Parking lot sold for $30M

[savvysearch]

A 15 and 25 story residential building will go up at the corner of Figueroa and 9th in downtown LA. Cost is $140 million. The developer wants a "signature building" in the style of Renzo Piano. Interesting for a residential developer to be concerned about architecture.

http://www.latimes.com/classified/realestate/rentals/commercial/la-fi-condos14sep14,0,5404118.story?coll=la-class-rentals-commercial

Also, a 400 unit $85 million dollar project is breaking ground next week. Also in South Park around Staples center. On 11th and Grand.

Great things going on in South Park what with these two developments this week and the billion dollar "LA LIVE."

[TICONLA1]

any word on how tall 11th and grand project will be, i'm assuming by cost about 6 to 10 floors? is it phase 2 of the UCLA project that added 2 lightweight steel floors to the exsisting building?................ by the way tower crane up (as of last week) on marina pointe tower 3 (18 story,poured in place concreate, res. tower, marina del rey)

[savvysearch]

It looks to be about 6 or 7 floors.

[klaus]

any word on how tall 11th and grand project will be, i'm assuming by cost about 6 to 10 floors? is it phase 2 of the UCLA project that added 2 lightweight steel floors to the exsisting building?

that poject is not related to the GRAND LOFTS in the former ucla extension building also on grand and 11th. btw, they are adding 3 floors to the existing 4. phase 2 of the GRAND LOFTS is dubbed OLIVE STREET LOFTS and will be a new consruction across the street on (yes, you guessed it) olive and 11th.

now, the project in question is an entirely different thing, called THE ELEVEN, which will consist of TWO MORE towers. one will be 13 floors tall, the other 17.

GRAND LOFTS
http://img.photobucket.com/albums/v412/sepbach/grandlofts.jpg

THE ELEVEN
http://img.photobucket.com/albums/v412/sepbach/photo2.jpg

[TICONLA1]

thanks for the info and pics guy's i sure hope the ELEVEN's other towers follow the same design scheme. I like cantileaver, cornice lines. reminiscent of the great, Frank Lloyd. I almost had a heart attack when i found out the Nadel partners did the Californian,. who's responsible for this design? I like it!.

[Money Man]

I'm really excited about his projects, and I don't think he'll have a problem with the city in building them. We need res. towers in South Park and tall ones. :)

[LosAngelesSportsFan]

The elleven project is now 3 towers, 13, 19 and 27 storyies tall. They also bought more land adjacent to this property and plan more towers to be developed. We are seeing a true construction boom in DT LA,w ith new projects announced weekly and im sure major developers will move in soon.> The Land prices have appreciated to a point that now the develpment will be high rise oriented compared to the past projects from Gilmore like the medici. look for many new towers ranging from 15 to 50 stories tall, and i cant wait. By the way www.ladowntownnews.com is a great source.