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Old November 25th, 2007, 09:34 AM   #21
Westsidelife
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The site will most likely clear out and be boarded up again once the LA Auto Show wraps up...

November 24, 2007

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From Flickr, by fridayinla

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From Flickr, by fridayinla

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From Flickr, by fridayinla
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Old November 26th, 2007, 07:40 AM   #22
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Brooo

Quote:
Originally Posted by soup or man View Post
The metric system is the work of the devil. I'm sure a mod can edit it though.

LA Central is a part of the new LA Sports and Entertainment district...or LA Live. Think of it as a Times Square West..but not.
Broo, it's LA men..
It could never be like Timesquare. It will be better!!!!!!
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Old December 16th, 2007, 05:38 AM   #23
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Old January 1st, 2008, 03:38 PM   #24
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good for los angeles
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Old January 10th, 2008, 09:33 PM   #25
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Who's the hotel tenant? Any other info?

Looking good...
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Old July 28th, 2010, 11:59 AM   #26
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March 2010

New Life for L.A. Central: Moinian Extends Financing, Parking Returns

Quote:
After nine months fenced off and vacant, an $80 million piece of land across the street from Staples Center has been buzzing with life this week. Parking operations returned to the site over the weekend, and crews have been busy working to clear weeds, trim landscaping and patch cracked asphalt.

The four-acre site, to be developed into a project known as "L.A. Central," has spent the last two years embroiled in lawsuits, but property owner Moinian Group said today that it has extended the project's financing. That will allow it to move forward on what may end up to be a scaled-back version of the development.

"This is a major step forward in ultimately developing the site," said Oskar Brecher, Moinian's director of development. The property occupies the entire block bounded by Figueroa, 11th, Flower and 12th streets.

Original plans called for two towers 53 and 37 stories, 860 market-rate units, a 222 room hotel and 250,000 square feet of retail. While the firm is working to extend those entitlements, what gets built will "straddle between the very ambitious project we had designed for the site and what the current possibilities happen to be," Brecher said.

In November, Wachovia declared Moinian to be in default on a $55 million loan it had given the company for the property. More recently it filed a lawsuit against founder Joseph Moinian and developer Henry Shahery, claiming that the two were liable for the amount under a personal guaranty they had signed.

That suit was withdrawn last week, and Brecher said that Moinian has "extended the financing on the property for several years."

The site was fenced off in June of 2009 after an injunction was issued forbidding Moinian from operating parking. AEG, who sold Moinian the property in 2006, had filed a suit claiming that the sale agreement gave it the exclusive right to parking operation. That case has now been settled.

"We have an agreement with AEG to jointly operate the parking on the property," Brecher said. "That, I think, is in everybody's interest. Now we have worked it out so that we're both happy."

Still unresolved are several smaller cases related to services provided in project design and entitlement. One of those was filed by architecture firm RTKL, who alleges that it is owed $3.6 million on a $14 million design contract. That case is scheduled to go to trial in April, but settlement talks are underway.

"We made some progress, but we need to come to an understanding all around," Brecher said. "It's not entirely clear right now whether we can do that without being adversarial."
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Old July 14th, 2013, 08:19 PM   #27
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REVIVED!

-------------------------------------------------------------------------------------------------------------------------------------------

LA Central, a long-simmering 2 tower hotel/residential project for downtown Los Angeles has been revived as Fig Central.

http://figcentral.la/location.html

Quote:
Originally Posted by milquetoast View Post
I'm just going to unload this.
The dates are from 2013.


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http://www.google.com/url?sa=t&rct=j...48705608,d.aWc
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Old July 14th, 2013, 08:20 PM   #28
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More:

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Old July 15th, 2013, 12:29 AM   #29
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Glad to see another tower in downtown LA. Pretty decent box, too.
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Old September 17th, 2013, 11:40 AM   #30
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Los Angeles High Rise Development Rundown



Quote:
Sunday, July 21, 2013

Originally envisioned as the retail component of AEG's LA Live development, Fig Central seemed on the cusp of construction back in 2007 before the floor fell out from under the real estate market. The northern tower, entitled for a combination of hotel and residential use, will rise 575 feet and over 50 stories. The southern tower, intended for multi-family residential use, is entitled for 455 feet and 37 stories. At ground level, the most striking component of the project are the LED screens stretching the entire block of Figueroa from 11th to 12th street, armed and ready to bombard pedestrians with some good, old fashioned commercialism. The Moinian Group, current owners of the land, opted to put the project up for sale earlier this year in order to focus on New York real estate. The sales process is expected to be complete by Fall, with offers reportedly in the $180 million range. Assuming the purchaser intends to start work as soon as possible, construction could begin in the first half of 2014.
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Old September 17th, 2013, 02:48 PM   #31
bozenBDJ
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Luckily this project was revived sure it will add the vibrancy of the area .
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Old January 24th, 2014, 03:46 AM   #32
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Record Purchase! Oceanwide Real Estate Buys Development Site Across from Staples Center!



Quote:
In June of this past summer we reported the The Moinian Group, which is among one of the Country’s largest privately held real estate firms, was privately marketing their development site, one of the most sought out after lots in Downtown LA, which is currently one of the hottest markets in the Country. The 4 ½ acre site located in the area commonly referred to as Figueroa Central, directly across the street from the Staple Center has now been sold to Beijing-based property developer Oceanwide Real Estate Group.

Oceanwide broke all Downtown LA records with the purchase price, buying the already entitled approximately 200,000 sf parking lot for approximately $200,000,000! This purchase of approximately $1000 per sf breaks the previous Downtown LA land purchase record we know of, which was the Carmel Partners purchase of Sonny Astani’s development site on 8th & Grand for $63 million at approximately $500 per square foot!

Fig Central as its known, is a hotel, retail and residential project, located at the entrance of L.A. Live, is going to be another grand development similar to the recently announced Metropolis project, which is an estimated 1 billion dollar development just North of Staples Center, by state-owned property developer Greenland Holdings Group of China.

...

A website for the Fig Central project includes plans for two towers. The North tower plan has 51 stories, rises 575 feet and similar to the Ritz Carlton just across the street, the building will be split with floors 1-22 as a 500 room hotel and floors 23-54 will be condominium. The second tower known as the South Tower stands at 37 stories, rising 455 feet, with 506,459 square feet devoted to multi-family rentals. The lot is also already entitled for approximately 200,000sf of retail.


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Old July 20th, 2014, 08:39 AM   #33
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Via SSP:

Quote:
Originally Posted by SoCalKid View Post
Soil testing was going on at the Fig Central site today. I'll post a pic later.

https://farm4.staticflickr.com/3858/...aaed658c_b.jpg


https://farm6.staticflickr.com/5558/...02452465_b.jpg
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Old July 22nd, 2014, 10:53 PM   #34
Eric Offereins
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So they keep the same design?
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Old October 18th, 2014, 11:05 AM   #35
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Here are the new plans... One 677 ft, and two 530 ft towers.

Quote:
Originally Posted by blackcat23 View Post
Here's the redesigned Fig Central:

http://buildinglosangeles.blogspot.c...-figueroa.html

It's basically the same as the old project...just with an extra tower jammed in the middle.





What's somewhat concerning is the changes to street integration. They've basically converted the first two floors into a semi-enclosed mall.

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Old December 9th, 2014, 11:01 AM   #36
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Demolition Imminent at Fig Central Site



Quote:
November 27, 2014

In October, Oceanwide Real Estate Group finally revealed their new three-tower plan for the long-awaited Fig Central mega-development. Just two months later, the Bejing-based developer is already moving ahead with an important first step in the construction process.

Earlier this week, the Los Angeles Department of Building and Safety issued demolition permits for the existing structures at 1101 S. Flower Street. The 4.6-acre property, purchased by Oceanwide in late 2013, is currently developed with a pair of low-rise mechanical buildings and an underground bank vault. Construction of the new tower complex will necessitate the removal of all existing structures.

As of Monday, the process had already kicked off with the arrival of heavy equipment along the Flower Street side of the project site. This afternoon, a skeleton crew was hastily assembling a chain-link fence which now encircles the property. One worker stated that demolition was scheduled to begin soon.

[...]
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Old December 16th, 2014, 09:17 AM   #37
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Getting serious:

Quote:
Originally Posted by jgacis View Post
Some pics of the Fig Central site I took today (14 Dec 2014). The heavy equipment are getting ready for some serious digging!

[IMG]http://i59.************/350rtid.jpg[/IMG]

[IMG]http://i61.************/14pq29.jpg[/IMG]

[IMG]http://i62.************/o9hds4.jpg[/IMG]

[IMG]http://i61.************/mvjbiq.jpg[/IMG]

[IMG]http://i59.************/168exra.jpg[/IMG]

[IMG]http://i60.************/oud4xh.jpg[/IMG]

[IMG]http://i59.************/2a0klkg.jpg[/IMG]

[IMG]http://i59.************/307yepw.jpg[/IMG]

[IMG]http://i57.************/21bsxsw.jpg[/IMG]

[IMG]http://i62.************/x29eua.jpg[/IMG]
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Old February 5th, 2015, 12:06 PM   #38
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Work has begun


Fig Central / South Park Sunset by HunterKerhart.com, on Flickr
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Old February 9th, 2015, 07:42 AM   #39
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Fig Central by HunterKerhart.com, on Flickr
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Old February 9th, 2015, 07:46 AM   #40
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Should’nt this thread be moved to the skyscraper section.
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