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Old March 25th, 2008, 05:58 AM   #181
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March 24, 2008

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Old March 30th, 2008, 01:44 AM   #182
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Originally Posted by Wolverineman View Post
As you can see from this picture taken from the roof of the LA Live building Wednesday I think we are looking at the manlift tower to the left. The top level is level 9. The steel will rise 2 more floors then it's back down to erect the steel on the plaza levels of 2,3,and 4 above that wood deck after it's poured. Concrete needs to be poured before the steel can rise any higher. You can see that the building still extends to the south. It looks like that will take place next week. For sure you'll be able to see the building on the web cam soon.

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Old March 30th, 2008, 01:45 AM   #183
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Old April 7th, 2008, 04:58 AM   #184
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April 6, 2008



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Old April 7th, 2008, 05:24 AM   #185
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It's coming along pretty nicely! I can't wait until it starts showing up in the skyline.
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Old April 25th, 2008, 01:55 PM   #186
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Passed by the convention center hotel today, snapped a picture. I assume it's the ballroom(s) in the foreground. What I don't get is why the beams are angled. I don't see anything like that in the renderings. Is there a render of that side of the building?

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Old April 25th, 2008, 02:47 PM   #187
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we have a few ritz carltons here. they look familiar to this one!
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Old April 26th, 2008, 03:35 AM   #188
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Ritzy Business

Sales Strategy at Ritz-Carlton Residences, Where Penthouses Go for $9 Million, Is Built Around VIP Status

By Richard Guzm‡n

When construction of the 54-story Convention Center headquarters hotel is completed in 2010, the 224 Ritz-Carlton Residences at L.A. Live, which will occupy the upper 27 floors of the building, will undoubtedly offer tenants a memorable view.

But with prices starting at $1.4 million and stretching all the way to $9 million for each of the 12 penthouses, the well-heeled residents will want more than an impressive vista.

That makes the science of selling the Ritz residences different than marketing any other Downtown Los Angeles condominium complex. So rather than just square footage, the pitch - to a segment of the market not heavily impacted by the housing crisis - is built around VIP status. The sales team eagerly talks up the fancy Gaggenau appliances, the maid and concierge services, the fitness center and a parking spot (with valet service, of course), as well as the chance to snap up basketball and concert tickets before the masses.

The entire tower is a 2 million-square-foot project on 2.5 acres of land. In addition to the Ritz residences, the building will include an 878-room JW Marriott hotel and a five-star Ritz-Carlton hotel with 123 rooms. The Ritz condos will start on the 27th floor.

The $900 million hotel/condominium tower is being developed by Anschutz Entertainment Group (with a significant investment from MacFarlane Partners), the developer of L.A. Live. The building has long been viewed as the anchor for the 27-acre sports and entertainment district in South Park.

AEG last week opened a marketing suite to give prospective buyers an idea of what their millions would buy. However, officials were quick to point out that the suite, in the Petroleum Building at 710 W. Olympic Blvd., is not representative of the floor plan. Instead, it is intended to highlight the choices in upscale fixtures, custom cabinetry, appliances and flooring, including imported stone and wood.

Not a Typical Sale

It is safe to say that the Ritz sales strategy is unlike others underway in Downtown. There are no balloons to mark an open house or kids twirling signs on street corners. Instead, the initial push has been through word of mouth and personal connections, many tied to AEG.

"We were fortunate in that just through our friends and family we have two-thirds of our units sold," said Tim Leiweke, president and CEO of AEG. "We opened up our database, people that work in the organization, people that work with the organization, so we had a lot of those kinds of people buying and then just people that knew we were building the Ritz condos."

The units will range from about 1,000 to 4,000 square feet for one, two and three bedrooms with 10-foot high ceilings. The penthouses will range from 2,100 to 5,500 square feet. The architecture firm Gensler is designing the tower while the modern look of the condo interiors is being handled by the design firm BaMo.

Leiweke said the condos will offer services associated with the Ritz hotel brand, meaning residents will be able to utilize 24-hour room service, valet parking and housekeepers. "They make the bed for you if that's what you want," Leiweke said.

Laurie Miskuski, director of sales and marketing for AEG, said Ritz residents will get preferred access to rooms (and rates) at Ritz hotels in other cities. Additionally, they will have the opportunity, before the general public, to purchase tickets to events at Staples Center and the Nokia Theatre, as well as all other venues operated by AEG, including the Home Depot Center in Carson.

"It puts you right smack in the heart of the entertainment district," Leiweke said, "so if you're a basketball fan, or if you're a music fan, to get first option on tickets and have a concierge that makes reservations at the restaurant, gets your tickets for you, makes arrangements, sets up parties, whatever the case may be, that's fairly unique."

No Crisis Here

Despite the economic woes powering through the housing industry nationwide, experts are not surprised that certain multi-million dollar condominiums are being scooped up.

"It's a very attractive project," said Jack Kyser, senior vice president and chief economist for the Los Angeles Economic Development Corp. "A lot of times these people have plenty of money, and from what we can see, not just in Downtown but around Los Angeles County, the high-end condo market is holding up rather well.

"These people already have significant assets and a lot of the problems in the housing market currently were caused by people stretching to get into the housing market."

Although AEG officials are tight-lipped about which big spenders have reserved condominiums, reports have circulated through real estate circles and the blogosphere. Former Laker Shaquille O'Neil has been the most frequently cited celebrity purchaser, while other unconfirmed reports have mentioned David Beckham and Kobe Bryant. At the hotel's groundbreaking ceremony last June, Gov. Arnold Schwarzenegger said he would buy a condo, though no one knew if he was joking.

Leiweke will only say that many of the future tenants are urban professionals, some who already own homes and are bi-coastal. Others, he noted, will use the condos for business.

"We're also seeing a lot of Asian buyers. We probably have two to three dozen from Korea in particular," Leiweke said.

Kyser said it makes sense for foreign business people to have a more permanent place to call home while in Los Angeles.

"South Korea is a major trading partner; they're number three with the Los Angeles area, behind China and Japan," he said. "A lot of them have made investments or have businesses here in Southern California. They're very strong in the apparel industry and you have Koreatown, which has sort of blossomed and is spreading."

Actually, AEG officials did out one buyer - Leiweke said he is purchasing one of the 224 residences, which will make his commute easy once AEG makes its previously announced move into Downtown.

"I bought a condo there, and certainly for me to know that I can walk to work every day, walk to any of the events in the entertainment district, walk to Disney Hall, it's pretty exciting," he said.

--------------------------------------------------------------------------
Source: Los Angeles Downtown News
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Old April 27th, 2008, 03:35 AM   #189
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Old May 18th, 2008, 02:00 AM   #190
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Old May 18th, 2008, 02:44 AM   #191
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Wow,..they're really going at it now (building lol). Thanks for the updates
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Old May 18th, 2008, 07:02 AM   #192
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Looking good. I wonder why didn't they have core installed first before steel beam/column rise like most of skyscrapers?
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Old May 18th, 2008, 08:06 AM   #193
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Thanks for the updates.
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Old May 29th, 2008, 05:01 AM   #194
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Old May 29th, 2008, 08:41 AM   #195
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Nice progress!!
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Old June 8th, 2008, 12:57 AM   #196
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Ritz-Carlton / Marriot
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Old June 8th, 2008, 02:00 AM   #197
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Awesome photo!

Can you explain what this whole area is being developed into? I've heard they're trying to make it the "Times Square of LA"...
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Old June 9th, 2008, 04:14 AM   #198
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Awesome photo!

Can you explain what this whole area is being developed into? I've heard they're trying to make it the "Times Square of LA"...

In order to generate interest in the project, city leaders and the developer, called it Time Square West. Of course, this could not be further from the truth. The project known as "L.A. Live" and the Nokia Center, includes two large hotels, a public square, the 8,000 seat Nokia Theatre, and when completed will house the ESPN Center, several restaurants and shops, a movie theatre, and office spaces. Because of it's location, across the street from Staples Center, home of the LA Lakers, Clippers, and Sparks, the Grammy's Show. etc, and a block from the massive Convention Center, it should do very well. The fact that a Metro Blue line train station is locate within walking distance will surely add to it's success. The project is located in the South Park area of downtown LA.
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Old June 14th, 2008, 08:50 AM   #199
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Hotel rising:
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Old June 14th, 2008, 08:51 AM   #200
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