76-story condo tower planned for downtown L.A.

[krazeeboi]

76-story condo tower planned for downtown L.A.

Developers plan a $1-billion L.A. complex. Doubters fear a glut.

Plans for a $1-billion high-rise condominium complex overlooking Pershing Square park in downtown Los Angeles were unveiled Monday by developers who expect to build the tallest residential building west of Chicago.

At 76 stories, the taller of two planned towers would dramatically alter the city's skyline and rival in height the U.S. Bank office skyscraper. The project, named Park Fifth, also calls for a 14-story five-star hotel. It will front on the park, as does the historic Biltmore Hotel catty-cornered to the planned development...

The project is drawing its doubters from people who wonder whether there is a market for another huge housing complex downtown...

"People wonder if this is the right time" to announce a large housing development, said economist Jack Kyser of the Los Angeles County Economic Development Corp. "Downtown is overbuilt and some other projects are grinding to a halt."

[convulso]

lol - 'downtown is overbuilt.' what is the rest of the LA sprawl area? pastureland? LA's downtown is anemic for a city its size. my girlfriend was downtown this past weekend and she said it's as dead on saturday night as it was five years ago, the last time we were in that area. but i can't imagine that the downtown housing situation couldn't accommodate more condos. the fact that it's dead isn't a function of overbuilding (unless by 'overbuilt' he simply means a poorly-timed glut of capital investment)...

get the amenities and accompanying night traffic into that area, and there's plenty of room to grow and redevelop. right now that's the problem, thhough, and 76 stories all at once is a big vertical commitment. but when every other fringe area of LA is buzzing with activity 24/7, it's ridiculous for the downtown to languish like this (especially in such a sprawling metro). i imagine it would take a pretty insanely dramatic ground-up revision of a master plan in order to right what's wrong, if mixed use with a quality mix of residential is what they're after. not that anyone's really pursuing it.

i understand why people choose to live anywhere but DT as it is now. who wouldn't want to live somewhere off la cienega up around west hollywood, where the density is tight, everything you need is nearby, and there's constant activity? who cares if most everything is between 1-3 stories? it's crammed full, and it works.

so how do you get people to 'want' to live downtown? a single 76-story megaproject? i think they're creating an island in a sea of dead. talk about pedestrian isolation...and pershing square isn't exactly going to be a place where residents can cut loose, backyard-style. the area's not geared toward resident amenities right now. the $1 billion could go a long way toward redeveloping several smaller pockets around DT and getting some continuity going. yeah, yeah; i know this is private investment in a single project, and a developer can't slice & dice in multiple small locations and still expect to get everything finished and leased all at once. but the priorities...they're shooting themselves in the foot with stuff like this until they have a core that attracts people instead of repelling them.

the LA times link to the rendering is busted, krazee! and i don't wanna register (again; forgot my old info)! did you happen to save that image?

[Cmuse]

Here's the developer's Web site for Park Fifth. Be patient while the whole presentation loads and plays:

http://parkfifth.com/

I'm not usually impressed with mere size, but this looks like a beautiful development with many novel aspects to its design (the interior plaza and 15th-floor roof garden among them). Even if it is too "Trump Towers" and luxe for my tastes.

[umusic2000]

But will these developments make Downtown LA the heart and hub of the city like almost every other city's downtown is? Will people want to go down there for entertainment, food, or just a walk on a weekend night?

So far, it has sporting events and concerts on a regular basis and no one's venturing out after the events. Everyone's going back home or at least somewhere else to finish their evening.

They need to move Skid Row, get rid of all the drugs and crime down there, basically make it a safe place to be and maybe people will consider making it a nightspot. I, for one, wouldn't go there for any other reason than a special event. If I wanted a hangout, i'd go to Universal City, Hollywood, or Santa Monica.

[chiodeguate]

The Condo was being talked about on KTLA this morning and they'll come with a pricetag upwards of $3Millie...not for me. I do agree, downtown LA is dead. It was dead when I was a kid and it's dead now. They need to develope more of a nightlife atmosphere, dining, theater, etc. I used to go to the Mayan and that was about all that downtown really offered...if you didnt mind the occasional fights, stabbings, etc.