Park Fifth, Los Angeles To Get A New Skyscraper
Filed under: Estates
Downtown Los Angeles will look like a whole different city in a few years. A few months ago, I showed you the plans for Frank Gehry's Grand Avenue complex, now let's take a look at Park Fifth. The ambitious project is a $1-billion high-rise condominium complex overlooking Pershing Square park in downtown Los Angeles . The LA Times reveals the rendering for what will be the tallest residential building west of Chicago. The taller tower is 76 stories and will be one of Los Angeles's tallest skyscrapers. The shorter tower will be 43 stories. Construction could start as soon as early 2008, and the smaller tower, which will also be home to a 14-story five-star hotel could be open by 2010. The project's massive scale (732 condos and 218 hotel rooms) have some Los Angeles real estate watchers clucking nervously but it is hoped that in a few years the real estate market will have recovered and condo hunger will be on the rise again. The sales center for the condos is set to open this summer.
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