LOS ANGELES | Downtown Project Rundown 6.0

[Eightball]

Only 8 Million? Does it not have any air rights? Seems like a low price! Great bldg tho, makes me miss my old hood :/

[dktshb]

This project rundown page probably going to be pretty anemic for months or years to come now due to the financial crisis that is growing from Covid-19.

Time to focus on finishing Pershing Square and fixing up and making all downtown more beautiful and pedestrian friendly.

[Tiorted9]

Here is a plan to repurpose a parking garage into office space:

https://commercialobserver.com/2020/...ersion/#slide0

[delts145]

^^^
Amazing that that beauty was built as a parking garage! The old saying 'They don't make 'em like that anymore' really applies here.

[CaliNative]

With the economy contracting as much as 10-20% over the next few months, some (or most) of the projects mentioned here may be paused for a while. But hopefully the bounce back will be strong once we get past this disease. After the 1918 "Spanish" Flu epidemic, L.A. boomed in the mid to late '20s. They should give a billion dollar prize for a cure and a vaccine that works. I firmly believe that we will bounce back strongly and L.A. downtown growth will resume as early as 2021. The runup to the 2028 Olympics will get things humming. Everybody keep well, eat well, take your vitamins, wash your hands, stay inside. Social distancing is the key. Read that novel you wanted to read but never did.

[citywatch]

Originally Posted by CaliNative

But hopefully the bounce back will be strong once we get past this disease.

the coronavirus...or covid-19....has done something not evident in LA for over 60 yrs....fast flow through on the fwys!


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maybe the roads were similar during the 1992 riots, certainly the 94 northridge earthquake. But as continuously lightly traveled as they now are for days on end, morning to night?

Only in a bad hollywood disaster movie!

when the world's nervous breakdown is over with, I hope the Ocreanwide proj will be at least an active construction site once again.


edit: a bad netflix disaster movie is occurring in real time....


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[CaliNative]

Originally Posted by citywatch

the coronavirus...or covid-19....has done something not evident in LA for over 60 yrs....fast flow through on the fwys!


• Video Link


maybe the roads were similar during the 1992 riots, certainly the 94 northridge earthquake. But as continuously lightly traveled as they now are for days on end, morning to night?

Only in a bad hollywood disaster movie!

when the world's nervous breakdown is over with, I hope the Ocreanwide proj will be at least an active construction site once again.


edit: a bad netflix disaster movie is occurring in real time....


• Video Link

^^^^

Looking on the positive side, it means most people are taking staying at home/social distancing seriously, so hopefully it will slow the spread of the disease. The crowded Florida beach scenes with kids on Spring Break shown last week were disgraceful. Slowing the spread is crucial, since it gives time to seek a treatment and reduces the strain on the hospitals. Hopefully in the next few weeks the new cases will start to level off and eventually decline. The other positive development is that new measures to house the homeless are being implemented. L.A. is placing cots in rec centers, 6.5 feet apart.

The economic decline and unemployment will be shocking and depression-like over the next couple of months (15%+ unemployment?), but as long as abundant money flows to the unemployed it is survivable and necessary. A temporary "hibernation" in a way. Also there are rent and mortgage moratoriums which should help. The bounce back could be strong once the outbreak is defeated, as long as the money flows from the federal government to those in need. L.A. should boom again and construction resume in a year or two, especially if effective treatments and a vaccine are found. Sure hope so.

I no longer live in L.A. (now in S.D. area). Does anybody know if work is continuing on such projects as the Century twin towers and the Grand Av. project, or have they been temporarily paused due to the situation? Any updates?

[Easy]

^I think that most project construction is continuing for now. See the LA Times link below.

As California shelters at home from coronavirus, construction of housing goes on

[Just-In-Cali]

Originally Posted by Easy

^I think that most project construction is continuing for now. See the LA Times link below.

As California shelters at home from coronavirus, construction of housing goes on

Plus from a more cynical POV, with commodity costs plummeting as well as a likely influx of cheaper labor and materials, if a project has the financing secured, this would be a perfect time to push forward. May save costs in the long run.
Id rather it not be under these circumstances...obviously. This is a culture change level event that we have only just begun to see the long term effects of.

[Will O' Wisp]

From San Diego to you.

Good luck and stay safe.

[Niftybox]

San Diego beginning to look like a mini Vancouver.

[CaliNative]

Originally Posted by Will O' Wisp

From San Diego to you.

Good luck and stay safe.

^^^
Hospital ship for Chargers trade? Nah...L.A. can keep the Chargers. Good luck to all. Hopefully the nasty covid can be beat soon. Social isolation for a few weeks. Then some effective medicines & vaccine eventually. The old polio outbreaks they used to have every summer before the Salk vaccine were in some ways more scary. Every kid before '52 had nighmares of ending up in an iron lung. And the flu epidemic of 1918 was really bad. We've been here before and we always came through. I think in a year or two the boom may resume. A relatively brief recession/depression, and then a sharp recovery once the virus is beat. The government should just print money so everyone has some cash. Looks like most of the homeless will be housed, so that is also good. I think downtown boom will resume and the skyline by 2028 Olympics will be very impressive.

[citywatch]

with cities & places throughout the world now going through a nervous breakdown, the question is how will that affect towns running the gamut from NYC to Atlanta, from Paris to seattle, from tokyo to Los angeles? At least over the next 10 yrs.

With everyone cooped up in their houses & apts, there's more time to kill. however, I admit I still skipped through major parts of this video....but it's still worth seeing to get a sense of where things were in the past, where they may be in the future. Assuming today's pandemic isn't near fatal for various cities, including dtLA.

The film starts off wrongly edited (dealey plaza, dallas, huh?), but it's a reminder of how far down dtla was over 17 yrs ago compared with today...or at least before Feb 2020. Covid-19 is a major fly in the ointment.

I believe the video dates back to around 2003.

the part that stands out to me is around 36:00. that's when Ira yellin is featured. He'd have been thrilled to see dtla in 2019, less so today as a coronavirus ghost town.

When talking about not being around to see a better dtla, I don't think he realized at the time just how short his time really would be...he died the yr before disney hall opened. but in today's dtla, a lot of his biggest hopes have come to life, in spite of too much homelessness, graffiti, businesses still favoring other areas to operate out of, covid-19.


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[Niftybox]

Man, this is sad. I was just getting into this site and now it's nearly dead.

[eburress]

Originally Posted by Niftybox

Man, this is sad. I was just getting into this site and now it's nearly dead.

I'm a little surprised too. With everybody at home, while there might be fewer progress photos you'd think people would have lots of extra time to talk skyscrapers, development, etc...

[pwright1]

Originally Posted by CaliNative

^^^^

Looking on the positive side, it means most people are taking staying at home/social distancing seriously, so hopefully it will slow the spread of the disease. The crowded Florida beach scenes with kids on Spring Break shown last week were disgraceful. Slowing the spread is crucial, since it gives time to seek a treatment and reduces the strain on the hospitals. Hopefully in the next few weeks the new cases will start to level off and eventually decline. The other positive development is that new measures to house the homeless are being implemented. L.A. is placing cots in rec centers, 6.5 feet apart.

The economic decline and unemployment will be shocking and depression-like over the next couple of months (15%+ unemployment?), but as long as abundant money flows to the unemployed it is survivable and necessary. A temporary "hibernation" in a way. Also there are rent and mortgage moratoriums which should help. The bounce back could be strong once the outbreak is defeated, as long as the money flows from the federal government to those in need. L.A. should boom again and construction resume in a year or two, especially if effective treatments and a vaccine are found. Sure hope so.

I no longer live in L.A. (now in S.D. area). Does anybody know if work is continuing on such projects as the Century twin towers and the Grand Av. project, or have they been temporarily paused due to the situation? Any updates?

I rode by the Century City twin towers and Century Plaza Hotel last week. I posted a couple of pics in the non-downtown development section.

[citywatch]

• Video Link

Everyone needs to keep their hopes & spirits up.....2020 shall soon pass

[ChelseaFC]

Australian developer moves forward with plans for 43-story condo/hotel tower at 11th/Hill, hopes to break ground in 2021

Although the coronavirus pandemic has slammed residential sales, shuttered many hotels and made construction more challenging, Crown Group is betting that demand for its building will be revived in time for the planned 2025 opening. Executives are working to secure city permission to build the tower and hope to start construction by the end of next year.

Many new downtown condos have been slow to sell in recent years, but Crown Group executives hope to buck the trend by pricing all 319 units around $1 million or less, with studios starting at about $600,000.

Other downtown condos have been too expensive, Sunito said, and “too many were designed to Asian tastes,” meaning the units aimed at overseas buyers were overly large and the complexes too staid to appeal to millennials’ preferences.

Sunito anticipates that about half of the units will be owner-occupied and that the rest will be sold to investors, including a large contingent of parents from China, Indonesia and Singapore buying condos for their children to occupy while attending college in the Los Angeles area.

"It’s rare to find the central district of a large cosmopolitan city on the verge of such significant change,” he said. “Downtown is experiencing a once-in-a-generation revival."

https://www.latimes.com/business/sto...wn-los-angeles

[Zapatan]

That building is awesome, wish for the best! Not to sound overly negative but I feel like I read a bunch of articles in this thread about how a developer is "moving forward" with a project but then nothing ever happens.

[LA21st]

Originally Posted by ChelseaFC

Australian developer moves forward with plans for 43-story condo/hotel tower at 11th/Hill, hopes to break ground in 2021



https://www.latimes.com/business/sto...wn-los-angeles

Wow, this really cool