LOS ANGELES | Downtown Project Rundown 3.0 - Page 52

Echo Park · #1 Posted **Aug 4, 2007, 12:43 AM**

The renovation of Broadway marches northward!

Quixote · #2 Posted **Aug 4, 2007, 1:07 AM**

I pray they find a theater company to occupy the Tower Theater. Hopefully the other theaters would eventually follow suit, creating a vibrant theater district.

Tanster · #3 Posted **Aug 4, 2007, 1:29 AM**

Cant the city do something about the Theaters?

Sodha · #4 Posted **Aug 4, 2007, 6:28 AM**

I just walked by 5th & Olive at 8 pm and they just put up a huge ad for Park 5th on the street corner. It looks awesome. "Downtown is looking up" is the theme. Whoever this developer is, this person cares about downtown. Check it out! Hopefully this becomes a reality!

fridayinla · #5 Posted **Aug 4, 2007, 6:53 AM**

Ralphs on the Market As CIM Looks Up

News Brief

Given the recent lauded opening of the new Ralphs supermarket at Ninth and Flower streets, it may seem unusual that developer CIM Group is selling off the retail anchoring its Market Lofts project. CIM recently listed the 55,979-square-foot component along with its 133-car parking garage with CB Richard Ellis. According to the real estate firm, CIM, which developed the project with Lee Homes, had always planned to sell the retail once it opened to maximize its investment. Ralphs, which occupies 50,000 square feet at the site, currently holds a 20-year lease. The remaining ground floor is leased to Cold Stone Creamery, Quiznos and FedEx Kinkos.

At the same time, CIM has reworked plans for a mixed-use project near the market to make two buildings substantially taller and denser. The Community Redevelopment Agency held a hearing on the development's draft environmental impact report last week. One building north of the market, originally set at six stories, is now anticipated to climb 22 stories; the other, just east of Ralphs and planned as 13 stories, would be 42 stories. The effort would create nearly 1,300 new residential units and more than 2,700 parking spaces. "We've been planning this for quite a while," said John Given, a principal with CIM Group. "It's all pretty consistent with our plans for South Village." According to Given, the smaller tower at Eighth and Hope streets could break ground next year. The project would join other high-rises by Sonny Astani and Meruelo Maddux currently under construction in the area.

Echo Park · #6 Posted **Aug 4, 2007, 4:12 PM**

^Awesome. That's music to my ears.

Are these height increases for any of the projects listed on the first page of this thread or is this something entirely new?

k3d · #7 Posted **Aug 4, 2007, 4:58 PM**

Quote:

Originally Posted by fridayinla

Ralphs on the Market As CIM Looks Up

News Brief

Given the recent lauded opening of the new Ralphs supermarket at Ninth and Flower streets, it may seem unusual that developer CIM Group is selling off the retail anchoring its Market Lofts project. CIM recently listed the 55,979-square-foot component along with its 133-car parking garage with CB Richard Ellis. According to the real estate firm, CIM, which developed the project with Lee Homes, had always planned to sell the retail once it opened to maximize its investment. Ralphs, which occupies 50,000 square feet at the site, currently holds a 20-year lease. The remaining ground floor is leased to Cold Stone Creamery, Quiznos and FedEx Kinkos.

At the same time, CIM has reworked plans for a mixed-use project near the market to make two buildings substantially taller and denser. The Community Redevelopment Agency held a hearing on the development's draft environmental impact report last week. One building north of the market, originally set at six stories, is now anticipated to climb 22 stories; the other, just east of Ralphs and planned as 13 stories, would be 42 stories. The effort would create nearly 1,300 new residential units and more than 2,700 parking spaces. "We've been planning this for quite a while," said John Given, a principal with CIM Group. "It's all pretty consistent with our plans for South Village." According to Given, the smaller tower at Eighth and Hope streets could break ground next year. The project would join other high-rises by Sonny Astani and Meruelo Maddux currently under construction in the area.

Yes, that news seems kind of late from them since there have been renders of the 42 and 22 story towers (even on the first page here) for some time now. Even the old render of 8th and Hope is 22 stories. The original drawing of iHope was 22 stories dated 06/2006.
I would guess the first thing they would have to build is the 6 or 7 story parking garage between Market and iHope so the Market Loft owners have a place to park during Park Tower construction. That is sure going to make for some dusty cars though. The lot for iHope was the staging area for Market/Ralph's so it seems to be ready for contruction anytime.

(Photo credit: http://www.cimgroup.com)

ladowntowner · #8 Posted **Aug 4, 2007, 10:12 PM**

Quote:

Originally Posted by k3d

(Photo credit: http://www.cimgroup.com)

I like the height of this tower as it helps spread the skyline southward and adds to the bridging effect between the "Transamerica" tower and the rest of the skyline, however the design looks extremely dated à la 1960's. Or is it just me?

BrandonJXN · #9 Posted **Aug 4, 2007, 11:28 PM**

Quote:

Originally Posted by ladowntowner

I like the height of this tower as it helps spread the skyline southward and adds to the bridging effect between the "Transamerica" tower and the rest of the skyline, however the design looks extremely dated à la 1960's. Or is it just me?

I actually like the dated look. My grandparents owned an apartment complex in Inglewood which had a look that resembled this building. You see these mid 60's-late 70's style of homes in Carson, Inglewood, Compton and the like. Mabye that's the theme.

citywatch · #10 Posted **Aug 6, 2007, 5:50 PM**

Quote:

Originally Posted by Sodha

I just walked by 5th & Olive at 8 pm and they just put up a huge ad for Park 5th on the street corner. It looks awesome. "Downtown is looking up" is the theme.

very interesting. I hope that offsets the devlpr's delay in opening parkfifth's sales ctr. This is one proj that I consider mandatory, partly because the gap it will fill in is so huge, & because that part of DT, which right now is getting new blood only because of conversion & renovation work, also needs improvement that's totally new from the ground up.

lasteph · #11 Posted **Aug 6, 2007, 11:22 PM**

Quote:

Originally Posted by citywatch

[/b]
very interesting. I hope that offsets the devlpr's delay in opening parkfifth's sales ctr. This is one proj that I consider mandatory, partly because the gap it will fill in is so huge, & because that part of DT, which right now is getting new blood only because of conversion & renovation work, also needs improvement that's totally new from the ground up.

the sales ctr should already be open. my friend is going there today. the agent said they have already 250 units "sold". I'll find out later today if this is all true or not......

fridayinla · #12 Posted **Aug 6, 2007, 11:26 PM**

Quote:

Originally Posted by lasteph

the sales ctr should already be open. my friend is going there today. the agent said they have already 250 units "sold". I'll find out later today if this is all true or not......

Awesome news about the sales office being open! Did it open in Gas Company Tower as planned?

lasteph · #13 Posted **Aug 6, 2007, 11:30 PM**

Quote:

Originally Posted by fridayinla

Awesome news about the sales office being open! Did it open in Gas Company Tower as planned?

I will find out more later on today. I'm at work so I wasn't able to go. I'm skeptical as I hadn't read anywhere about a sales office or even any sales yet. Hopefully this is true. I'll report later......

citywatch · #14 Posted **Aug 6, 2007, 11:33 PM**

Quote:

Originally Posted by lasteph

the sales ctr should already be open. my friend is going there today. the agent said they have already 250 units "sold". I'll find out later today if this is all true or not......

Oh, jeeez, along with the fact I've never seen you posting here before, that news sounds good enough to make me think you're just goofing on me.

I say that because Parkfifth's web site indicates their "sales center opens this fall." It previously said something about it opening in late summer, & I believe even before that it mentioned a time around "early summer."

lasteph · #15 Posted **Aug 6, 2007, 11:37 PM**

Quote:

Originally Posted by citywatch

[/b]
Oh, jeeez, along with the fact I've never seen you posting here before, that news sounds good enough to make me think you're just goofing on me.

I say that because Parkfifth's web site indicates their "sales center opens this fall." It previously said something about it opening in late summer, & I believe even before that it mentioned a time around "early summer."

I know all about it. I'm skeptical also that's why I was asking the agent if he is sure..... I'll confirm later the details.....

Easy · #16 Posted **Aug 6, 2007, 6:20 PM**

Quote:

Originally Posted by Sodha

I just walked by 5th & Olive at 8 pm and they just put up a huge ad for Park 5th on the street corner. It looks awesome. "Downtown is looking up" is the theme. Whoever this developer is, this person cares about downtown. Check it out! Hopefully this becomes a reality!

I looked for that when I was downtown and didn't find it. There was a big wooden billboard that was blank. I figured that they must have already taken the ad down or I somehow completely missed it.

fridayinla · #17 Posted **Aug 6, 2007, 10:05 PM**

Quote:

Originally Posted by Easy

I looked for that when I was downtown and didn't find it. There was a big wooden billboard that was blank. I figured that they must have already taken the ad down or I somehow completely missed it.

I also tried finding the Park Fifth sign this weekend and only saw a blank white wooden sign. It looks to me like they've yet to put up the ad, b/c I can't imagine it would have only been up for a day then taken it down.

LongBeachUrbanist · #18 Posted **Aug 4, 2007, 11:18 PM**

It's dated, yes. But it works, I think, because:

1) it has lots of green, expanding the effect of the park below; and

2) it acts as a bridge stylistically between the FiDi and TransAmerica.

LosAngelesBeauty · #19 Posted **Aug 5, 2007, 9:31 AM**

OMG!!!! Yeah! That's like LITERALLY night and day! It's GORGEOUS! IMAGINE EVERY SINGLE BUILDING ON BROADWAY CLEANED UP LIKE THAT????

DTLA · #20 Posted **Aug 5, 2007, 6:46 PM**

the theatre actually stands out from the other buildings now, which is good cause it's an amazing building which shouldn't just blend in with the plain residential towers.