Location: 8th Street and Grand Avenue
Function: Mixed-Use | 875 Units | 36,000 SF Retail
Developer: Astani Enterprises (http://www.astanienterprises.com/)
Architect: N/A
Completion: N/A

Eighth And Grand

Designs for a $500 million project proposed for a parking lot at Eighth Street and Grand Avenue should be complete by the end of the year, said a spokesperson for developer Astani Enterprises. The project is at least 18 months from breaking ground; it would feature more than 875 units and 36,000 square feet of retail. It is expected to grow in three phases. - Los Angeles Downtown News

http://img.photobucket.com/albums/v600/rpulido/8th%20and%20Grand/8grand1copy.jpg

http://img.photobucket.com/albums/v600/rpulido/8th%20and%20Grand/8grand6copy.jpg

http://img.photobucket.com/albums/v600/rpulido/8th%20and%20Grand/8grand7copy.jpg

http://img.photobucket.com/albums/v600/rpulido/8th%20and%20Grand/8grand2copy.jpg

http://img.photobucket.com/albums/v600/rpulido/8th%20and%20Grand/8grand3copy.jpg

http://img.photobucket.com/albums/v600/rpulido/8th%20and%20Grand/8grand4copy.jpg

http://img.photobucket.com/albums/v600/rpulido/8th%20and%20Grand/8grand5copy.jpg

http://img.photobucket.com/albums/v600/rpulido/8th%20and%20Grand/8grand8copy.jpg

This mega project will be very refreshing to the area. I am really hoping for this one to break ground soon since it's a couple of project within one mega project. I always wonder why the silver building shows a huge light reflection from above. My understanding is the Downtown is situated as an LAX route for planes. So the questions is, the light reflecting from this building will not distract commercial aviation in the air?

According to the LA Downtown News, this one is at least 18 months away from breaking ground. On top of that, it'll be constructed in three seperate phases. Expect this one to take forever to complete.

... until March 2009! that's really too long for groundbreaking.

... until March 2009! that's really too long for groundbreaking.

Hopefully they start before the downtown market feels the pinch of the housing bust. Right now let's just hope they get park fifth up and running before investors throw in the towel.

Hopefully they start before the downtown market feels the pinch of the housing bust. Right now let's just hope they get park fifth up and running before investors throw in the towel.

^ Doubt it that Downtown market would stop at a hault overnight. There's too much money being invested and you can never have enough housing especially in a world class city like Los Angeles!

Does anyone know the status of this beautiful project? It is one of my favorites by far.

^ How about reading the project description at the top. ;)

18 months isn't so bad I guess. Is it being redesigned or downsized or something? I hope the changes aren't that drastic. I really like it the way it is in the renderings above.

Concerto's (which seems to be Astani's largest project to date) rate and pace of rentals/condo sales will probably be the determining factor to how this project pencils out. Around May 2009 Concerto's first phase should be completed and this one should hopefully start around that time. If they dont build all 3 structures I really hope they just build the 15 story structure that thing is massive and really eccentric.

What happened with this?

this is my favorite project of them all and im sure its on the shelf now.

Ya I loved this project since it first appeared but haven't heard anything about it in a while.

What happened with this?

If you read the article from the LA Times last week about the developer he will consider it a success if the Concerto project doesn't throw him into bankruptcy. I would not be expecting phase two of Concerto or the start of any other new project any time soon.

Here's the link to the article: http://www.latimes.com/business/la-fi-condos23-2009apr23,0,4519578.story

^^That's a damn shame.:(

Very nice project, good for Los Angeles.

I read in the Downtown News Quarter Update that Astani is remodifying this project from 37,25,15 story structures to 53 & 14 story res buildings and a 2 story commerical building. Dont know how true it is but that would be a nice addition even though im gonna miss the wavy 60ish structure.

So that means "skyline update"...That's great...:)

From SSP:

Some interesting - and potentially good - news from the Los Angeles Business Journal (http://www.labusinessjournal.com/news/2010/dec/13/koreatown-property-fuels-downtown-ambitions/).

Koreatown Property Fuels Downtown Ambitions
Sonny Astani to use $11.5 million to pay for new high-rise project.

By Max Zimbert
Monday, December 13, 2010

Developer Sonny Astani has sold a Koreatown apartment building for $11.5 million to billionaire real estate investor Donald Sterling – with plans to use the proceeds for a new downtown L.A. project.

The 66-unit building at 457 S. Manhattan Place fielded 17 bids, but Sterling was able to close the deal quickest. Astani said he met with Sterling, who bought the building in cash after a 90-minute meeting.

The sale comes as Astani readies to sell his Concerto condo project in downtown after a lengthy battle with Starwood Capital Group. The investment firm owns the construction loan on Concerto after purchasing part of the portfolio of Corus Bank, which was seized by regulators and was Astani’s original lender.

The $11.5 million in proceeds are only a fraction of what Astani would need for his latest plan: a two-building, high-rise condo complex at Eighth Street and Grand Avenue. The property, now a parking lot, is already entitled for 900 units. Astani said the project would be further funded by proceeds from the stalled Concerto project, which he would like to sell for $200 million (netting less once various encumbrances are paid).

A combination of factors, including available construction financing and a pickup in downtown condo unit sales, means it’s time to build again, he said.
“You have all these elements happening at the same time; on top of it, it’s an L.A. market that’s healthy with rentals,” he said. “I don’t see things going though the roof in several years, but there’s enough for professionals who are their own builders.”

Neither Sterling nor a representative of the Sterling Family Trust returned calls seeking comment. Ron Harris of Marcus & Millichap represented the buyer and seller.

:banana::banana::banana:

WOOHOOOO!! I soooo hope that they keep the original funky design (15, 24 & 38 story structures) that was sooo kick-ass and wouldve definitely cemented that block and surrounding areas, but I did read back in the day that Astani had resubmitted plans to modify the project to a 14 & 53 story res. with a 2 story retail bldg instead. :ohno: I hope Astani is ambitious enough to just go thru with the old plan even though a 53 story res doesnt sound that bad for that part of DT and would be a good counterpoint for the Ritz. Now if we could just see whats up with the Park Tower & 8th/Hope (another two of my fav proposals)! either way perfect news to see that a developer is still bullish on the DT economy with a long term vision. :)

Only 3 years and 3 months later! This one gives me some hope since Astani is clearly committed to DT and seems to be putting funding together.

I guess the Clips have 11.5M less for basketball operations. Not that Sterling was going to spend any of it.

A couple of more thoughts: this would be the tallest building that far east, even if only the 35 story one goes up (I thnk). Main, Bway and Hill don't have as many issues with large vacant lots (or highrises) since they were densely filled under the old height laws and this one gobbles up a huge one between Grand and Olive. It also addresses Grand and 8th both of which need help and are logical for in-fill as well.

The whole jewelry district around the corner has huge potential. In general, beautiful old buildings and businessmen that should be able to adapt to increased housing and money (that's what businessmen do). Maybe not all jewelry stores. How about design, home furnishings, etc.?

Is this project canceled?

Is this project canceled?

Because you asked, it officially is. Finally we can start posting the backlog of news about this projects cancellation now that someone has asked! Thanks man, all these saved news links are really starting to become to much to handle.

^^ One problem is that current projects are listed in "Development News", which is a subsection within a subsection, and they are thus secluded from the casual person who might come to browse this subforum. On the other hand, subsections like "Projects" and "Our Buildings" highlight projects that are either stale or cancelled proposals, or are completed. The prominence given to these old projects is why people keep commenting on them.

First the good news: 8th and Grand lives!

Now the bad: It will be 7 stories. Which isn't exactly bad as seven stories is still a nice size.

But there is more good news: It's still going to be a large project.

The Developer proposes to develop the revised Project in two phases as follows:

Phase I. Phase I will be located on the west side of the Site fronting Grand Avenue and a portion of Eighth Street. The 7 story building will contain 240 residential units on 208,370 square feet of floor area, and 16,085 square feet of neighborhood commercial retail uses, including approximately 2,425 square feet of restaurant space.

Approximately, 26,180 square feet of open space will be provided partially within private balconies and an elevated courtyard.

One and one half levels of parking will be provided with the first level located at grade and one subterranean level below. Vehicular access for the subterranean level is proposed to be exclusively located at the northern portion of the Site at Grand Avenue, while vehicular ingress and egress for commercial and guest parking is proposed off of Eighth and Olive Streets.

Phase II will occupy the remaining portion of the Site (on the east), and will front Olive Street and a portion of Eighth Street. The proposed building will contain 460 residential units on 359,260 square feet of floor area, and 13,165 square feet of neighborhood commercial retail uses.

Approximately 49,955 square feet of open space will be located within two elevated central courtyards, private balconies, fitness room and within the rear yard. Three levels of parking will be provided with the first level located at grade and one and one half subterranean levels below. Vehicular access will be the same as the Phase I.

The Developer’s goal is to bring a small neighborhood-serving grocery market to the commercial space in Phase I.

The Developer proposes to provide approximately 77,000 square feet of open space. Once complete, this open space will consist of two central courtyards (serving Phases I and II) with landscaped open/gathering spaces and private balconies. The central courtyard of Phase I will be mostly open and will feature a pool located at the northern portion of the Site.

Phase II will extend the courtyard and feature an additional pool as well as a spa and a large landscaped area. These amenities will be available to all Project residents. An additional landscaped area will be provided within the rear yard of Phase II and serve as additional open space. Further, the proposed Project will have 254 trees. A fitness room/gym of 7,300 square feet is also envisioned.


http://blogdowntown.com/2011/12/6524-astanis-8th-and-grand-set-to-move-forward

7 stories seems to be the new "black" these days. I guess the reality is that downtown is going to be predominantly on the low end of mid-rise and rental. But, as soup notes, it's going to take up some space in what should become a thriving urban area.

Hope it shows some respect for the style of the neighborhood.

254 trees....that sounds good

this was by far my favorite proposed project in downtown and i was really hoping it would get built as originally planned, but reality has hit!

Either way, im still holding out hope that its at least visually appealing, non stucco because its such an important parcel. Hopefully this will be the first domino in the area that has WAY WAY WAY to many parking lots, garages and deadzones. 8th street has so much potential, as does the jewelry district so this is a good first step. Hopefully the project can bring a world market / fresh and easy to the area as well as small restaurants. Also, bringing in 1000 or so new residents is a HUGE gain for the area.

First the good news: 8th and Grand lives!

Now the bad: It will be 7 stories. Which isn't exactly bad as seven stories is still a nice size.

But there is more good news: It's still going to be a large project.



http://blogdowntown.com/2011/12/6524-astanis-8th-and-grand-set-to-move-forward

PICS or GTFO

Its better than a parking lot that's for sure. Hopefully some of the downtown parking lots could be potential parks as well.

And I hope this project will be built soon considering L.A. has a habit of taking forever when breaking ground on a project.

LA can reallly use a nicely-finished low-rise project to act as land fill up-it's that or nothing!

Thought i would share this nice little quote from Astani...

http://www.ladowntownnews.com/news/s...871e3ce6c.html

"As the recession recedes, the challenge for a new generation of developers will be to make these buildings less ‘Irvine' looking, more ‘global city' looking," Astani, who was traveling in Asia, said in an email."


and this tidbit

Financing for Angelena will be in-house, and includes $50 million already attached to the project, Astani told Los Angeles Downtown News. The project will eschew the wood framing and stucco that is common in low-rise apartment complexes and instead will employ glass, concrete and steel.

while we would all like the original project to move ahead, at least this wont be crap. i, for one, would love to have 10 Astanis developing in downtown right now.

as an added bonus, i will be able to provide a lot of updates on this project as its right outside my window

Too bad about this promising one being given the chop. Here's the details: (PDF)
http://api.viglink.com/api/click?format=go&key=cdee124b11d6baacda6c3e29b12e23dc&loc=http%3A%2F%2Ftheurbanobserver.com%2F2011%2F12%2F14%2Fcra-to-consider-astanis-scaled-down-plans-for-8th-grand%2F&v=1&libid=1324066861422&out=http%3A%2F%2Fwww.crala.org%2Finternet-site%2Fmeetings%2Fboard_Agenda_2011%2Fupload%2Fdec_15_2011_item_2.pdf&ref=http%3A%2F%2Fwww.google.com%2Fimgres%3Fq%3D8th%2Band%2Bgrand%2Bastani%2Bdevelopment%26hl%3Den%26safe%3Doff%26gbv%3D2%26biw%3D1366%26bih%3D622%26tbm%3Disch%26tbnid%3D7Gq8VGy5rJeREM%3A%26imgrefurl%3Dhttp%3A%2F%2Ftheurbanobserver.com%2F2011%2F12%2F14%2Fcra-to-consider-astanis-scaled-down-plans-for-8th-grand%2F%26docid%3DIDzx9XptvqYUAM%26imgurl%3Dhttp%3A%2F%2Ftheurbanobserverdotcom.files.wordpress.com%2F2011%2F12%2F8th-grand.jpg%25253Fw%25253D325%252526h%25253D320%26w%3D325%26h%3D320%26ei%3DFqjrTvWkEYXjiALV7cH9Aw%26zoom%3D1%26iact%3Dhc%26vpx%3D487%26vpy%3D132%26dur%3D7846%26hovh%3D223%26hovw%3D226%26tx%3D126%26ty%3D101%26sig%3D110012653573238352250%26page%3D1%26tbnh%3D133%26tbnw%3D134%26start%3D0%26ndsp%3D23%26ved%3D1t%3A429%2Cr%3A2%2Cs%3A0&title=CRA%20To%20Consider%20Astani%E2%80%99s%20Scaled%20Down%20Plans%20For%208th%20%26%20Grand%E2%80%A6%20%C2%AB%20The%20Urban%20Observer&txt=CRA%20Memorandum&jsonp=vglnk_jsonp_13240670999734





.

Its better than a parking lot that's for sure. Hopefully some of the downtown parking lots could be potential parks as well.

And I hope this project will be built soon considering L.A. has a habit of taking forever when breaking ground on a project.

Plenty of room for parks and towers lol:

http://theurbanobserverdotcom.files.wordpress.com/2011/10/parking-lots-south-park1.jpg
http://theurbanobserver.com/2011/10/18/sale-expected-soon-on-south-park-site/

Lol! Yes, lots of room!

Which is why I scoff at those who moan and groan that this should've been taller. It isn't as though DTLA has no shortage of parking lots where something tall could be built on. 7 stories is not short at all.

78 towers...

the good thing is that a significant portion of those lots have projects planned and / or approved. now all we need is for the banks to release capital.... slowly but surely

Status of this project?

It starts construction tomorrow. Go down there. Take lots of pics. Knock yourself out. Have a blast.

....Are you enjoying yourself?

Immensely.

I didn't expect a sarcastic member to just blatantly lie to a curious member. I didn't know it was illegal to ask of the status if it was on hold, under construction or cancelled.

Common sense should tell you that considering that there is pages and pages of info for different projects, chances are very high that if any new news breaks for any project ANYWHERE ON EARTH, it will be posted.

In other words, don't bump threads unless you have information of a project, or something to add to a conversation. Simple as that.

Someone who doesn't go on these forums often wouldn't know that. Look at the other projects on the LA forums. Some of those have been completed and never built, why do they continue to haunt the forums?

"Some of those have been completed and/or never have been built,"

Or ...

"Some of those have been completed or have never been built,"

Someone who doesn't go on these forums often wouldn't know that. Look at the other projects on the LA forums. Some of those have been completed and never built, why do they continue to haunt the forums?

Mojeda, I understand why the others got annoyed with you...it's not helpful to resurrect a bunch of very old threads just to ask other forumers for an update...if there were any news that any of us was aware of, it would have been posted already. So, when someone posts something in these old threads, we look there expecting new news, not just a question about a status update. When that happens in multiple threads, people may get annoyed. Don't take it personally...I know you have posted some great updates before, like a recent one on the Broad Museum.

However, I understand one reason for your confusion in regards to these stale projects. A few months ago, our forum was reorganized, but some of the changes have been unintuitive. For example, we have a section called "Development News"...then for some reason, there is a subsection within this section also called "Development News." The stale proposals are more prominently featured in the former section, while the more current projects are somewhat hidden away in the latter. A solution to this may be to eliminate the latter subsection, and perhaps to create a new subsection for stale proposals instead.