New $240M project in downtown LA.

[savvysearch]

Parking lot will be transformed into 850-unit, market-rate complex featuring a mix of condos and apartments, as well as 50,000 square feet of retail. By the Related Companies who are doing the Grand Avenue project. You can see the new Thom Mayne building across the street in the pic. The development, which would include two roughly 20-story towers, would rise on a parking lot south of Second Street between Los Angeles and San Pedro streets. Contruction takes place next year and will be finished in 3 years.


http://www.downtownnews.com/content/articles/2004/09/27/news/news01.jpg

[TICONLA1]

Cool, i parked in this parking lot when i was working on the caltrans building across the street last nov. according to my local union (plumbers loc.78) within the next 12 months we'll see the beginning of a 2 to 3 year construction boom downtown, a long time coming if you ask me, but i can't wait to see cranes all around the downtown area (like back in 81) also a lot of hospital and public schools projects as well!

[morestoreysplease]

I haven't had a chance to go downtown on this trip, but I was there last April and could see the start of city center living taking off in LA. In the UK there has been a boom in the last 15 years of transforming old warehouses into apartments etc. As LA is a bit of a daytime downtown, these projects can only bring in a 24hr safe environment.
Incidently, I am lovin my trip here again!!

[klamedia]

I know this is old.....but has this project been built?

[fridayinla]

1/4 of that large parking lot is currently under construction as the San Pedro Apartments. Another fourth may start construction next year containing the condo tower at 2nd and San Pedro Streets. The other half of the site contains two parcels that were sold off by Related. I don't know the construction schedule for those.