing and etc. The only solution is to BUILD MORE HOUSING.

(Puts on old and tarnished Econ Hat)
Constrained supply will lead to higher prices and can cause sales to decrease to achieve a market clearing price. We have regular churn in the housing stock and we add supply(though not enough). What we have, at least in a segment of the market is that government via tax policy has raised the cost of home ownership(shifted the supply curve up) which will cause decreased sales to get to a market clearing price. Now what builders can do is shift from the "mid-range" market to the lower end or the higher end that won't be affected by the changes in government policy. The interesting question, and it's been raised here, is whether builders can financially make that shift.

[LosAngelesBeauty]

Both Sweetgreen, Paris Baguette Now Open at 8th/Hill in Downtown LA

http://brighamyen.com/2018/07/29/bot...n-downtown-la/

[IMBY]

Originally Posted by Blesha13

Totally agree with CaliNative. LA definitely needs to go "turbo" one last time before the cycle winds down and at the center stage next decade. Now if we can get 333 S Figueroa and other towers built before the 2026 World Cup.

With the backlog of housing needed in L.A. there should be 50 cranes in the air at this time, but I'm just happy for the "little" that's getting built.

[scania]

Originally Posted by LosAngelesBeauty

Both Sweetgreen, Paris Baguette Now Open at 8th/Hill in Downtown LA

http://brighamyen.com/2018/07/29/bot...n-downtown-la/

This is great for the area...really adds to the pedestrian experience.

[Blesha13]

Originally Posted by IMBY

With the backlog of housing needed in L.A. there should be 50 cranes in the air at this time, but I'm just happy for the "little" that's getting built.

Which "little" tower is getting built?

[colemonkee]

Let's keep it on topic, people. PLENTY of development happening right now in DTLA you can talk about, even if the groundbreaking news is slow.

[Wilcal]

Originally Posted by colemonkee

Let's keep it on topic, people. PLENTY of development happening right now in DTLA you can talk about, even if the groundbreaking news is slow.

How about a photo update to relieve the monotony. Hunter et. al...kids, do your magic!

Much obliged.

[Wilcal]

[QUOTE=LosAngelesBeauty;8266177]

Originally Posted by scania

This is great for the area...really adds to the pedestrian experience.

A few planters and street benches would be great.

[LosAngelesSportsFan]

[QUOTE=Wilcal;8269185]

Originally Posted by LosAngelesBeauty

A few planters and street benches would be great.

I live a block away.. With Coconuts, Shake Shack, Paris, Sweetgreen, Freehand and CVS all opening over the last 6 months, this entire stretch has evolved dramatically. Cassells should be opening soon and Starbucks and Tenaya at Atelier are starting their build outs.

[CaliNative]

Originally Posted by Wilcal

How about a photo update to relieve the monotony. Hunter et. al...kids, do your magic!

Much obliged.

I second that. The photo updates are much treasured for those of us who don't make it to DTLA very often.

[Wilcal]

Originally Posted by CaliNative

I second that. The photo updates are much treasured for those of us who don't make it to DTLA very often.

Especially those of us stuck in Yucaipa (yuck!)

[WonderlandPark2]

Originally Posted by Wilcal

Especially those of us stuck in Yucaipa (yuck!)

A few from a weekish ago:

[citywatch]

^ thanks for the pics.

Apple premieres plans for store and event space in historic downtown L.A. theater


Robert Goulrey / Los Angeles Times

By Roger Vincent
Aug 02, 2018

The Tower Theatre was the place in 1927 where Angelenos first heard the wonder of “talkie” movies when it hosted the premiere of “The Jazz Singer,” starring Al Jolson. Now, the aging former movie palace in the Broadway Theater District will host a more modern “wonder” — an Apple store the tech giant says will be one of the world’s most prominent. It may also serve as a declaration that Apple intends to compete as a major Hollywood content creator.


Robert Goulrey / Los Angeles Times



Apple’s forthcoming takeover of the theater was long expected, but the company is only now revealing details of the transformation planned for the cinema, which has been mostly closed for decades.

The theater was one of the first air-conditioned buildings in the city and originally sported windows on the underground level that patrons could look through to marvel at the cutting-edge cooling equipment.

Apple has more than 500 stores, but it envisions making the downtown Los Angeles location something special.

The 1.1-million-square-foot Broadway Trade Center across the street from the Tower is being redeveloped into an office, hotel and retail complex. Neighbors include historic Clifton’s Cafeteria and Urban Outfitters, which occupies the former Rialto Theatre. Next door to the Tower, shoemaker Vans will open an outpost early next year in a former music store that was erected in 1930 and will have high-end residences upstairs, broker Andrew Turf of CBRE said.

[caligrad]

Great news about the Apple store. Just proves that insider knowledge isn't always accurate

This will be great for Broadway, we'll see more retailers flocking to the area just to be near an Apple Store. Are there any big spaces left on Broadway ?

Also. Driving north on the 110 from the south bay...Once you hit that turn near USC where downtown is centered in your view, all the new additions are making downtown look massive. , I barely recognized it. I can only imagine how it will look once that cluster of towers near the USC tower are built.

[scania]

Originally Posted by caligrad

Great news about the Apple store. Just proves that insider knowledge isn't always accurate


This will be great for Broadway, we'll see more retailers flocking to the area just to be near an Apple Store. Are there any big spaces left on Broadway ?

Also. Driving north on the 110 from the south bay...Once the turn happens near USC and the downtown is centered in your view. All the new additions are making downtown look massive. , I barely recognized it. I can only imagine how it will look once that cluster of towers near the USC tower are built.

Its amazing what two years have done to the skyline...if you take 4th St. from the 101 Freeway and drive in, its incredible! It so different than it was a few years ago.

[saybanana]

Apple Store Downtown is going to become a destination store/tourist attraction of sorts. I went looking at best apple locations and while most of them have the glass box modern design, this use of a historic building and classical interior will be very unique.

[CaliNative]

Originally Posted by Wilcal

Especially those of us stuck in Yucaipa (yuck!)

Yucaipa not so bad--apple country and mountains. Better than Beaumont.

[Quixote]

Originally Posted by saybanana

Apple Store Downtown is going to become a destination store/tourist attraction of sorts. I went looking at best apple locations and while most of them have the glass box modern design, this use of a historic building and classical interior will be very unique.

Agreed! I can't wait to see how they restore the exterior façade too. This being a flagship store (prominent location and unique space), I fully expect Apple to spare no expense or effort.