LOS ANGELES | Downtown Project Rundown 6.0

[colemonkee]

I think we also have the Hooters hotel tower duo to look forward to, so we should have 5 towers going up simultaneously within 6-12 months, not to mention all the projects going up outside of downtown (which are many).

[caligrad]

^^^ I hope so. I know its a loooooong shot but i hope the fig and 9th tower to start soon.

Its amazing how we havent heard anything about the Luxe site lately.

[colemonkee]

I think developments that are primarily financed with Chinese investment may be in a holding pattern while trade disputes are still unresolved. But for developments that can tap into other funding sources, like Onni projects, I would expect the anticipated Fed rate cuts to give some of them a shot in the arm in the short term, as it will reduce borrowing costs. Yes, only by a quarter percent, but 0.25% on 4% is a significant cut.

[Blesha13]

Is there a live cam for the Grand Ave project? If so, shoot the link please.

[a9l8e7n]

Originally Posted by Blesha13

Is there a live cam for the Grand Ave project? If so, shoot the link please.

That would be great!

[Radio5]

Originally Posted by colemonkee

I think developments that are primarily financed with Chinese investment may be in a holding pattern while trade disputes are still unresolved. But for developments that can tap into other funding sources, like Onni projects, I would expect the anticipated Fed rate cuts to give some of them a shot in the arm in the short term, as it will reduce borrowing costs. Yes, only by a quarter percent, but 0.25% on 4% is a significant cut.

If the deal didn't work as the rates are now, no (smart) developer is going to do it because they dropped a quarter. I think this is more helpful to potential homeowners and builders.

[pwright1]

The new Plaza at the Music Center is almost ready to open. The fountain was being tested and the Jacques Lipchitz's 'Peace On Earth' 10 ton bronze sculpture was moved to it's new home on the west side of the Plaza.

[citywatch]

Originally Posted by pwright1

The new Plaza at the Music Center is almost ready to open.

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[pwright1]

[pwright1]

[citywatch]

Originally Posted by pwright1

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your pics show the ongoing phases of creating a more complete city.

as for these vids, they can be fast forwarded through....but work on the lucas museum & the number of ppl visiting the broad are a hint that dtla has a better sense of place today than it did in the past....like a person who had problems with arrested development for a long time, but is finally growing up....


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[JerellO]

Oceanwide is taking foreverrrr 😩 I cant wait till they start putting up the video screens

[JRinSoCal]

Has Oceanwide's podium changed? The renderings showed the LED wrapping the base all around the corner in a very wavy design. I hope that wasn't scrapped due to cost concerns.

[JerellO]

Originally Posted by JRinSoCal

Has Oceanwide's podium changed? The renderings showed the LED wrapping the base all around the corner in a very wavy design. I hope that wasn't scrapped due to cost concerns.

It hasn’t changed, at least I don’t think it has. They still have yet to build the loopy part for the southern end of the site. And the screens still need to be installed to add to the ribbon effect

[pwright1]

When I shot these the other day there were construction workers at the Oceanwide sight. Quite a few in fact.

[LAsam]

Originally Posted by pwright1

When I shot these the other day there were construction workers at the Oceanwide sight. Quite a few in fact.

That's great news... keep worrying this project will stumble before the finish line.

[SamInTheLoop]

Originally Posted by colemonkee

I think developments that are primarily financed with Chinese investment may be in a holding pattern while trade disputes are still unresolved. But for developments that can tap into other funding sources, like Onni projects, I would expect the anticipated Fed rate cuts to give some of them a shot in the arm in the short term, as it will reduce borrowing costs. Yes, only by a quarter percent, but 0.25% on 4% is a significant cut.

The Chinese capital pullback has little to do with trade disputes. That's the previously enacted flight capital controls put in place at work.

Real estate financing rates are tied to long-term treasuries - not the Fed Funds rate. So, if you want to get a sense for what commercial mortgage rates are doing, pay much more attention to the 10-year yield than the rates that the FOMC sets. And yes, long-term yields are definitely dropping, and have been - by more than fed funds (not by any means a 1-to-1 relationship). Long-term risk-free yields are, by first approximation, a reflection of what investors anticipate future short-term rates to be.

[citywatch]

this covers familiar territory, so nothing new in the article....more interesting in that it shows dtla has a different reputation today, at least for some ppl, than it did not too many yrs ago.

The sightseeing attractions of downtown Los Angeles
I quickly found out why downtown LA is now a visitor hotspot.

When I told my friends I was going to Los Angeles and planned to explore the downtown area, there was either silence or, “What about Hollywood, Disneyland, Knotts Berry Farm and Universal Studios?”

I acknowledge the appeal of all these attractions but I was intrigued to find out why downtown Los Angeles, which was almost a no-go area for some people fifteen years ago, was now considered a visitor hotspot.

Today, cranes dot the skyline as downtown undergoes the biggest development boom since the Roaring Twenties, when the area was then the centre of the entertainment industry. New apartments, hotel rooms and retail and office space are steadily coming online while existing structures are being recycled, and the city’s public transport system is being expanded and improved.

Grand Avenue is home to a marvellous collection of music venues and museums somewhat reminiscent of Melbourne, Australia. They deserve an article on their own so I will oblige at a later date.

One of my favourite discoveries was The Last Bookshop which has become an international tourist draw.

Running a close second to the bookstore is the Grand Central Market which has operated at this indoor site since 1917. In recent years it has gone up-market with a great selection of gourmet goods.

8th & Hill was a no go part of dt as recently as two yrs ago....


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[patriotizzy]

Originally Posted by citywatch

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LA's parks like to be surrounded by walls and barriers. Why not leave the sides open for a more inviting access?

[citywatch]

A recent stroll on olive St from south pk to the grand ave proj & back to south of olympic blvd again....much of what exists today was mainly parking lots & abandoned bldgs not too many yrs ago.

Projs like the 35 story level didn't exist, the freehand hotel was the long vacant commercial exchange mercantile bldg, the nomad was the long abandoned gianinni bank bldg....the 8th & grand apt bldg was a huge potholed parking lot. The biltmore had long been across the street from a deadening parking lot, what's now the soon to be completed park fifth apt bldg.

I still remember walking by the abandoned coulter mandel bldg at 7th & olive when its upper windows had rags...old curtains....hanging out of them. Disney hall, ever since its opening in 2003, had been stuck next to the tinker toy parking structure...supposedly temporary....built over 40 yrs ago....some temporary that was.

olive st is fairly typical by the standards of many major cities out there...but for LA, dt in 2019 is a more well rounded area....a first in the city's history. Even before dtla lost its mojo over 70 yrs ago, very few ppl lived there. so large portions of this didn't exist even in the early 1900s....


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