Wonder where the LED thing is suppose to be

this is nice but im still waiting for los angeles to get a new highrise maybe like 200 - 250 metres

Woops... when I was talking about the LED thing I was in the wrong thread :D

The windows seems to be of different colours...
What's the explanation?!

The windows get lighter near the top of the building.

Looks like they're cheapening out

^ No, that's always been the plan. It's supposed to give you the illusion of a waterfall.

http://farm4.static.flickr.com/3049/2928925779_e5eda3beb9_o.jpg
From Flickr, by lacurbed

http://farm4.static.flickr.com/3238/2928926007_04e31338e0_o.jpg
From Flickr, by lacurbed

http://farm4.static.flickr.com/3228/2928926295_5b278fa92a_o.jpg
From Flickr, by lacurbed

http://farm3.static.flickr.com/2277/2928926611_c4d70fecda_o.jpg
From Flickr, by lacurbed

http://farm4.static.flickr.com/3004/2928926859_fd7ed9b24e_o.jpg
From Flickr, by lacurbed

http://farm4.static.flickr.com/3171/2929795182_a16d07978d_o.jpg
From Flickr, by lacurbed

http://farm4.static.flickr.com/3278/2942077801_cc4f17bc5c_o.jpg
From kcswest.com

^^ can't wait to see what they do to the garage.

^I can't wait until we collectively graduate from parking garage podiums altogether.

Nonsense! They will serve us well during the Great Flood.

October 29, 2008

http://farm4.static.flickr.com/3284/2984092071_7b5f63b22d_b.jpg
From Flickr, by ericrichardson

http://farm4.static.flickr.com/3295/2984093563_b40419590f_b.jpg
From Flickr, by ericrichardson

http://farm4.static.flickr.com/3217/2984093947_bed8d27dc9_b.jpg
From Flickr, by ericrichardson

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From Flickr, by ericrichardson

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From Flickr, by ericrichardson

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From Flickr, by ericrichardson

http://farm4.static.flickr.com/3198/2984957432_bce46fe236_b.jpg
From Flickr, by ericrichardson

http://farm4.static.flickr.com/3212/2984102113_aa5c879215_b.jpg
From Flickr, by ericrichardson

http://farm4.static.flickr.com/3198/2984957432_bce46fe236_b.jpg

Thanks for posting this Westy. What really caught my eye in this pic. is the amazing density of the Old Bank District. I'm supposed to go back in may of next year...I think I'm gonna try and make that my new home.

http://farm4.static.flickr.com/3212/2984102113_aa5c879215_b.jpg

South Park is amazing as well, especially with the addition of 717 9th, Concerto and Hanover...but it still seems too "open"...This image really shows all the parking lots littered around the area. And from a human scale, these are SOOOO much bigger.

http://farm4.static.flickr.com/3198/2984957432_bce46fe236_b.jpg

Thanks for posting this Westy. What really caught my eye in this pic. is the amazing density of the Old Bank District. I'm supposed to go back in may of next year...I think I'm gonna try and make that my new home.

http://farm4.static.flickr.com/3212/2984102113_aa5c879215_b.jpg

South Park is amazing as well, especially with the addition of 717 9th, Concerto and Hanover...but it still seems too "open"...This image really shows all the parking lots littered around the area. And from a human scale, these are SOOOO much bigger.
Looking at all that unused potential in those god forsaken parking lots makes me sick, but it opens up a lot of opportunities!:banana:

Great pictures...Downtown looks :drool:...

http://farm4.static.flickr.com/3016/2984101795_ecf5f256d3_b.jpg
From Flickr, by ericrichardson

Oh Metropolis, you are sorely needed.

feels like the blue line needs another station stop at olympic. would bring taller structures and more demand to the area.

http://i56.photobucket.com/albums/g189/FROMLOSANGELES/DowntownVisit027.jpg

http://i56.photobucket.com/albums/g189/FROMLOSANGELES/DowntownVisit029.jpg

What a billboard...

November 29, 2009

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http://farm4.static.flickr.com/3216/3069963478_ca61351464_b.jpg

-woops-

Nice update...:)

December 5, 2008

http://farm4.static.flickr.com/3036/3090253253_0d39cb2754_b.jpg
From Flickr, by California Pete

Did you intentionally photograph that pane of windows up top that are about to fall and kill several hundred people below on the sidewalk.

?

where

January 28, 2009

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http://farm4.static.flickr.com/3407/3234912883_0f1d6c4c2e_b.jpg

Definitely dont get/see the implied "agua motif" but it does stand out with that glass, nice!. also gotta say these buildings really make 19 year old 777 appear that much more devastatingly flawless.

Has anyone else noticed the building appears to have two different shades of glass about two-thirds up the building? I think it looks really bad! It's like the developer suddenly started using a different type of glass.

Has anyone else noticed the building appears to have two different shades of glass about two-thirds up the building? I think it looks really bad! It's like the developer suddenly started using a different type of glass.

That's what raymond3000 is saying. The variations in the glass are supposed to give you the illusion of a waterfall.

Has anyone else noticed the building appears to have two different shades of glass about two-thirds up the building? I think it looks really bad! It's like the developer suddenly started using a different type of glass.


That's what I said but apperently they're trying to go with the "waterfall" theme

Well, then they'd need then just two different shades. Instead of looking like a waterfall, it looks like a building whose top half has been blasted by the sun way too much. It just looks like a bad job. They need to ask the Ritz on how to blend in different shades of glass. They also need to cover up that parking structure.

February 2, 2009

http://farm4.static.flickr.com/3266/3249945518_768e59d4f8_b.jpg

http://farm4.static.flickr.com/3506/3249120915_a53f44581e_b.jpg

February 15, 2009

717 Ninth

http://img25.imageshack.us/img25/875/meruelo200902151ye1.jpg

That corner penthouse unit should be pretty nice...

http://img24.imageshack.us/img24/8621/meruelo200902153bk8.jpg

With Concerto poking up on the left.

http://img25.imageshack.us/img25/5776/meruelo200902152hq9.jpg

We've seen some renders with a "jungle" theme over the parking podium. I'm not sure if this is it, a test, or just a supergraphic, but I really hope this isn't permanent. It just looks bad.

http://img24.imageshack.us/img24/6264/meruelo200902154xc6.jpg

A partial view...

March 11, 2009

http://farm4.static.flickr.com/3552/3348433178_a4683b0571_o.png
From Flickr, by 32°43'

By DEBORAH CROWE
Los Angeles Business Journal Staff


Meruelo Maddux Properties said Wednesday it had stopped making payments on 26 real estate loans totaling $266 million, and that independent auditors were likely to issue a "going concern" opinion questioning the company’s ability to remain in business.

The largest landowner in downtown Los Angeles, which made the statements in its fourth quarter earnings announcement, also said it was seeking to renegotiate its debt but that effort might not be successful.

“We are currently seeking loan workout agreements with four depository lenders on loans that total approximately ($178 million),” the company said in a statement. “We are unsure as to what results will be derived from such efforts and are exploring various restructuring options.”

Meruelo-Maddux has a portfolio of several dozen commercial and industrial properties projects and is developing two residential projects. It has been hurt for months by slow leasing and liquidity issues. A plan last May to increase liquidity by selling up to $300 million in stock, debt and a chunk of its portfolio – reportedly at heavily discounted prices – wasn’t well received.

Meruelo Maddux began 2009 with $4.5 million in unrestricted cash, but said Wednesday it would need to generate an additional $28 million in income annually to cover current cash shortfalls. The company said its unrestricted cash balance would cover just 2.5 months of required payments unless it was able to sell some of its mortgage properties. Although some properties are in escrow to be sold none of the sales have closed so far this year.

The company a fourth quarter net loss of $85.8 million (-98 cents per share), compared with a net loss of $2.6 million (-3 cents) a year ago. Revenue rose nearly 4 percent to $6 million.

I really don't like the glass..
It looks like it ran out of money and had to bring in cheaper ones

I really don't like the glass..
It looks like it ran out of money and had to bring in cheaper ones

Thats what I was saying before. I really don't like it! Oh well, atleast this project kept going and didn't stop when it ran out of money at one point.

I really don't like the glass..
It looks like it ran out of money and had to bring in cheaper ones

This really doesn't make any sense at all. How are some of the glass panels "cheaper" than others when all of them are essentially the same? They just are of different colors, nothing more.

By the looks of it.. by the looks...
Because it's so subtle that it looks like they're trying to "pull off" the "mistake"

the glass was ment to look like this. it supposed to give an illusion of a waterfall.

I've studied this, .... and it does look like they're pulling off some sort of financial stretch. If it was to resemble something, a waterfall or whatever, I think there should have been a move to lighter panes towards the bottom floors, and there are none. I think the panes were more expensive and they just mixed them around with the newer, cheaper panes.

LA Live made it obvious

By DEBORAH CROWE
Los Angeles Business Journal Staff


Meruelo Maddux Properties said Wednesday it had stopped making payments on 26 real estate loans totaling $266 million, and that independent auditors were likely to issue a "going concern" opinion questioning the company’s ability to remain in business.

The largest landowner in downtown Los Angeles, which made the statements in its fourth quarter earnings announcement, also said it was seeking to renegotiate its debt but that effort might not be successful.

“We are currently seeking loan workout agreements with four depository lenders on loans that total approximately ($178 million),” the company said in a statement. “We are unsure as to what results will be derived from such efforts and are exploring various restructuring options.”

Meruelo-Maddux has a portfolio of several dozen commercial and industrial properties projects and is developing two residential projects. It has been hurt for months by slow leasing and liquidity issues. A plan last May to increase liquidity by selling up to $300 million in stock, debt and a chunk of its portfolio – reportedly at heavily discounted prices – wasn’t well received.

Meruelo Maddux began 2009 with $4.5 million in unrestricted cash, but said Wednesday it would need to generate an additional $28 million in income annually to cover current cash shortfalls. The company said its unrestricted cash balance would cover just 2.5 months of required payments unless it was able to sell some of its mortgage properties. Although some properties are in escrow to be sold none of the sales have closed so far this year.

The company a fourth quarter net loss of $85.8 million (-98 cents per share), compared with a net loss of $2.6 million (-3 cents) a year ago. Revenue rose nearly 4 percent to $6 million.

http://money.cnn.com/news/newsfeeds/articles/prnewswire/200903111745PR_NEWS_USPR_____LA82525.htm

Pretty grim news. But...

Property Highlights

* The glass curtain wall at 717 W. Ninth Street was fully installed during the fourth quarter and interior framing, plumbing, electrical and drywall work are in progress. The project is on schedule with anticipated move-ins during the fourth quarter of 2009.
* We have leased an additional 19 units at our Union Lofts apartment project since our 2008 third quarter earnings release when we had 27 units leased. As of March 11, 2009, we have 46 units (50%) leased at approximately $2.90 per rentable square foot, net of concessions.
* We closed three asset sales during the fourth quarter of 2008: our Overland Terminal, 801 E. 7th Street and 816 Stanford properties generated gross cash proceeds after debt payoffs of $8.3 million (before closing costs).

any guesses as to how much it will be to rent an apartment here??

May 2, 2009

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Hi guys. Here are some pictures I took the day before yesterday. Can you imagine the first picture without 717 & 9th, Concerto, and 717 & Olympic?

http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live/IMG_1856.jpg

http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live/IMG_1896.jpg

Love the picture below. The three new guys on the block, or two bocks I guess.
http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live/IMG_1901.jpg

http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live/IMG_1909.jpg
South Park's lookin' sleek.

http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live/IMG_1912.jpg

http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live/IMG_1921.jpg

http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live/IMG_1924.jpg
Too much above ground parking on this block!

Whenever I drive by downtown, I never notice these buildings.

Hi there. This may sound funny, I'm a structural engineer and was a project engineer for this building. I can definitely answer some questions about this building and the 2055 Avenue of the Stars project (another one I worked on).

The windows are meant to have that look. This building really was water-centric, and the cladding was supposed to reflect that.

Originally, out in front of the diving board and cantilevered spa, there is/was supposed to be a glass feature with water cascading down it. Due to budget issues, I believe both of those got the ax.

There was also a plan for cladding the parking garage that sounded really cool. A bunch of steel tubes at different lengths and different locations, emulating a seaweed/kelp look. You'll noticed around the perimeter of the parking garage, these vertical steel tubes. These were meant to support the 'kelp', but again, I think those got the ax also.

Hi there. This may sound funny, I'm a structural engineer and was a project engineer for this building. I can definitely answer some questions about this building and the 2055 Avenue of the Stars project (another one I worked on).

The windows are meant to have that look. This building really was water-centric, and the cladding was supposed to reflect that.

Originally, out in front of the diving board and cantilevered spa, there is/was supposed to be a glass feature with water cascading down it. Due to budget issues, I believe both of those got the ax.

There was also a plan for cladding the parking garage that sounded really cool. A bunch of steel tubes at different lengths and different locations, emulating a seaweed/kelp look. You'll noticed around the perimeter of the parking garage, these vertical steel tubes. These were meant to support the 'kelp', but again, I think those got the ax also.


DAMN!!!:bash: Those things were what was going to really help cover that freakin' ugly parking podium! Now it looks like something just waiting to be tagged. Do you know if the developer plans to add that later on if he can get his finances together?

I think it looks good with the green tarp! It would also serve a purpose, by suffocating all the drivers parking their cars, thereby, learnin' 'em a lesson. That's "green" you can believe in!

I think it looks good with the green tarp! It would also serve a purpose, by suffocating all the drivers parking their cars, thereby, learnin' 'em a lesson. That's "green" you can believe in!

It's still on there?

Scrappy Meruelo Maddux Planning Another South Park Project?
From Curbed LA

In March 2009, downtown development company Meruelo Maddux, the company behind the 717 Ninth rental project, stated that due to its Chapter 11 filing, it would halt development on all projects. In this weeks' Los Angeles Business Journal real estate supplement there's a profile of Richard Meruelo. And guess what? The developer says he will announce a "new residential project in South Park in the next few months." Who knows when exactly this project will break ground, but here are some clues as to what it might be. An excerpt from a 2007 Downtown News article: "Having seen smaller projects succeed in South Park, the company has acquired a number of other parcels. Meruelo Maddux said a succession of high-rise buildings will break ground, with a new one every six months. Still in the planning stage are three nearby towers at 11th and Olive streets, including an unnamed 62-story skyscraper, according to a Meruelo spokesman." The company's official web site lists numerous proposed projects, including the aformentioned Southpark Towers project on Olive Streets. In terms of their property portfolio: According to their most recent quarterly filing, the company sold three development projects, 9901 Alameda, 816 Stanford and 801 E 7th Street in 2008.

What a pr*** tease

Anyone else agree that the parking structure looks hideous...?

Anyone else agree that the parking structure looks hideous...?
most of us do, i think.

Yes, quite ugly

Well I'm glad I'm not the only one. Lol

Whenever I drive by downtown, I never notice these buildings.

Which part of Downtown are you usually in? ( even though Downtown LA isn't that big )

I hate that parking structure!!!

of course, unfinished it looks ugly. but check out the first page, first picture on this topic. it has a great blend with the street.

i can't wait until this and concerto are finished and i can walk on those currently closed off sidewalks.

of course, unfinished it looks ugly. but check out the first page, first picture on this topic. it has a great blend with the street.

i can't wait until this and concerto are finished and i can walk on those currently closed off sidewalks.

Yes, it looks fine with the finishing touches, but I'm guessing those aren't coming for sometime.

^^ agreed, but hopefully the end-product is the same.

I definitely agree that the parking levels need some architectural attention. Back when I saw the initial concept drawings, they envisioned large, thick precast concrete panels. They would be pointed vertically, and would be painted different kelp colors. After us engineers told them it would be very expensive to not only structurally support them, but for panels themselves.... they re-considered. Next was a series of horizontal thin steel tubes of differing lengths. In between would be these corrugated panels with LED lights. It sounded cool, so everyone went with that idea. You'll notice on all the exterior columns, there are all these steel embed plates littered everywhere throughout the parking levels. I guess they didn't move forward with that, and I'm not sure what the current idea is. I DO know that they have to install Something because there are these city ordinances to prevent "headlight pollution". So they'll have to at least put up panels to block headlights from the cars in the parking levels.

Meruelo Maddux Project Files Chapter 11

By DANIEL MILLER

Los Angeles Business Journal Staff

A downtown Los Angeles high-rise being built by beleaguered commercial real estate developer Meruelo Maddux Properties Inc. has filed for Chapter 11 bankruptcy protection.

Meruelo Maddux-845 S. Flower Street LLC, which controls the development at 705 W. Ninth St., filed for Chapter 11 protection on Sept. 3, according to a U.S. Bankruptcy Court filing. The project is a 36-story luxury rental building that was expected to be completed by the end of the year.

Meruelo Maddux-845 S. Flower Street LLC is controlled by Meruelo Maddux Properties, which filed Chapter 11 in March and remains in reorganization. The company was hit hard by the collapse of commercial real estate market and was unable to make payments on $266 million in debt. The project was excluded from Meruelo Maddux’s orginal bankruptcy filing.

The development, which straddles South Park and the Financial District, was planned as Meruelo Maddux’s first ground-up residential tower. Meruelo Maddux, downtown L.A.'s biggest land owner, had plans before the bankruptcy to turn much of its properties into residential developments.

The project first ran into troubles in January 2008, when the company lost construction financing. Eight months later it secured a high-interest, $84 million replacement loan from an affiliate of Century City real estate investment manager Canyon Capital Realty Advisors LLC.

Richard Meruelo, chief executive of Meruelo Maddux, was optimistic about the project's prospects in an interview with the Business Journal this summer. He said leasing would begin on the 214-unit building in January. The Sept. 3 bankruptcy filing caught lender Canyon Capital off guard.

“We are very surprised at the timing. We are disappointed that it occurred,” said Bobby Turner, managing partner of Canyon Capital Realty Advisors. He declined to comment further because of legal concerns.

Canyon Capital is in a position to take possession of the property if Meruelo Maddux cannot reorganize the LLC.

According to the bankruptcy filing, the limited liability company’s 20 largest unsecured creditors, mostly contractors that have worked on the project, are owed more than $7.5 million.

Another Meruelo Maddux entity that was excluded from the March filing, Meruelo Chinatown LLC, also filed for bankruptcy on Sept. 3.

Meruelo Maddux was immediately unavailable for comment.

So what's going to happen to 717 Ninth???

is there a revised completion date? or pace pickup or slowdown in construction?

September 9, 2009

http://farm3.static.flickr.com/2551/3904974829_9fee23bbce_b.jpg
From Flickr, by alossix

Is it dead or alive???

http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live%202/DSCN0252.jpg

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http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live%202/DSCN0270.jpg

http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live%202/DSCN0271.jpg

fancy... no longer an eyesore

Any work being done on it at this point in time?

There's nothing fancy about the podium, that's for sure.

Well, at least it's partially covered. It'd look even more ugly without it.

^ It's just as ugly, if not more.

http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live%203/DSCN0430-1.jpg

http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live%203/DSCN0426.jpg

http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live%203/DSCN0429.jpg

http://i718.photobucket.com/albums/ww181/FightOnArchies/LA%20Live%203/DSCN0434-1.jpg

Where's the freakin' waterfall design feature??? That corner of the building looks really horrible without it.

Where's the freakin' waterfall design feature??? That corner of the building looks really horrible without it.

^...gone!

Should have used the glass plating to cover the whole building, including the podium.

clearly, not finished yet.

Bankrupt Developer Submits Reorganization Plan to Court
by Ryan Vaillancourt, Staff Writer
Published: Tuesday, December 1, 2009 5:08 PM PST

DOWNTOWN LOS ANGELES – Landowner and developer Meruelo Maddux Properties submitted its Chapter 11 reorganization plan in bankruptcy court yesterday, detailing how the beleaguered Downtown-based company intends to climb out of nearly $453 million in debt.

The plan, which details hundreds of millions of dollars in claims against the company, proposes selling units in its not-yet-open residential development 705 W. Ninth St., formerly known as 717 W. Ninth St. Financed by an $84-million loan from Century City-based Canyon Capital Realty Advisors, the 35-story, South Park tower was initially planned as condominiums before switching to rentals earlier this year.

Meruelo Maddux filed for Chapter 11 bankruptcy protection in March. A separate bankruptcy was declared for 705 W. Ninth St. in September.

Meruelo Maddux is now proposing a seven-year plan to pay off its debt on the South Park high-rise through condominium sales, with units going for at least $322 per square foot, according to court filings. Canyon Capital, however, is reportedly requesting approval from the court to foreclose on the property. A decision on that request is expected this month, according to the real estate blog Curbed LA.

Meruelo Maddux and Canyon Capital officials were not immediately available for comment.

Sold? To a real estate developer in Corona?
http://blogdowntown.com/2010/04/5269-110-million-condo-sale-pending-at-705-w-9th

This building is now known as The Watermarke.

Leasing Starts at 705 W. 9th, Now Called 'The Watermarke'
By Eric Richardson
Published: Tuesday, April 27, 2010, at 02:03PM

blogdowntown
Leasing began Monday at the 35-story 705 W. 9th, Downtown's tallest residential tower. The building is now called 'The Watermarke.'
DOWNTOWN LOS ANGELES — One week after a bankruptcy judge approved its sale, leasing began yesterday in Downtown's tallest residential tower. The 35-story 705 W. 9th, now known as The Watermarke, offers 214 units at prices ranging from $2286 to a touch over $10k.

The building was developed by Meruelo Maddux, but the nearly-completed structure has sat empty since it was put into bankruptcy in September. Last week Judge Kathleen Thompson approved a $110-million sale that put the building in the hands of Corona-based Watermarke Properties.


The company wasted no time in getting activity underway, opening the doors to walk-ins on Monday and launching a leasing website for the building.

The building's biggest selling point is its views, which wrap 360-degrees above floor 21. Corner units feature large glass-walled balconies. A seventh floor amenities level offers a sizable lap pool, hot tub and gym. Watermarke is adding new amenities including a spa, movie room and outdoor fire pits.

Rents in the building will be among the highest Downtown, starting at $2286 for an 862-square-foot one-bedroom loft, pro-rating in three months free. At regular price, that would put the unit at approximately $3.50 per square foot.

Penthouses range from 2,698 to 2,894 square feet, and are currently being offered for rents starting just over $10k.

Just a block away, 717 Olympic entered the market in May of 2008 at similar prices. While it did take time, the building is now fully leased.

A leasing agent said today that walk-ins have been steady, with the first few deposits being taken today. Move-ins can begin May 1, though it may be two or three weeks later that construction wraps on upgrades being made to the common areas and all the window treatments are installed.

what's with the unnecessary E at the end of Watermarke, we're not british, there's no need

I don't knowe ...

thats a great building !

Walking by the Watermarke the other day and noticed the contemporary home furnishings store is gone. A new restaurant coming perhaps?

yes, the contemporary home furnishings store is moving to the corner of spring and 7th i believe and a new restaurant from the owner of Mi Piaci in Pasadena is coming to that spot. its supposed to be the bottega louis of that area.

Nice; little by little.

That home furnishing store was actually really cool. I walked in there one day and they had a lot of really pretty glass pieces.

Now if only the podium would get worked on.