daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > General Urban Developments > DN Archives



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old September 28th, 2005, 12:18 AM   #41
FROM LOS ANGELES
skyscraper maniac
 
FROM LOS ANGELES's Avatar
 
Join Date: Sep 2005
Location: Pico Rivera [LA]
Posts: 1,982
Likes (Received): 37

what are those four blue towers in front of the flat side of Staples Center
and what is their status?
FROM LOS ANGELES no está en línea   Reply With Quote

Sponsored Links
Old September 28th, 2005, 12:37 AM   #42
colemonkee
aimin high. shootin low.
 
Join Date: Jun 2005
Location: Los Angeles
Posts: 445
Likes (Received): 11

Those are two projects: the two rounded twin towers are part of a Williams & Dame project, and the other two towers of varied heights (the taller tower is roughly 40 stories) are part of a Lennar project. Both are in the proposal phase and have not received permits to start building yet. I would expect the Williams & Dame towers to start sooner, seeing that their South project seems to be moving along very quickly. But even those I wouldn't expect to start construction until mid 2006 at the very earliest.
colemonkee no está en línea   Reply With Quote
Old October 5th, 2005, 02:49 AM   #43
SantaMonicaCA
Registered User
 
Join Date: Sep 2005
Posts: 24
Likes (Received): 0

Oh God! Los Angeles is going to change a lot. Downtown LA will look re ally nice, with all these projects LA is going to have a real city center and I think it will be the best DT in America after NY
SantaMonicaCA no está en línea   Reply With Quote
Old October 8th, 2005, 02:13 AM   #44
LosAngelesSportsFan
Moderator
 
LosAngelesSportsFan's Avatar
 
Join Date: Oct 2004
Location: Los Angeles
Posts: 3,961
Likes (Received): 858

Metropolis is approved!! For out of towners, its an area that is between the current skyline and Staples center, close to the freeway. it will replace a big parking lot and a couple of low rise structures. Its four towers of 30, 42, 46 and 55, with plenty of retail and is suppose to extend the LA Live entertainment district north from Stapels into the core of Downtown!

CRA Approves 836-Unit Metropolis Project

After 14 years of stops, starts and plan changes, the Community Redevelopment Agency has approved the master plan for the Metropolis project at Ninth and Francisco streets in South Park. The City Centre Development company plans to break ground in June on the 6.3-acre mixed-use complex that will unfold in four phases, the first of which will include a 30-story building with 360 condos and 17,867 square feet of retail. Phase two calls for a 46-story structure with 388 condos and 17,133 square feet of retail. The third phase envisions 88 condos in a 55-story hotel/residential tower with 480 rooms. The final element is a 42-story office tower with 11,000 square feet of retail. A large-scale public art project will also be included. When first proposed in 1991, Metropolis was an all-office and retail development but was sidetracked when the office market stagnated. "I think it's an improved design," said CRA project manager Lillian Burkenheim. "It's much more welcoming. The original project had retail below grade, but now it has an open plaza, outdoor seating and a park." The City Council must approve the final design.

page 2, 10/10/2005
LosAngelesSportsFan no está en línea   Reply With Quote
Old October 8th, 2005, 11:14 PM   #45
soup or man
Avant Garde
 
soup or man's Avatar
 
Join Date: Nov 2004
Location: Chicago, Illinois
Posts: 3,758
Likes (Received): 864

^ Finally. Just have to wait for the approval for Grand Ave then the big 3 will reshape DTLA.
__________________
Far from basic.
soup or man no está en línea   Reply With Quote
Old October 13th, 2005, 02:09 AM   #46
LosAngelesSportsFan
Moderator
 
LosAngelesSportsFan's Avatar
 
Join Date: Oct 2004
Location: Los Angeles
Posts: 3,961
Likes (Received): 858

A Complete Listing of Downtown LA Housing
I copied this from Bobcats thread at SSP. Its a complete listing of new projects as wella s conversions. The color coding did not copy over but i will try to update the colors as days go by.

Downtown LA Housing Construction: A Complete Listing

This is a complete listing for housing construction in Downtown LA.

Projects in normal type are in the planning stages.
Projects in green are under construction.
Projects in red are recently completed.

If anyone has anything to add to this list I'd appreciate it. I'll try to keep it updated as new projects are announced.

Bunker Hill/Financial District

The National 99
Colburn School
Grand Avenue Plan 2600
Library Court 90
Metro 417 277
Pegasus 322
Roosevelt LA Lofts 222
Total: 3610 2921 90 599

Chinatown/Civic Center

808 N Spring 100
Blossom Plaza 233
Capitol Milling Building 300
Cesar Chavez Gardens 47
Da Vinci 650
Gateway Chinatown 280
Orsini II 800
Orsini III 300
Union Station Village 278
Total: 2988 1863 1078 47

City West

1100 Wilshire 228
1010 Wilshire 240
1010 Wood 61
Coronita 21
Emerald Terrace 85
Fifth and Bixel 80
The Flats LA 205
Fourth Street Lofts 10
Hartford Project 54
James Wood Apartments 61
Lorenzo 600
Mayfair Hotel 250
Northwest Gateway 276
Pacific Exchange 850
Piero 225
Seven West 62
Skyline Village 73
Union Point 21
Villa Verona 234
Visconti 297
Wilshire Court 201
Total: 4134 2576 1260 298

Historic Core/Fashion District

308 E 9th St 38
810 S Spring St 93
Mercantile Arcade Building 143
Bartlett Building 140
Barry's Lofts 280
Broadway Exchange 69
City Front Place 135
City Lofts 35
City View Lofts 44
Douglas Building 50
El Dorado Hotel 65
Judson Rives Building 60
Lofts at the Security Building 153
Main Mercantile Building 40
Main Street Apartments 135
Medallion 375
Pacific Electric Building 314
Pan American Lofts 40
Rowan Building 209
Santa Fe Lofts 103
Santee Court I 165
Santee Court II 299
Santee Court III 80
ShyBarry Lofts 84
Title Guarantee Building 74
Tomahawk Building 7
Vibiana Place 180
Victor Clothing Lofts 38
Zen 302
Total: 3750 1750 749 1419

Little Tokyo/Arts/Industrial

Alexan Savoy I 303
Alexan Savoy II 117
Alexan Savoy III 210
Barker Brothers Building 230
Biscuit Company Lofts 104
Bridge Lofts 8
G8tway LT 750
Molino Hewitt Gallery Lofts 297
Molino Street Lofts 30
Santa Fe Yards 400
Sci-Arc Lot 300
Second and Central 128
Sixth Street Lofts 63
Sky Lofts 125
Teramachi 127
Toy Factory Lofts 119
Total: 3311 2437 755 119

South Park

801 Grand Lofts (Sky Lofts) 132
1100 Grand Lofts 66
Broadway Plaza Lofts 82
Brockman Building 80
Chapman Building 168
Coulter and Mandell Building 55
Eastern Columbia Building 147
Elleven I 176
Elleven II (Luma) 236
Elleven III (Evo) 311
FIDM 110
Gas Company Lofts 251
Glass Tower 128
Grand Ave Apartments 62
Hanover Tower 156
Herald Examiner Building 589
Hope Lofts 200
LA Live 1000
Metropolitan Lofts 264
Metropolis 836
Ninth and Figueroa 629
9th/Flower 214
Olive Street Lofts 105
Olive Street Tower
Packard Lofts 116
Reserve 79
South 648
South Village II 267
South Village III 152
South Village IV 520
Trammell Crow Tower 200
The Union 91
Venture 700
Total: 8770 6666 1787 317



GRAND TOTAL: 26563 18045 5719 2799
LosAngelesSportsFan no está en línea   Reply With Quote
Old October 13th, 2005, 06:23 AM   #47
p5archit
Registered User
 
Join Date: Feb 2003
Location: Toronto, Vienna, Amsterdam
Posts: 533
Likes (Received): 1

I find the nokia building boring, but the condo which is being designed by RTKL and the convention centre additions look really good! I am sure these will be nice additions to the downtown area-especially considering so much of the area is filled by largely dark buildings= from mid greys to dark brown..

Nice to see that LA is really striving to get its issues in order..and by creating more residential space in the downtown area, they are certainly taking a step in the right direction!

p5
p5archit no está en línea   Reply With Quote
Old October 15th, 2005, 03:34 AM   #48
LosAngelesSportsFan
Moderator
 
LosAngelesSportsFan's Avatar
 
Join Date: Oct 2004
Location: Los Angeles
Posts: 3,961
Likes (Received): 858

more on metropolis...

The Return of Metropolis

Nearly 20-Year-Old Project Morphs Into $800 Million Residential Hub

by Kathryn Maese

After 17 years, an office market crash and two lawsuits, John Vallance has learned a few things about patience. Finally, the patience appears to be paying off.
After nearly two decades, developers of the Metropolis project say the $800 million complex is finally moving forward. They say it could break ground next year on this site a block from Staples Center. Photo by Gary Leonard.

Vallance's Los Angeles-based firm, City Centre Development, is moving forward with an ambitious, $800 million-plus project that has been the subject of much speculation, and equal amounts of skepticism. If all goes according to the current plan, the project could break ground by next summer on a 6.5-acre vacant lot one block from Staples Center.

Once planned as a multi-tower office complex, the so-called Metropolis has been retooled as an 836-unit condominium and hotel development set to unfold in five phases. IDS Real Estate Group is partnering on the deal.

The Community Redevelopment Agency (CRA) approved the project on Oct. 6 and all Metropolis needs is a green light from City Council, which the developer expects by year's end. Vallance said timing - and hefty financial backing from IDS (it invests for clients such as CalPERS) - is finally on its side.

"When we introduced the project in 1988 there was a strong office market," Vallance said last week. "By the time we got approved five years later there wasn't. Our hands were tied because our entitlements didn't allow us to capture the market. When it changed dramatically we had to wait because we didn't have residential approvals. Now we have that and we are on a roll."

Designed by Gruen Associates, the project site is a collection of surface parking lots between the 110 Freeway, Francisco Street, James M. Wood Boulevard and Eighth Street. Immediately northwest across the freeway is the sprawling Medici residential complex.

Phase one of Metropolis, which fronts James M. Wood Boulevard next to the freeway, will feature a 30-story condo tower with 360 units and nearly 18,000 square feet of retail on the ground floor. Sketched out for the second phase is a 46-story high-rise with 388 condos and 17,000 square feet for shops and entertainment venues.

The structures will be linked via an open plaza, where the developer will invest a 1% public art requirement in "a spectacular art program... to be the focal attraction to the project," according to CRA documents. While the previous plan looked inward, the new version will enliven zigzagging Francisco Street with pedestrian-friendly cafes and retail. An environmental review on the project's impact to the surrounding community was completed shortly after Metropolis was proposed (two lawsuits concerning traffic were dismissed at the time, though they delayed the approval process).

"We want something complementary to draw people to the site," Vallance said. "We're hoping it's something that is more than just static."

The most dramatic element is the project's third phase, a 55-story hotel topped with 88 condos. As tall as the planned 1,100-room Convention Center headquarters hotel a block away, the Metropolis structure would include 480 rooms set back along Eighth Street.

The final structure is a 42-story tower with 800,000 square feet of office space and 11,000 square feet of retail. Vallance said plans for the two latter stages could switch to housing if demand for hotel and office space lags in the next five to 10 years.

"We're working on the hope that it will improve," Vallance said. "This is a long-term project and anything can happen over that period."

Mark Tarczynski, a broker with CB Richard Ellis, said the move to build office and hotel space in a few years makes sense, particularly with the $412 million Convention Center hotel set to open in 2009.

"The demand for convention quality hotel rooms is going to balloon," he said. "At some point, [revenue per available room] for hotels will increase markedly and make new hotel construction profitable."

Likewise, the housing boom is creating hundreds of upscale units for office workers that will make living and working in the city attractive.

"I really see a spike in office rents and demand in the not-too-distant future," Tarczynski added. "Back in the early and middle '90s, we had the best office stock in California. But companies don't come down here because CEOs in C-level suites live on the Westside and no one wants to drive Downtown. Now we're seeing executive level housing becoming available, workers are aging and their kids are moving out. Companies will begin migrating to Downtown."

South to North


When City Centre Development first proposed Metropolis, no one had any idea that Downtown's development would concentrate in the gritty South Park area. Back in 1988, Staples Center was still more than a decade from happening.

Nor did the company know that it would be sitting on what would come to be a veritable gold mine - one of the last vacant parcels near the coming $1.5 billion sports and entertainment district known as L.A. Live. The company completed land assembly by early 2000, with the help of the CRA on one parcel at Francisco and Eighth streets, for a total of $70 million. The notion that trendy clubs, theaters and restaurants would rise around Olympic and Figueroa was unfathomable, as was the forest of luxe, high-rise residences cropping up in the district.

"It's just gravy that Anschutz Entertainment Group is doing what they are doing a block away," Vallance said. "When we bought this property we never expected that development would come from the south to the north. We though it would come from the north on Bunker Hill. But we're glad to be squeezed in between this area near L.A. Live. It's a good place to be."

Tie-ins to L.A. Live will be evident in Metropolis, said Christopher Coe, a partner with architect Gruen Associates. He said the firm is "very aware" of AEG's designs and has built scale models to link L.A. Live with Metropolis' own dining, retail and entertainment venues along the street.

"The buildings will be very contemporary with modern amenities and strong character," Coe said. "It's a prominent site that deserves attention amongst its high-profile neighbors. There is a certain competition in all these developments."

Still, the developers continue to face a healthy dose of skepticism after the project's long and rocky history. Metropolis is also one of the largest mixed-use projects being proposed Downtown, and contains many variables subject to the direction of market winds.

Much like the rapidly changing office market that sidelined Metropolis more than a decade ago, City Centre Development could face the specter of another shift. Housing appreciation and sales have begun to slow over the last year, and an endless parade of experts continue to debate whether a housing bubble will deflate.

Vallance dismissed the notion, and the skeptics, saying the demand for housing in Downtown is stronger than ever, and will be bolstered by the arrival of more amenities such as L.A. Live and a supermarket.

Beleaguered by bad timing, numerous plan amendments and city bureaucracy, Vallance said Metropolis' time has finally come.

"City Centre Development and IDS are spending a lot of money right now to move forward. This is a for-sure deal," Vallance said. "We're sitting on a large piece of property, at great expense, and are anxious to get started."
LosAngelesSportsFan no está en línea   Reply With Quote
Old October 18th, 2005, 10:36 PM   #49
soup or man
Avant Garde
 
soup or man's Avatar
 
Join Date: Nov 2004
Location: Chicago, Illinois
Posts: 3,758
Likes (Received): 864

LA Live will (Finally) start construction this month. But sadly, the 55 story Hilton won't start until September 06. But LA's big three (LA Live, Grand Ave, and Metropolis) should all be finished by 2010.
__________________
Far from basic.
soup or man no está en línea   Reply With Quote
Old October 26th, 2005, 10:40 AM   #50
LosAngelesSportsFan
Moderator
 
LosAngelesSportsFan's Avatar
 
Join Date: Oct 2004
Location: Los Angeles
Posts: 3,961
Likes (Received): 858

Builders Plan 2 Downtown Condo Towers
# KB Home and Lennar Corp. envision 700 units plus 25,000 square feet of retail space across from Staples Center. Work is to begin in June.

By Annette Haddad, Times Staff Writer

Two of the nation's biggest home builders will announce plans today to develop one of the tallest condominium projects in downtown Los Angeles, underscoring the area's renaissance in urban living and entertainment.

The proposed project — comprising 700 units in two buildings of 40 and 27 stories across South Figueroa Street from Staples Center — will add to downtown's high-end housing boom.

The high-rises also will further remake the city's skyline, moving it closer to the type of tableau found in such cities as Chicago, New York and Boston, where residential towers are prominent.

The development by KB Home and Lennar Corp. also will add to the residential base supporting L.A. Live, a $1.7-billion tourist-oriented "sports-entertainment" hub featuring a 55-story hotel and convention center, 7,100-seat theater, broadcast facilities, a 14-screen movie theater and nearly a dozen restaurants and clubs.

Anschutz Entertainment Group, developer of Staples Center and L.A. Live, has been selling land in the area with the intent that it be used for upscale housing.

The move by the two major builders, which specialize in suburban homes, is the latest example of a burgeoning movement to develop high-density residential units on previously developed land in cities with a shortage of housing.

That trend — known as urban infill — is reaching a crescendo in downtown Los Angeles, where nearly 8,000 units in 84 buildings have been built since 1999 or are currently in the pipeline.

"If you look at the size of this city … the pure population numbers alone suggest that this market can only grow," said Carol Schatz, president and chief executive of the Central City Assn. of Los Angeles, a business advocacy group that has been at the forefront of downtown redevelopment efforts.

She hailed today's expected announcement as a major milestone for the area.

Major builders "coming in with such a mammoth project just gives further validity to the market's depth," she said.

Construction of the KB Home-Lennar project, being called Fig Central for its location on Figueroa between 11th and 12th streets, is expected to begin in June, KB Home executives confirmed Tuesday.

At the base of the towers will be 25,000 square feet of retail space to be developed by LNR Property Corp., a real estate investment and management company that was once a part of Miami-based Lennar.

No minimum prices for the units have been set. Last month, 194 units of a new condo high-rise a few blocks from the proposed KB-Lennar project sold out in two days with an average sale price of $650,000.

The project will span four acres and include what KB Chief Executive Bruce Karatz described as an "interactive" design that will open onto the street, similar to older downtown buildings such as Grand Central Market.

At 40 stories, the taller of the two proposed high-rise condo buildings is large by condo standards but falls short of the 72-story U.S. Bank Tower — the city's tallest building — about a mile north of Staples Center.

The shift toward higher-density housing in Los Angeles has proved lucrative for developers and builders, who are finding strong demand particularly among first-time homeowners and "empty nesters" looking to downsize.

The shift also helps national builders continue to expand market share as suburban land becomes more expensive and less plentiful.

Several major builders already have entered the urban market. Miami-based Lennar is slated to build six 20-plus-story residential buildings in downtown Anaheim.

Irvine-based Standard Pacific Corp. is building a loft project near Marina del Rey, and Fort Worth-based D.R. Horton Inc., the biggest home builder in California in terms of units, has a big footprint in San Diego's downtown condo market.

For Westwood-based KB Home, the venture into downtown condo development also is part of a broader corporate plan to maintain its position as one of the nation's top five builders.

Its alliance with Lennar, to be announced today at a housing meeting hosted by Los Angeles Mayor Antonio Villaraigosa, will be the first effort of a newly created KB Home division that will focus solely on urban projects.

"Clearly, the urban core is an opportunity for many builders for a variety of reasons," said Stan Ross, chairman of USC's Lusk Center for Real Estate. "There's infrastructure there, cities are becoming more accommodating of the zoning approvals needed, and there's really a market need so the demand is extremely strong."

Now that KB Home has made a name for itself as the quintessential suburban home builder, its push into urban developments "is a natural extension," CEO Karatz said.

"There are more and more singles, single parents and baby boomers who are looking for simpler ways of living. They are making up a larger percentage of buyers of new homes," he said.

To be called KB Urban, the new unit will be run by Jeffrey Gault, an architect and longtime local developer and builder who most recently was president of privately held Empire Cos.

Still, urban building will be only a small percentage of KB Home's overall business, Karatz said. KB Home is on tap to build 38,000 homes this year and take in $10 billion in revenue, with projections of $18 billion by 2008.

KB Urban "is a nice complement" to the company's larger suburban business, he said. "You have to think about where the growth is going to come from, and this can be a piece of that growth strategy."

Lennar has moved aggressively lately into land redevelopment. Earlier this year, it won the bidding to build a new-home community at the site formerly occupied by the former El Toro Marine Corps Air Station, and has already started similar projects on military bases in the Bay Area.

Lennar executives didn't return calls Tuesday seeking comment on Lennar's venture with KB Home.

Details about financing and other terms were not disclosed.
LosAngelesSportsFan no está en línea   Reply With Quote
Old October 27th, 2005, 08:15 PM   #51
soup or man
Avant Garde
 
soup or man's Avatar
 
Join Date: Nov 2004
Location: Chicago, Illinois
Posts: 3,758
Likes (Received): 864

Here are the towers LaSportsFan posted about.

__________________
Far from basic.
soup or man no está en línea   Reply With Quote
Old October 27th, 2005, 08:39 PM   #52
Morris Leonard
BANNED
 
Morris Leonard's Avatar
 
Join Date: Oct 2005
Location: Liberty Cove
Posts: 28
Likes (Received): 0

Go LA!
Morris Leonard no está en línea   Reply With Quote
Old October 28th, 2005, 03:20 AM   #53
mongozx
Pipe Layer
 
mongozx's Avatar
 
Join Date: Sep 2005
Posts: 778
Likes (Received): 9

Good for LA! Hopefully this is barely the start of a skyscraper building boom!
mongozx no está en línea   Reply With Quote
Old October 28th, 2005, 04:59 AM   #54
LosAngelesSportsFan
Moderator
 
LosAngelesSportsFan's Avatar
 
Join Date: Oct 2004
Location: Los Angeles
Posts: 3,961
Likes (Received): 858

^looks like it! apparently, a few major developers are scouting for spots to build. Also, the buildings are getting taller and taller, from the early days of rehabing the historic buildings, and when thsoe were done we had a few 13 - 20 story buildings which are the ones under construction now, and the next phase was the 35 - 55 story range which we are in now, and a few of those break ground next year, and hopefully we will get to 60 - 75 story buildings next! all in all we have about 50 -60 13 - 55 story buildings going up in the next few years, the tallest being the LA Live hotel at around 750 feet and at least 3 other 50 story buildings and a few 40 pluses. Its looking good!
LosAngelesSportsFan no está en línea   Reply With Quote
Old October 28th, 2005, 05:11 AM   #55
spyguy
Expert
 
spyguy's Avatar
 
Join Date: Apr 2005
Location: Chicago
Posts: 6,916
Likes (Received): 97

That Hilton looks pretty sweet.
spyguy no está en línea   Reply With Quote
Old October 28th, 2005, 05:16 AM   #56
soup or man
Avant Garde
 
soup or man's Avatar
 
Join Date: Nov 2004
Location: Chicago, Illinois
Posts: 3,758
Likes (Received): 864

I would love to see at least 1 60 story building near 1100 Wilshire as well as 3 30-40 story buildings near there as well. The other side of the Harbor freeway has lots of room for devlopment.

Also, do I remember someone saying something about a lazer/light show at Arco Plaza?

What buildings are under construction as we speak? Only ones I can think of is Elleven, Luma, and the Ralph's Lofts. Oh and Packard lofts.

Also, when can we expect some renderings of Metropolis?
__________________
Far from basic.
soup or man no está en línea   Reply With Quote
Old October 28th, 2005, 05:46 AM   #57
FROM LOS ANGELES
skyscraper maniac
 
FROM LOS ANGELES's Avatar
 
Join Date: Sep 2005
Location: Pico Rivera [LA]
Posts: 1,982
Likes (Received): 37

Constructions....
I can recall Met Lofts, Elleven, The Coldburn Expantion, Packard Lofts, Ralphs Market, Luma, the demolition of what is to become the LAPD Building, the 1000 Wilshire transformation, Union Station village, Remaking of ARCO Plaza.
Grounbreakings...
Nokia Theatre, Lennar 40 and 27 story towers, Metropolis.
Almost grounbreaking...
Evo Tower, Hilton Hotel, New Courthouse, Grand Avenue Project, Zen Tower.
I hope start soon...
Hanover Tower, 755 Tower, Olive Street Tower.
FROM LOS ANGELES no está en línea   Reply With Quote
Old October 28th, 2005, 06:38 AM   #58
Dale
Registered User
 
Join Date: Sep 2002
Location: Charlotte, NC
Posts: 9,177
Likes (Received): 5505

LA Live is 750 ft. ? Seriously ?
Dale no está en línea   Reply With Quote
Old October 28th, 2005, 07:15 AM   #59
LosAngelesSportsFan
Moderator
 
LosAngelesSportsFan's Avatar
 
Join Date: Oct 2004
Location: Los Angeles
Posts: 3,961
Likes (Received): 858

i beleive so, 700 -750. i might be wrong, so dont quote me on it. Its a mix of a hotel for the first 40 - 45 stories and condos for the top. About 150 condos or so. i bet the penthouses go for a clean 15 million each.
LosAngelesSportsFan no está en línea   Reply With Quote
Old October 29th, 2005, 04:00 AM   #60
LosAngelesSportsFan
Moderator
 
LosAngelesSportsFan's Avatar
 
Join Date: Oct 2004
Location: Los Angeles
Posts: 3,961
Likes (Received): 858

here is an updated and color rendering of the new lennar project (40 and 27 stories). the two towers in the background will be 30+ stories and will brek ground next summer as well.



here is the article from the LADowntownnews.com

Two More Towers

Mega Builders Join South Park Housing Frenzy

by Kathryn Maese

The forest of residential towers being planned around Staples Center just got denser. Last week two major housing developers announced plans to create as many as 700 units in two high-rises.
Lennar Corp. and KB Home are planning up to 700 units in two towers just east of Staples Center. It's the first Downtown venture for both companies. Rendering courtesy of KB Home.

KB Home and Lennar Corp., among the biggest homebuilders in the nation, said they will partner on a 40-story and a 27-story structure on Figueroa between 11th and 12th streets across from Staples Center. Pending city approvals, the four-acre project could break ground as early as June, said KB Home spokeswoman Caroline Shaw.

"What we're really announcing is the launch of KB Urban, a concept that will help us to develop more high density projects in city centers," Shaw said. "We chose L.A. because it's in our own backyard and it's a vibrant place. We want to contribute to the Downtown revitalization."

The proposed venture, dubbed Fig Central, would add to more than a dozen housing towers in the blocks surrounding the planned L.A. Live project, a $1.5 billion entertainment district helping to fuel the area's comeback with a slate of restaurants, clubs, retail and a 1,100-room Convention Center headquarters hotel.

Last summer, a subsidiary of Lennar, Newhall Land, purchased the property from Anschutz Entertainment Group (AEG), the developer of L.A. Live. The site is one of many around Staples Center that has been sold by AEG to housing developers. The district is entitled for up to 2,000 housing units.

South Group developer Tom Cody, who purchased the sister site to the south with plans to develop 648 units in two 30-plus-story towers - he hopes to break ground in the middle of next year - said Fig Central will knit together the entertainment district with the emerging residential community.

"The plans I've seen are spectacular," Cody said. "It's an enormous endeavor and it is very complimentary from the standpoint that we want to see that retail happen. They know how to execute complicated, large-scale projects that have a positive impact on neighborhoods like this. It gives us the confidence that we are in the right place at the right time."

Like many of Downtown's new residential projects, Fig Central could include ground floor retail, in this case up to 250,000 square feet. An artist's rendering depicts a shopping area to be developed by LNR Property Corp. fronting Figueroa Street, along with mammoth billboards and television screens in keeping with the flashy L.A. Live design.

Lennar spokeswoman Marlee Lauffer would not comment on the project's specifics, saying the details of the deal are still being worked out. Lauffer, however, noted that the firm is looking to establish itself in the Downtown market, and recently opened an office in Wells Fargo Tower.

"We are getting involved in the urban market in L.A. and are excited about the great opportunities in Downtown, particularly around Staples Center," she said. "There is strong demand in the marketplace and there is great synergy occurring there."

Contact Kathryn Maese at [email protected].

page 1, 10/31/2005
LosAngelesSportsFan no está en línea   Reply With Quote


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 08:33 PM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu