ULI Report: Asian Investors Flocking to DTLA

Mega luxury projects are taking shape in downtown Los Angeles, hoping to help revitalize the city. But some executives at the 2017 ULI Fall Meeting expressed concern about the potential for oversupply.

Downtown Los Angeles remains a hot market for investment, particularly attracting Asian capital. Investors from several Asian countries are deploying billions of dollars in some of the city’s tallest, most luxurious projects currently underway, hoping to bring a variety of uses and high-quality amenities to the city. At this year’s ULI Fall Meeting in the City of Angels, attendees had a chance to tour three major mixed-use projects that are shaping the city’s skyline, which came to fruition thanks in large part to Asian investment.

The first stop was at the construction site of Oceanwide Plaza, a $1 billion, three-building development from Beijing-based Oceanwide Holdings, located at 1101 S. Flower St. Envisioned as an extension of the Staples Center and L.A. Live, the CallisonRTKL-designed project will include 166,000 square feet of retail and restaurants, a 183-key Park Hyatt Los Angeles and 504 luxury condos. Upon completion by the end of 2018, one of the towers will reach 53 stories and the other two will hit 40 stories each…

ULI Report: Asian Investors Flocking to DTLA

Categories : Finance

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