LOS ANGELES | METRO Project Rundown 2.0 (non-downtown)

[LAisthePlace]

Originally Posted by Zapatan

I'm amazed how quickly the office tower is going up.

I imagine what having it nearly fully preleased will do for ya

[citywatch]

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[Illithid Dude]

I've heard that Century City is the best performing office market in California. I wouldn't be surprised to see other office towers, like the one proposed for the Fox lot, go up soon.

[LAsam]

Originally Posted by Illithid Dude

I've heard that Century City is the best performing office market in California. I wouldn't be surprised to see other office towers, like the one proposed for the Fox lot, go up soon.

If they can get pre-leased I could see them getting financed and built. Otherwise, don't see it happening in the current market.

[craigs]

Originally Posted by Illithid Dude

I've heard that Century City is the best performing office market in California. I wouldn't be surprised to see other office towers, like the one proposed for the Fox lot, go up soon.

That would make sense, considering CC is the only place in California that I can think of where a developer is constructing a new office skyscraper.

[Doctorboffin]

Originally Posted by Illithid Dude

I've heard that Century City is the best performing office market in California. I wouldn't be surprised to see other office towers, like the one proposed for the Fox lot, go up soon.

Hopefully the D line will only make its performance better.

[SoCalKid]

Originally Posted by Illithid Dude

I've heard that Century City is the best performing office market in California. I wouldn't be surprised to see other office towers, like the one proposed for the Fox lot, go up soon.

It might be the best office submarket in the country outside of Manhattan. Absolutely booming. It's crazy what a tale of two cities it is with Century City vs everywhere else in LA, especially DTLA. That being said, it's tough to build anything now without pre-leasing, which is almost unheard of in LA before construction starts - the CAA tower is the notable exception. High interest rates don't just increase financing costs, they also increase cap rates, which in turn lowers building valuations. Lower valuations means it's harder to build - you have to sell the final product for a profit over your cost to build. But if interest rates come down, new office towers in Century City should be very in demand from investors. The biggest hurdle will be lack of available land (and of course Measure ULA, if it still exists by then)!

[BrandonJXN]

If I'm not mistaken, the last office tower built in LA was Constellation Place right across the street.

[Charmy2]

Had to do some research but yeah Constellation Place was the last office tower built in LA. Of course the Wilshire Grand has some office space but the tower isn't a full office building.

[DJM19]

Per Joe Cohen on Twitter:

"Another builder's remedy project in Santa Monica with over 1,000 (possibly over 1,500?) units also appears to be moving forward" at "Nebraska and Stanford"

This is what we need 100 more of west of the 405.

[DJM19]

Also via Joe:

"One of the Santa Monica Builder's Remedy projects appears to be moving forward as a by-right project (given expedited approval under the settlement)

1435 5th St has been upsized from 375 units in 13 floors to 422 units in 18 floors"

[craigs]

That is some solid density with both those Santa Monica projects. Build 'em!

[Illithid Dude]

I thought that developer made an agreement with Santa Monica to downsize their builders remedy proposals?

https://la.urbanize.city/post/santa-...emedy-projects

[DJM19]

I think these projects made the cut but the developer agreed to drop some projects in less dense neighborhoods.