LOS ANGELES | Downtown Project Rundown 6.0

[nmkef]

Just FYI, that article is just rephrasing what the Oceanwide annual report says, which was published 2 weeks ago, which was just restating what was published last year regarding the LOI. No actual status update beyond "at the time of filing still no news". So at least the buyers haven't backed out already?

https://www.oceanwide.hk/html/investor_ann.php

As of the date of this announcement, the Group is still negotiating with the potential purchaser in respect of the terms of the sale and purchase agreement and no definitive agreement has been signed yet. The Group and will make announcement as and when appropriate in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”). It is expected the financial difficulties of the Group can be resolved by the end of 2023.

[DownTown Giant]

Looking at the Los Angeles diagram, and building list; I see the the Wilshire Grand has been down graded to 62 stories, and the US Bank Tower been reduced to 71 floors.
Is this an official recount ?

[HusBy]

[QUOTE=colemonkee;9914757]Welcome to the forum, HusBy! Looking forward to those pictures!

Thanks colemonkee!

Here are some recent photos from the Arts District, which seems to be busier than ever with restaurants, pedestrians, and just traffic in general. Amazing what a difference from just a few years ago.

Alloy from several weeks ago:
Arts District by A S, on Flickr

From the 6th St bridge:
Arts district by A S, on Flickr

From Mateo and Palmetto - taller than expected on this side!
Alloi Arts District by A S, on Flickr


From Palmetto with the Nate Starkman Building:
Arts district by A S, on Flickr

6th St bridge in the rain:
Arts District by A S, on Flickr

Ava is absolutely massive and very far along. Here it is in the distance from the 6th St Bridge:
Arts district by A S, on Flickr

Arts District by A S, on Flickr

Arts District by A S, on Flickr

Arts District by A S, on Flickr

[Easy]

Nice. Appreciate the photo update!

[LAsam]

Wow! That's some serious progress on those Arts District projects. Glad to hear the area is doing well! Haven't been there much since pre-pandemic. Thanks for sharing!

[citywatch]

Originally Posted by HusBy

Here are some recent photos from the Arts District, which seems to be busier than ever with restaurants, pedestrians, and just traffic in general. Amazing what a difference from just a few years ago.

The AD runs counter...happily....to my theory that if an area become too gritty or unpopular, the odds of it ever bouncing back are slim to none. Generally, dtla over the past 60 yrs has seen downturns more severe than what other major cities like NYC or SF, etc, have witnessed. Yet it in certain ways, dt is better today than it was over 80 yrs ago, not helped by city agencies like the DWP. So hope springs eternal.

costar.com

Adidas To Open Downtown Los Angeles Retail Store Near New Office German Athletic Retailer Takes 5,000 Square Feet on Broadway

A German athletic retailer is expanding in downtown Los Angeles along a historic corridor that has recently attracted sneakerheads, clothiers and even an Apple store.

travelweekly.com

The once-buzzy former Standard Hotel space in Downtown Los Angeles has new life this week. The 209-room building on Flower Street, once the headquarters of Superior Oil, spent years as a cool-kid hangout (complete with rooftop pool) and now will play host to a whole new generation of travelers and staycation locals under the name the Delphi Hotel. What’s more, the property has begun to roll out a suite of food and beverage areas, beginning first with a lobby-level lounge and bar serving breakfast, coffee, afternoon snacks, and evening cocktails. Future plans involve a diner built into the property, a new rooftop hangout near the pool (complete with a so-called “secret” garden), and more lobby-level dining and lounge areas including a private bar.

[black_crow]

... since the new hotel was mentioned... I was in touch with the Delphi-Managment ("The Delphi" replaced "The Standard").

Here is what I was told:

- The rooftop will not be open until next year. Some new sites reported something different like "in the coming months", that isn't true.
(So there will be major changes. I am not excatly happy about this (since I loved the old concept) but I will wait for the final result and keep an open mind).

- The Delphi Lounge opened today, it’s indoor-outdoor Lounge on the lobby level serving cocktails and bites.

So if you guys are around.. check it out.

[citywatch]

• Video Link

I don't know how market conditions, not just in dtla but elsewhere too, will support new devlpt.

The following shopping ctr was built in 2019 by the same company behind the beaudry apt tower, next to the Fig at 7th mall. It looks shiny & new, full of high tone stores, & is in an affluent burb of NYC....

https://youtu.be/nK8XliFo4d8

If an indoor shopping mall is built across from staples/crypto arena, it probably will look very similar to the one in connecticut....but without all the upscale residents that surround a relatively new mall approx 50 miles from manhattan. So if Oceanwide hadn't run out of funds, would a part of their proj in dtla be another modern dead mall? Of if the proj is revived, will the new owner be facing a world of disappointment?

Then there's the Angel's Landing proj at 4th & Hill St which has some of the same moving parts too. Uncharted waters up ahead.

[craigs]

Thanks for the photo updates of the Artist District projects u/c, HusBy! Having some high- and mid-rises over there is really going to change the look, feel, and function of the central city.

I'll definitely pop my head into the Delphi lobby restaurant/bar next time I'm downtown.

[hughfb3]

In some news... The AC/Moxy Hotels have opened along with their signature ground floor Bluestone Coffee shop on the corner of Fig/Pico. The plot for the second tower is currently a paved one and doesn't look to start construction anytime soon. The architectural lights on Mitsui's 8th and Fig tower look great. Its turning out to be one of my favorite new buildings purely for its high quality facade choices.

Onni's core is above grade.

[BrandonJXN]

Originally Posted by black_crow

... since the new hotel was mentioned... I was in touch with the Delphi-Managment ("The Delphi" replaced "The Standard").

Here is what I was told:

- The rooftop will not be open until next year. Some new sites reported something different like "in the coming months", that isn't true.
(So there will be major changes. I am not excatly happy about this (since I loved the old concept) but I will wait for the final result and keep an open mind).

- The Delphi Lounge opened today, it’s indoor-outdoor Lounge on the lobby level serving cocktails and bites.

So if you guys are around.. check it out.

Although I'm a bit bummed that the rooftop won't be open this summer, I'm glad that the building will see continued use as another cool hotel.

[a9l8e7n]

A more close up for 540 S. Mateo Street taken on 4/15

https://twitter.com/LA_Construct/sta...03056553054209

[Illithid Dude]

I'm already seeing some value engineering on the facade.

[citywatch]

theregistrysocal.com

Garfield Building to be converted to boutique hotel by new owner

The 102,000-square-foot building sold for $19 million by a private investor that owned the property for more than three decades —YB Real Estate Properties, according to Reonomy data. The sale closed the day before L.A.’s Measure ULA, or Mansion Tax, was enacted, affecting sales of more than $5 million in the city.

Adaptive reuse projects have been popping up all over the streets of downtown L.A. Last month, AIDS Healthcare Foundation bought the historic Insurance Exchange Building with plans to renovate it for affordable housing. Similar to the Garfield, the Mama Shelter hotel brand is converting a vacant office building into a hotel and restaurant in the Fashion District. Sitting within DTLA’s Jewelry District, the Garfield was marketed by CBRE to buyers in the L.A. area as well as other California markets and outside of the state, noting that the building is in an “ideal location” to participate in the revitalization of downtown.

Sample said the project “fits the tone established in the South Broadway corridor with the Apple store and Whole Foods.”

This was 13 yrs ago. I hope the new owners will be on a somewhat faster timetable....

• Video Link


EDIT: I like how the Garfield as a hotel will add synergy to 8th St between Olive & Hill St, with the former Commercial exchange bldg already converted to the freehand hotel. This tourist staying at the freehand last yr pans her cam eastward & the garfield bldg can be seen to the right. Regrettably, the old May co bldg, which is also seen in the distance, probably won't be reactivated anytime soon. But this part of dtla overall has finally moved closer to where it should have always been. I recall when, as is still true of the garfield, the commercial exchange bldg was abandoned & the rusty sign of a long shuttered italian restaurant was on its ground floor.

https://www.youtube.com/live/0vbEEcpkP1k?feature=share&t=878

[Quixote]

The last major pre-war building that has yet to undergo any sort of adaptive reuse. About f'ing time.

[craigs]

That is great news. The Garfield is the perfect kind of building for rehabbing into a hotel (or residential)--the floorplates are relatively small, and there's plenty of natural light available on all sides.

[scania]

Originally Posted by craigs

That is great news. The Garfield is the perfect kind of building for rehabbing into a hotel (or residential)--the floorplates are relatively small, and there's plenty of natural light available on all sides.

And will be great for another rooftop bar/restaurant.

[HusBy]

Originally Posted by craigs

Thanks for the photo updates of the Artist District projects u/c, HusBy! Having some high- and mid-rises over there is really going to change the look, feel, and function of the central city.

I'll definitely pop my head into the Delphi lobby restaurant/bar next time I'm downtown.

No problem! It's so interesting seeing the Arts District develop in this way...

Great news about the Garfield, wonder what hotel brand picked it up. Pretty wild to think how many hip new hotels are/will be within a few blocks of each other in that part of DTLA.

[a9l8e7n]

60-story tower at 1000 S Hill Street at the intersection of Olympic and Hill (peak through fencing). Reached ground level. Expecting it to rise fast from here.

https://twitter.com/LA_Construct/sta...63946922102784

[citywatch]

^ It will be satisfying and a relief to see that proj rise over the next 2 yrs. That corner of dtla could use another shot in the arm & a 60 story will help offset the area's old low rises & parking lots.

As for this school, I recall yrs ago reading a student attending it saying how desolate dtla was. That was before ralphs, much less Whole foods or other things like the Freehand or LA live, etc, had been built in the area. Since this school has also taken over the old herald examiner bldg & reactivated it, I can't be too wary of out of staters eroding a bit of local identity ...

dreamstime.com

Arizona State University renames fashion program after partnering with LA school

On April 10, ASU announced that it partnered with the Fashion Institute of Design and Merchandising as part of the expansion of its fashion program, which will be renamed ASU FIDM, and operate on both ASU's downtown Phoenix campus and in downtown Los Angeles on the FIDM campus.

“Our existing students and future students who will choose to study fashion in Arizona will have increased opportunities to engage with one of the fashion capitals, in Los Angeles,” said Steven Tepper, dean and director of the Herberger Institute for Design and the Arts at ASU, which launched in 2017. “Similar to how we’re thinking about film and the Sidney Poitier school, we believe strongly that the students studying in the creative industries should kind of have a free pass to move between Arizona and California.”

.