completed south park tower highlights itself
Following up last week’s news of 717 Olympic’s recent marketing billboard display and pre-leasing campaign, the new luxury highrise has now transitioned into full promotional swing.
The completed structure, flaunting all of its tail feathers, began illuminating the night sky late last week with an unexpected, electric-blue lighting scheme.
Aside from its focal point around the penthouse crown, a rear outdoor space atop the podium level carries the luminous effect.
Early project renderings show only subtle, thin strips of blue neon extending up the edges of the tower. It remains to be seen whether those will be added, or if the lighting design has been reconfigured altogether.
Even with the ramped up appeal, will renters be willing to shell out a reported $2,500 to $19,999 per month for an LA Live-adjacent residence? Are the developers just blinded by their own light? Maybe. But they do deserve props for glamming up that white stucco. Bravo!
-new 717 olympic billboards mark pre-leasing launch
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12 comments
The building is impressive and adds a lot to South Parks impressive resume. 20K a month for rent though? I might have to get a 5th job.
great building, they definitely want to stand out from the rest.
i am totally priced out of this building, too high for my budget.
we all want and need to be comfortable and happy regardless of income.
i will drown my sorrows in frozen yogurt..lol
It’s nice but I think they will have trouble finding tenants in this price range.
^ Their will be tenants that are willing to shell out that much for 717 Olympic. I do believe they’ll do well.
^ exactly.
As they(media, analysts) have said all along, there is no “recession” in the wealthy sector. And by wealthy I mean over $5 million a year income, not net worth.
I hope you guys are right. Like any downtown business I really hope they succeed. I just think (based on nothing in particular) most of the people in the higher income brackets will probably buy rather than rent at those prices.
Here’s a picture of their pool deck I got. The corner 2 bedrooms I like start at 6,500 or so.
http://loftla.com/mb/phpBB3/viewtopic.php?f=15&t=754
1010’s pool deck looks a lot better.
I would think people would rent rather than buy at this market. Especially if you are wealthy. Signing a one year lease at $120k is a lot less risky than buying a $2.0M house/condo. There is not a lot of upside, the smart money knows that. Plus, you don’t have the headahce of owning a place (HOA’s, taxes, upkeep).
Hanover has come into the marketplace at a very aggressive price point for our current rental market. Some argue that at 151 units they will find enough households willing to pay the price…and others think they are crazy and pricing themselves out of the market. Beautiful building, great addition to the neighborhood (their lot once was just another parking lot to fill for Staples Center events!)…but, they have found themselves already giving out concessions to entice the public…so far, I think they are finding it tough! When they move into their onsite office and can freely tour the building, we will find out how enticing it really is at that price point!!
The buildings in South Park L.A look nice, but there is almost nothing to do down there. OK fine - you have a large concert hall, and a few restaurants. Several people I know have tried living there for a year and have moved away for that reason.
^^^
Yes, but in October 2oo8, guess what opens? The 2nd phase of LA Live, and along with it about 8 restaurants, a bowling alley, a club, a TV broadcast studio…and in 2010, we have the Ritz, and a 15 screen movie theater. so, as you can see, while South Park might not have the amenities now, it sure will in the forecoming years. And all this isn’t including the ground-floor retail of all the new projects(Hanover, Concerto, 717 Ninth, Evo…)
While there may be little to do in South Park for now I walk all over Downtown LA and find so many interesting things along the way. Chinatown, Little Tokyo, Expo Park, K-town and even Hollywood are not far away either. That is unfortunate people moved away because this neighborhoon can only get better IMHO. I am here for the long haul!
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