717 ninth topping out, concerto soon to follow
That’s all she wrote for this one, folks!
Crews are currently framing the final floor for Meruelo Maddux’s 717 Ninth apartment tower (previously to be offered as for-sale residences), which over the last several months has gained prominent placement in the Downtown skyline with its 35 stories.
According to Mark Moreno of Mamba Architecture, the official topping out date is scheduled for September 19. Meanwhile, the blue-to-green fade of the glass curtain facade is becoming more visible on the upper levels.
Across the street, Astani Enterprises is stacking on concrete floorplates like its an Olympic sport. The phase-one tower of Concerto is already building floor 25 of 30, leading to structural completion this fall.
Concerto at 25 floors
717 Ninth Topping Out
Concerto at 25 floors
21 comments
I remember all the yahoos on Skyscraper City (don’t think there were too many naysayers on blogdowntown…don’t think angelenic was running yet) who were claiming that Concerto was never going to be built when there was a six month delay and there was a hole in the ground sitting for a while.
To all those people, I respectfully say, eat it, clownie.
I remember those days on Skyscraper Page Forum also. Astani snatched up funding right in the nick of time!
Is 717 for-sale or rental?
^^^
for sale..at least that’s the plan..there aren’t going to be very many units, only 8 per floor i believe. I would definetly consider this or Concerto to live in..I wonder what the status of the South Park Towers are? Cause i remember seeing the lot fenced off not too long ago.
Eight units per floor?? Sounds mighty spacious!
I love looking at these buildings while walking to Ralph’s. That flared portion towards to top floors of Concerto make the building look interesting.
Can’t wait to welcome new residents to South Park, but will miss the site of the 2 cranes in our skyline.
Snapped some pictures of this on my morning walk as well. Walking out my front door I am at the 7th or 8th floor of 717 and it’s been interesting to see the progress.
Can’t wait to see the mid-rise portion of Concerto finish as well. From the renderings, the entrance of the building looks quite interesting with its angular glass atrium. It will definitely add a touch of creativity to the intersection.
According to August 4 Meruelo Maddux press release, 717 will be 214 apartments.
SM,
I’m sure Murelo/Astani wish those yahoos were right. What is Murelo’s rate on the 84M construction loan? Someone will make money on these towers, but not Murelo or Astani.
Anonymous…yea maybe you’re right. The developers may take a hit today, but they’re investing in the future of downtown LA. Where are your balls?
I like the last rendering of the concerto tower next to the 717 olympic building, it looks like a row of condominium towers. Does anyone know which way the LED screens will face?
^^^Lets not forget, even if Astani and Murelo only break even on these towers, they bring in cache to the neighborhood, because both are invested heavily in downtown. Astani has another tower to build on the lot as well as 8th & Grand, and Murelo has lots everywhere downtown. Their goal with these first towers is to get people talking. It sets them up for sucess in the future.
They bought the land from AEG – AEG are the ultimate winners (as are current residents).
Murelo will need to get $4,200/unit/month just to cover construction loan.
How do you convince someone to invest with you in the future,
Investor: “How did you do on your last project – 717 9th I read a lot about it?”
Murelo: “We broke even”
Investor: “Ohhh…”
^^If these developers can break even in a housing crisis like this, then I would say they are doing very well… considering how many projects like these are going bankrupt in other markets. Investors know the times we are in, and they know this wont last forever.
i just gotta say that the glass on that Concerto building is AWESOME. can’t wait to see it fully covered.
This is a great time to invest in projects for the ones who have the money. Because realestate is alot cheaper now. By the way can someone answer my question, Which way the LED signage will face on the concerto, also will the Staples center get some LED signage aswell. Stephen do you know?
Real estate is cheaper for developers like Astani/Murelo how? IS the price of construction cheaper? Are loans cheaper?
The LED curtain will be on the top left quarter of the building facing fig and the freeway. There will also be a smaller one on the top third of the 9th side facing north.
Real estate is cheaper for those of us who want to invest in buying a couple units in a project.
Thanks Hugh, Do you know if Staples Center will join in with the LED signage too? Responding to Anonymous land and real estate is cheaper, but construction is not. Atleast they’re getting a better deal in buying land or real estate now then three years ago.
I have to say that the Varety arts theater in th e middle is ugly !! ewww