In The News
by Kathryn Maese
January 1, 2007
It's dizzying to think about how many new housing projects are coming online or have recently opened in Downtown Los Angeles. About 7,200 residences are being built, with another 16,700 in the pipeline, according to the Downtown Center Business Improvement District. Kor Group's Eastern Columbia building is expected to open this year at 849 S. Broadway. Photo by Gary Leonard.
While some developers have pulled back on concerns that the housing market is slowing, others continue to announce new deals. This year a spate of projects is set to open, including these five key addresses in five diverse Downtown districts.
Eastern Columbia: This is one of the most awaited residential openings of the year. The turquoise stunner in the Historic Core is being refurbished by the Kor Group. The look will reflect the company's high-design aesthetic (they own several posh boutique hotels). In addition to the Kelly Wearstler-designed interior, the leisure terrace and rooftop pool will be the place to crash in the new year. The $30 million renovation is at 849 S. Broadway.
South/Luma: This South Park mega-tower will open in the spring with more than 230 units, completing the second of three planned high-rises on the same block at 11th and Hope streets. The modern, 19-story, $80 million mod-structure joins the 176-unit Elleven, helping to create a significant residential hub just blocks from Staples Center.
Roosevelt Lofts: The 223 modern condominiums in the historic Roosevelt will open mid-year in the Financial District. This ornate 1920s structure is one of at least half a dozen major housing complexes planned for the immediate area, including the nearby Ralphs supermarket and the Market Flats. The $80 million Roosevelt transformation, by developer Milbank Real Estate Services, is also expected to have a vibrant ground floor that includes an upscale restaurant.
Mura: The Arts District will see an explosion of residents this year, starting with Pulte Home Corp.'s 190-unit condo building in the spring. The $80 million project sits on the block where Rose, Hewitt, Traction and Third streets meet in the bustling community. *
Biscuit Company Lofts: Move-ins begin early this year at the 105-condo development by Linear City in the Industrial District. A French bistro will also open on the ground floor, adding to the retail in the Toy Factory Lofts across the street. The former Nabisco factory includes one of the priciest lofts Downtown, a sprawling $4.9 million multi-level penthouse with several patios.



