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Old February 2nd, 2008, 09:17 PM   #121
TICONLA1
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No, the city hall does not have one, helicopters did not come into practical use until around 1948, and city hall went up in 1928. in the early 1960's the city lifted the 150' (12 story) maximum building height restriction, (part of the reason you could only build 12 floors was that this is the maximum that a fire truck hook and ladder could reach, the other two reasons, earthquakes, and (believe it or not) unobstructed views of the mountains) once lifted, the helicopter pad requirement was added to the building code.

In 1986 when the now Aon tower caught fire, the fire dept. could not land on the roof becouse the heat and updraft turbulance was to intense, which is totally common in such a situation, i thought the city would revise the code, but it did not.

As for the asthetics of the Park Fifth roof, i agree that it could be done better, perhaps a pad that cantalevers like on the 550 S. Hope st. tower, (one of the reasons i like that tower) but out here there is one main reason for large blank areas on top of buildings, this being, (again, believe it or not) signage.

I'm betting that if constructed, this tower will have a large offset "PF" in coligraphy, on that area.

Here's a shot of the helipad on the 550 S. Hope st. tower.

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Old April 19th, 2008, 09:05 AM   #122
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Park Fifth Secures CRA Approval

News Brief

The Community Redevelopment Agency on Thursday, April 17, granted key approvals to developers of the proposed Park Fifth project north of Pershing Square. The proposed development - to include a 76-story tower and a 44-floor tower connected by a 15-story residential building, a 212-room hotel and retail and restaurant space - is the first major project to utilize the city's Transfer of Floor Area Rights Ordinance. The TFAR ordinance, adopted last year, allows Downtown developers to purchase "unused" space above the Convention Center to build taller, denser buildings than zoning restrictions currently allow. Money generated from the sales goes to local nonprofits and a public benefits fund. The transfer plan approved by the CRA included a description of the developer's public benefit obligations, which include a total of $14 million in payments to, among others, the Downtown Women's Center, the Skid Row Housing Trust and the Department of Recreation and Parks for improvements to Pershing Square. The development team, led by David Houk, will also build community benefits into the project, such as a pedestrian connection to the nearby Metro Red Line station and two major public art displays in collaboration with the Museum of Contemporary Art. The CRA Thursday also approved the project's Environmental Impact Report and related elements. Houk said that the approval marks a significant milestone. "It's absolutely necessary. It's a big target and a big goal," he said. The project is expected to go before the City Council on May 7, and if approved will then go to Mayor Antonio Villaraigosa. Houk said he expects to break ground by the fourth quarter of this year.

--------------------------------------------------------------------------
Source: Los Angeles Downtown News
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Old April 19th, 2008, 09:26 AM   #123
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great news .. can't wait to see this one rising
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Old May 17th, 2008, 03:49 AM   #124
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Council Approves Park Fifth

News Brief

The City Council on Tuesday, May 13, approved the 76-story Park Fifth project. The $1.3 billion complex, which is being developed by a team led by David Houk, would include a 76-story tower and a 44-floor tower housing a hotel and condominiums, connected by a 15-story residential building, plus retail and restaurant space. It would rise on a lot north of Pershing Square. Park Fifth is the first major development to utilize the city's Transfer of Air Rights Ordinance, a measure adopted last year that allows Downtown developers to purchase "unused" space above the Convention Center to build taller, denser buildings than zoning restrictions currently allow. "In my mind, it's been entitled all along," said Houk, "but it's a relief to have it formalized." Houk has said he expects to break ground by the fourth quarter of this year.
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Old May 17th, 2008, 04:00 AM   #125
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Thats great news. It didn't really take that long to get the council to approve and construction to begin in only a matter of months is not too shabby at all. This one would have taken 10 more months to get the approval in Ny ( depending on where it was being built) longer in other cases.
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Old May 17th, 2008, 04:23 AM   #126
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Good news - nice design, good height. It will certainly stand out as a residential building though.
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Old June 27th, 2008, 12:27 AM   #127
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BREAKING: Unstoppable Park Fifth Gets Entitled, Loan Commitment

By jwilliams
June 26, 2008

It's a tiny step for mankind, and a huge leap for Downtown. The attached presser (after the jump) announces that Park Fifth has received its entitlements and has a construction loan commitment from Beijing Construction Engineering Group (God bless you Chinese people). We know, we know. We can hardly believe it either. The 76-story mixed use project grows ever closer to actually breaking ground, at which point our head will spin around and fly off our body leading to our untimely death and burial under the building's cornerstone.

June 26, 2008


Dear Curbed,

Today is truly a RED LETTER DAY for Park Fifth. This is the day that ALL of our formal approvals from the City of Los Angeles are absolutely FINAL. Over the past three years, we have been through an extensive process that involved obtaining approvals from the Community Redevelopment Agency, Planning Department, City Council and Mayor Antonio Villaraigosa.

Many of these actions had appeal periods associated with them, but as of today, ALL of those appeal periods have expired. That makes it official: Park Fifth is FULLY ENTITLED and ready to move forward.

Approvals Bring Good News
These actions also finalize some very important aspects of Park Fifth:

1. We will fund almost $10 million toward the renovation and improvement of Pershing Square. This park is our front yard and we are committed to making it an attractive, open and friendly environment for the entire neighborhood.

2. From the outset, we have committed to making Park Fifth an environmentally sensitive project. As part of our approvals, Park Fifth will achieve the LEED Silver standard for Green Building or better.

3. Park Fifth will have a direct connection into an MTA station on the Red Line, which will provide our residents with access to the station without going outside.

Construction Lender

Park Fifth is pleased to announce that it has secured a construction loan commitment from Beijing Construction Engineering Group (BCEG). This international firm has an extensive background in large projects, having built many of the venues that you will soon see on TV for the upcoming Olympics. Most recently, they have come to the United States and are in the process of funding two large projects in Chicago, both of which involve hotels and residential condominium homes. That makes them the perfect fit for Park Fifth and their involvement will allow us to move forward with groundbreaking later this year. We will be working through all the details over the next several months and we are very pleased to have them on board.

As always, please feel free to call our Sales Office or make an appointment to visit so that we may answer any questions you may have.

Sincerely,

Rich Marr
Project Manager
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Old June 27th, 2008, 04:14 AM   #128
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is park fifth going to be taller than US bank tower.
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Old June 27th, 2008, 07:35 AM   #129
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^ Yes, by 140 ft. Not really.
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Old June 29th, 2008, 04:35 AM   #130
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^ Erm, no, Park Fifth isn't going to be taller.
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Old June 29th, 2008, 05:16 AM   #131
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^ It was sarcasm (I thought it was obvious it wouldn't be) ......maybe i should have said this:
Quote:
[SARCASM]^ Yes, by 140 ft. [/SARCASM]
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Old June 29th, 2008, 07:13 AM   #132
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^ Sarcasm is hard to detect on an internet chat forum. Forgive me.
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Old June 29th, 2008, 09:07 AM   #133
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^ It's not your fault at all. I should have been clearer.
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Old April 5th, 2010, 07:12 PM   #134
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Proposed?
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Old April 24th, 2010, 05:56 AM   #135
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well i think it will be built. los angeles is prime for people who still have money even after the recession...so luxury building fits
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Old April 24th, 2010, 05:01 PM   #136
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This will be beautiful.
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Old April 29th, 2010, 07:48 AM   #137
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Is this building approved by the city council yet?
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Old December 18th, 2010, 07:24 AM   #138
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Here's an intriguing story that came out early this year for the approved project. The developer appears insistent that this project could go forward ...but he's only $700 million away (!)


LA Downtown News

Quote:
Park Fifth May Get New Investor

Oil Company Could Revive $1.3 Billion Project, Though Deal Not Yet Done


by Anna Scott, Staff Writer

Published: Thursday, January 28, 2010

DOWNTOWN LOS ANGELES - Developer David Houk is close to securing a new investor for his proposed $1.3 billion Park Fifth project, he said this week.

“We have agreements, but nothing has happened yet,” said Houk. “It’s in process.”

The potential partner, Gabriel Hertzberg of the Triangle International Oil Company, said that he plans to take over for Park Fifth’s financially troubled former capital partners, Africa-Israel Investments and the Brentwood-based investment company Namco Capital Group. Hertzberg also said that he would purchase the site and provide a construction loan for the project.

This would mark Hertzbergs’s first real estate development. He refused to disclose the loan amount, but said that it would amount to hundreds of millions of dollars.

“We own oil in the Middle East and have the funding to get this project,” he said. “I will probably be the owner of the whole thing.”

Hertzberg said he is in the process of transferring money to U.S. accounts and expects the deal to be finalized within a few weeks.

He added that plans for the fully entitled development, to rise on a parking lot at Olive and Fifth streets north of Pershing Square, have not changed.

Those plans call for a 76-story building that would be the tallest residential structure west of Chicago, a 44-story tower and a 15-story residential building. Altogether the project would contain 790 condominiums, a 212-room hotel, retail and restaurants.

The new interest does not mean that the development will come online any time soon. Hertzberg said that he would like to break ground within six months if the deal comes to fruition, but real estate observers say it could be years before the economy can support large-scale development projects hinged on selling high-end condominiums.

Construction, Hertzberg said, would take at least three years.

Houk put the project up for sale in the summer of 2009. He would remain involved in developing Park Fifth if Hertzberg comes on board in financing it.

For years, the proposed development was marked by a large sign on the site with the project’s name, a telephone number and the slogan “Downtown Is Looking Up.” Yet the sign was not maintained, and was splattered with large blotches of colorful paint. Houk had the sign painted over late last year.
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Last edited by desertpunk; December 18th, 2010 at 07:34 AM.
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Old December 20th, 2010, 03:23 AM   #139
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I'm trying to believe in this. Help me people!!
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Old December 20th, 2010, 03:37 AM   #140
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Well....

The site is still for sale but no takers so the developer is hoping the ice will thaw in the market and he can go ahead and get this thing built. It's one hell of a parcel: where else in L.A. can you buy a site that's already approved for a 76 story, 850 ft. tall tower?
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