5 Top Foreign Investments In LA
LA has long been a draw for foreign investors and continues to pull in capital, as these projects show. Check out the latest at Bisnow's LA Annual Foreign Investment Forum event July 14 at the LA Athletic Club.
Metropolis
Shanghai's Greenland USA is building the massive Metropolis, expected to cost about $1B.
Four high-rise towers with more than 1,500 condos will sit on 6.3 acres, replacing a parking lot in South Park in DTLA. The first residential tower is nearly 75% sold, according to the Metropolis sales office.
There will be 70k SF of retail space as well as a boutique hotel with 350 rooms.
The entire project is expected to be completed by the end of 2018.
9900 Wilshire Blvd
The Wanda Group, China's largest developer of commercial property, is building One Beverly Hills.
The $1.2B condo and 134-room hotel development is near the LA Country Club.
One Beverly Hills will include 16k SF of luxury residential space with 193 units and 1,083 parking spaces.
It is scheduled to open in 2019.
The Luxe Hotel
Shenzhen Hazens purchased the Luxe Hotel, along with two adjoining lots, for $105M in August 2014.
The $700M complex includes a hotel, retail space and condos.
The W Hotel will open its third LA location with a 250-room hotel built on the current hotel's parking lot. Gensler is the designer for the project.
The new complex could be completed by 2019.
The group also owns the Sheraton Gateway Los Angeles Hotel near LAX.
Wilshire Grand
The Wilshire Grand in downtown LA is a 1,100-foot-tall tower designed by A.C. Martin.
Work recently started on the latticework that will attach to the steel spire.
The $1.2B project will include a 900-key InterContinental Hotel, more than 45k SF of retail and restaurants, and around 360k SF of office space.
It is being developed by Korean Air and Martin Project Management.
When it is completed, it will be the tallest tower west of the Mississippi.
The tower is expected to open in March of next year.
Oceanwide Plaza Project
Beijing's Oceanwide Properties bought the property across the street from Staples Center in December 2013 for $200M.
The 4.6-acre development will include three high-rise residential towers with a total of 504 condos and 183 hotel rooms and around 150k SF of retail space.
There will be a large public plaza. The development is expected to cost around $1B and could be completed by the end of 2018.
Check out more foreign investment projects at Bisnow's LA Annual Foreign Investment Forum event July 14 at 7:30am at the LA Athletic Club. Sign up here.
