Downtown Developments Have Raised The Bar

Downtown Developments Have Raised The Bar
One development sees city living in the heart of Los Angeles as a combination of events, culture, fine food and proximity to it all.

After 14 years and 2.5 billion dollars, when AEG President and CEO Tim Leiweke says he has put everything into his new development, it is with no exaggeration. LA Live, Los Angeles' new downtown district is, as he puts it, "one of the most iconic projects ever built in any downtown community." Iconic is one of the rare words that can almost encompass the scope of what he, his company and their strategic partners have assembled here. Sprawling over a total of 27 acres, it will include venues like the new 40,000 square foot Nokia plaza, and the 7,100 seat Nokia Theatre to integrate with the pre-existing 20,000 seat Staples Center. It will also include over a dozen top quality restaurants, a hotel and yes even residences. The Ritz Carlton at LA Live will allow residents to live at the heart of it all, in style. Condos here will range in size from 1 to 3 bedrooms and range in price from 1 to 10 million dollars. This may seem steep but sales are looking optimistic. Leiweke reports that the property is attracting a diverse set of buys ranging from enthusiastic Laker fans looking to be close to the action, domestic and international business commuters, and even parents purchasing units for, or to be close to, their kids at nearby USC. This is a fitting mix, because in an environment which will suit a vast array of tastes, a diverse crowd will gather and thrive, much as Tom Leiweke's vision dictates.