This article is from the Australian Property Journal archive
RESIDENTIAL developer Crown Group is progressing entitlements with Los Angeles City Hall for plans to build a US$500 million mixed-use high-rise condominium and hotel tower as part of its first US play.
Crown Group has formed a joint venture with Singapore based Magnus Property Pte Ltd and major Indonesia’s developers, ASRI for the project on the southeast corner of South Hill and 11th streets at the convergence of Downtown’s financial, fashion and South Park districts.
The joint venture group settled on the Downtown site in November.
Designs for the 43-storey tower have been drawn up by world-renowned Koichi Takada Architects and is expected to be completed in 2024. The high-rise sections of the building will comprise 319 condominiums with an exclusive residents’ retreat over the top two floors and a façade design that references California’s ancient redwood trees. A street canopy will ground the tower and incorporate a “breathing green wall”.
Crown Group said it is in discussions with several luxury hotel brands to incorporate a 160-key hotel in the low rise portion of the building.
Chief executive officer, Iwan Sunito said the flourishing Downtown district of LA had experienced a significant transformation over the past decade, evidenced by LA Live’s expansion, Warner Music and Spotify establishing offices, headline retailers such as Apple, Vans and Paul Smith launching flagship stores, and iconic restaurants opening venues and numerous residential, hotel and commercial developments underway.
“It’s rare to find the central cheap pills tramadol district of a large cosmopolitan city on the verge of such significant change,” he said.
“Downtown is experiencing a once in a generation revival – led by the heightened convergence of tech, media and entertainment in Los Angeles.
“There’s a great deal of investment and it’s exciting to think of what Downtown will be like in another few years’ time. It will be a highly sought-after place to live.”
Crown Group head of US development Patrick Caruso said the development would offer an appealing point of difference for buyers in Downtown LA and bring a new version of condominium living to the district.
Established in Sydney in 1996, Crown Group specialises in luxury developments and has a $5 billion pipeline spanning five cities and two continents.
Crown Group and Koichi Takada Architects have paired up for a series of residential apartment projects in Australia, including Arc in Clarence St, Sydney. In 2019 they completed the sell-out Infinity at Green Square and is looking to fast track the opening of the new SKYE Residences within the $575 million precinct.
Koichi Takada recently gained worldwide recognition for designing the interiors of the National Museum of Qatar in the Middle East, unveiled last year.
Takada said the new development would seek to incorporate a sense of greenery and of “human scale”.
“We want to humanize tall buildings, to celebrate the pedestrian activities and consider how people experience it,” he said.
