LOS ANGELES | Downtown Project Rundown 6.0 - Page 538

nmkef · #**10741** Posted **Sep 17, 2021, 7:53 AM**

Speaking of news about Oceanwide...

https://therealdeal.com/la/2021/09/1...42m-judgement/

The most recent contractor that they missed payments on has gotten a judgement against Oceanwide and is officially exiting the project.

Some more doom and gloom regarding Oceanwide here: https://therealdeal.com/issues_artic...-sinks-deeper/

Oceanwide themselves were pretty optimistic in their 2020 annual report posted in April 2020 though.

Quote:

In particular, the Group is in the process of
negotiating with potential lenders regarding construction loans.
If construction loans are successfully obtained, part of the loans
will be used for the settlement of the amount due under the
Company’s parent’s guarantee. The Group is also committed
to facilitating the progress of due diligence of the construction
loans, while negotiating with a potential new general contractor
on the matters of engagement with a view to completing the Los
Angeles Project soon.

Basically nothing noteworthy in their 2021 interim report published just a couple days ago.

LosAngelesSportsFan · #**10742** Posted **Sep 17, 2021, 3:11 PM**

Quote:

Originally Posted by colemonkee

I'm 97.8% sure it's pre-cast concrete, and not stucco, at the base.

Is definitely not stucco.

Illithid Dude · #**10743** Posted **Sep 17, 2021, 5:21 PM**

Quote:

Originally Posted by LosAngelesSportsFan

Is definitely not stucco.

It's stucco around the retail sections.

citywatch · #**10744** Posted **Sep 17, 2021, 9:25 PM**

Quote:

Originally Posted by nmkef

Speaking of news about Oceanwide...
Some more doom and gloom regarding Oceanwide here: https://therealdeal.com/issues_artic...-sinks-deeper/

Not good at all....there's no way their proj in dtla goes forward as long as they're in charge. Sounds like the only option is finding a buyer...which is very iffy since the economy is giving hints of being a row of falling dominos. Hope I'm wrong, however. I also thought the apt leasing situation in dt would fall apart when the pandemic hit. I assumed the area would have high vacancy rates, but apparently not.

In turn, I thought this proj....not in dtla, but affecting it indirectly....wouldn't go forward.

• Video Link

^ When the clippers relocate out of dtla, some economic energy is going to be transferred from there to inglewood. But I've watched the vids on Youtube of a person based in NYC who traveled to LA last month. I'm seeing parts of the entire region that make me have a new appreciation for not just those hoods but also of dtla too....but only since it has changed for the better.

Dt in the past was in such shaky shape, that other areas in the LA basin had to make up for that. Dtla was the hole of the doughnut & wasn't pulling its fair share of the weight. Now there's more balance between all the different communities....some of those other parts are better too, including a inglewood.

2020 was such a downer, that I pretty much stepped back from the dtla compilations forum. Now there are some signs of life starting to show up again.

caligrad · #**10745** Posted **Sep 18, 2021, 1:22 AM**

Quote:

Originally Posted by Zapatan

Is the Fig and Pico hotel tower only 400 feet tall? Maybe it's not topped out yet.

I thought it was going to be around 500.

Seems like they chopped off 5 floors but somehow managed to lose 120 ft. in height and also 100 hotel rooms in the process. Kinda annoying since it now kinda just blends in with circa at the same height. Haven't been down there in so long, I'm not even sure if they started on the second tower

Easy · #**10746** Posted **Sep 18, 2021, 1:33 AM**

Quote:

Originally Posted by caligrad

Seems like they chopped off 5 floors but somehow managed to lose 120 ft. in height and also 100 hotel rooms in the process. Kinda annoying since it now kinda just blends in with circa at the same height. Haven't been down there in so long, I'm not even sure if they started on the second tower

I walked by there a week ago and they haven't started on the second tower yet. It's fenced, but I think that just because they lock equipment in there. I couldn't see over the fence, but it looked like vehicles were parked there.

bossabreezes · #**10747** Posted **Sep 18, 2021, 4:46 AM**

Sorry, but “The Grand” looks anything but. Also, what a tacky name for a project.

Im all for DTLAs development and at the end of the day, the project is still a net positive. But for the high caliber of its architect, the construction/property development company really did Gehry dirty and made his design look quite boring and amateur.

homebucket · #**10748** Posted **Sep 18, 2021, 5:35 AM**

Quote:

Originally Posted by bossabreezes

Sorry, but “The Grand” looks anything but. Also, what a tacky name for a project.

Im all for DTLAs development and at the end of the day, the project is still a net positive. But for the high caliber of its architect, the construction/property development company really did Gehry dirty and made his design look quite boring and amateur.

Ehh, a lot of projects have tacky names though. So I don't really fault it for that. Could it have been better executed? Yes, but so can like 95% of projects too. It's rare for a tower to achieve universal acclaim. Ultimately, it's housing and that's what California needs more of in any way, shape, or form it can get.

pwright1 · #**10749** Posted **Sep 18, 2021, 5:59 AM**

Looks absolutely incredible imo.
https://www.facebook.com/groups/DTLA...9305280227219/

LDVArch · #**10750** Posted **Sep 18, 2021, 7:27 AM**

Quote:

Originally Posted by pwright1

Looks absolutely incredible imo.
https://www.facebook.com/groups/DTLA...9305280227219/

From the pictures and the construction sequence, sure looks like precast concrete.

hughfb3 · #**10751** Posted **Sep 18, 2021, 2:28 PM**

The Grand towers look amazing in person. The scale of the buildings does drop quite a bit from the sheer massiveness that the bunker hill office buildings have (old LA fire code specific tower core bulk slowly being trimmed away with time), yet it’s still very visible from hollywood hills and the 101. That base though… I’m still reserving judgment until finished but right now it looks… well… unfinished… and I hope there is a big reveal because that painted color over precast concrete is a no for me

LA21st · #**10752** Posted **Sep 18, 2021, 2:58 PM**

I agree it looks better in person.

badrunner · #**10753** Posted **Sep 18, 2021, 4:04 PM**

It looks great in context when you're driving up Grand Ave. It also looks good from behind, looking up the hill from Hill st. or Broadway. I've walked all around it and it's a good looking tower for sure. As for the ground level facade and the materials that people are complaining about, I'll have to withhold judgment until it opens.

craigs · #**10754** Posted **Sep 20, 2021, 4:19 AM**

Okay, so I made a point of driving by The Grand today to see it for myself, and there's no stucco. At all. That is painted concrete, and yes, the place looks forlorn right now. But I'll wait to judge it until it is open and activated.

Illithid Dude · #**10755** Posted **Sep 20, 2021, 5:40 AM**

Quote:

Originally Posted by scania

Thanks…this Illthid Dude, always tries to say something negative when it comes to DTLA. So sad. Lol

It's entirely possible to dislike The Grand while still loving downtown. Blind boosterism does nothing for anyone.

craigs · #**10756** Posted **Sep 20, 2021, 6:03 AM**

Quote:

Originally Posted by Illithid Dude

It's entirely possible to dislike The Grand while still loving downtown. Blind boosterism does nothing for anyone.

You certainly don't have to like the Grand. My husband didn't like it, and could not believe it was from the same guy who designed the Disney Hall across the street. Nor are you required to boost downtown or the city at large. But you do have to tell the truth--and your claim that The Grand has stucco at the ground level violates that standard.

Illithid Dude · #**10757** Posted **Sep 20, 2021, 9:26 AM**

While I cannot confirm the specifics of The Grand's material usage, what I believe I saw was that they utilized pre-cast concrete for all of the podium except for the retail portion that directly faces Grand Ave and the concert hall, which seemed to me to be stucco. Now, I could be wrong about this. It is entirely possible that I have made a mistake. This would not be an example of me lying with malicious intent, but instead, what one would call "human error". It happens to the best of us.

Moderator Edit: removing some of this post as it seems to have struck a nerve. That being said, Illithid Dude's point was dead on - do not attack users on this forum. It is against the rules and will result in suspensions or, if necessary, bans.

colemonkee · #**10758** Posted **Sep 20, 2021, 2:52 PM**

Illithid Dude has not broken the forum rules, people. His comments have not been personal attacks nor bullying. Please stay on topic.

citywatch · #**10759** Posted **Sep 20, 2021, 3:53 PM**

Quote:

Originally Posted by pwright1

Looks absolutely incredible imo.
https://www.facebook.com/groups/DTLA...9305280227219/

thanks for that link....not sure if ppl went through it, however, since one of its pics answers some of the postings above...

dtlatownsquare

the color of the Grand ave proj's concrete may be a minor problem when it comes to the bigger picture, inc projs like oceanwide. Not sure exactly how things like this will either not hurt the stalled devlpt even further or cause a domino effect....

Quote:

Wall Street joins global sell-off as Evergrande crisis intensifies

Wall Street stocks dropped on Monday, echoing falls in Asia and Europe, as the liquidity crisis at Chinese property developer Evergrande cascaded across global markets.

The US stock drop came after shares in Evergrande, the world’s most indebted property developer, closed 10 per cent lower in Hong Kong to their weakest level since May 2010.

The broad decline underscored concerns about the broader health of China’s real estate sector and triggered a wider sell-off, sending the Hang Seng Property index, which tracks a dozen listed developers, down almost 7 per cent, to its lowest point since 2016.

ocman · #**10760** Posted **Sep 21, 2021, 12:22 AM**

Quote:

Originally Posted by Illithid Dude

It's entirely possible to dislike The Grand while still loving downtown. Blind boosterism does nothing for anyone.

The main issue I have is that the developer or Gehry are following the outdated one-stop shop outdoor mall concept of Hollywood/Highland, with multitiered retail and shopping. But I realize Related has shown they’re gonna squeeze every last dollar out of this thing.