30-Story W Hotel Coming to LA-Live-Adjacent Megaproject

shenzhen 1

by Bianca Barragan with Curbed LA

LA Live’s getting a new neighbor: a W Hotel. Shenzhen Hazens, developer of ahuge mixed-used project that’ll rise along Figueroa between Olympic and Eleventh Street in South Park, announced today that the 250-room hotel in their project will be a five-star outpost of the bougie hotel chain (part of the Starwood Hotel and Resort group). The Downtown News reports that the will be housed in a 30-story tower at the northeast corner of Eleventh and Figueroa, which will be constructed at the same time as a 30-story condo tower on the northwest corner of Eleventh and Flower.

That first phase of construction is set to begin in 2017, with the W Hotel opening in 2019. The second phase of construction would see the demise of the Luxe Hotel and the rise of a 42-story condo tower on its site. The completed project would have 650 condos in addition to those 250 hotel rooms.

This hotel joins several other huge hospitality projects in and around LA Live: the 755-room, 38-story expansion of the JW Marriott/Ritz-Carlton; the 350-roomHotel Indigo set to operate out of the Metropolis megaproject; and the 183-room, Roberto-Cavalli-styled, five-star hotel in megaproject Fig Central. Downtown in general is experiencing something of a hotel boom these days, but the city’s been pushing to get more rooms in the area around the LA Convention Center in particular.
· W Hotel Coming to South Park Mega-Project [DN]
· Revealed: Third Megaproject That Will Transform South Park [Curbed LA]
· South Park Megaproject Metropolis Getting 18-Story Boutique Hotel Indigo[Curbed LA]
· LA Live’s Marriott/Ritz-Carlton is Getting a 38-Story Expansion [Curbed LA]
· New Look at Massive South Park Megaproject Fig Central and Its Roberto Cavalli Hotel [Curbed LA]

Flip this! Midcentury-Modern needs updating

Here’s the exciting part of real estate- finding properties that have a huge upside. Let’s be real- I’ll be the first to tell you that not all properties have potential. A lot of properties are garbage and will always be garbage. But there are some properties that are clearly a slam dunk.

Follow these simple guidelines and be the one to capitalize on the right opportunities:

1. Location– while prime neighborhoods are always preferred, prices might be too high to enter. Go one step down and focus on neighborhoods that are adjacent.

2. Follow the nerds, hipsters, and the gays. They have money. When was the last time you met someone who was brilliant and interesting, and at the same time on food stamps? Never. Gays- they dress well, they’re fancy, and many times have dual professional incomes. Hipsters are rich kids trying to be poor- think “ghetto” B. Rad from Malibu’s most wanted.

3. Appeals to the International market– your property will be more valuable if people locally and internationally like it. Quite simply: more people want your property.

4. Design it right– Make it look like Crate and Barrel, West Elm, or Restoration Hardware. Buyers are quick to make solid, non-insulting offers on homes that are brand new and shiny.

5. Don’t overthink it– Look at the past sales and trust your gut. Over thinking gets you nowhere. The market right now is filled with cash buyers and homes are getting multiple offers. Buyers are coming locally and internationally.  When you find the right property ACT FAST! Good deals don’t last forever.

Here’s a property that fits all the criteria:

4 Beds | 4 Baths | 3,046 sq ft

Available for- $810,000

Remodel cost- $80,000

Future sales price- $1,175,000

Estimated profit- $210,000

Remodel time- 30 days

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Here’s a property similar in design and the same neighborhood.

5 beds | 5 baths | 3,982 sq ft

SOLD for $1,295,000

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Another home sold close by:

4 Beds | 4 Baths | 3,326 sq ft

Sold for $1,300,000

Not fully remodeled!

20 days on market

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New to Market 9/9/14

1301 Summitridge Dr, Beverly Hills | $6.6m

5 Beds | 8 Baths | 5,833 sq ft

ONCE KNOWN AS THE LEGENDARY BARRYMORE ESTATE, THIS GRAND HOLLYWOOD ERA RESIDENCE OF CLASSIC PROPORTIONS AND TIMELESS ELEGANCE OFFERS LAVISH FINISHES AND GRACIOUS COMFORTS. EXQUISITE DESIGN, MASTER CRAFTSMANSHIP & OPULENT FINISHES BLEND SEAMLESSLY TO CREATE AN INTERNATIONAL MASTERPIECE WITHIN THE LUXURIOUS ENCLAVE OF BHPO, JUST MINUTES FROM THE HISTORIC BEVERLY HILLS HOTEL. OFFERING A BROAD SWEEP OF ULTRA-PRIVATE, LUSHLY LANDSCAPED GROUNDS WITH OVER-SIZED POOL W/ CABANA WHICH RIVALS ANY BOUTIQUE HOTEL, 2 EXPANSIVE MASTER SUITES WITH GRAND CITY, OCEAN & CANYON VIEWS, 2 ADDITIONAL WELL APPOINTED BEDROOM SUITES AND AN OFFICE, WHICH CAN BE USED AS A 5TH BEDROOM ALL HAVE SPECTACULAR VIEWS, EXCEPTIONAL ENTERTAINING AREAS, A FORMAL 2 STORY LIVING ROOM W/ BEAM CEILINGS & HARDWOOD FLOORS W/ BAR, A FORMAL DINING ROOM W/ A FIREPLACE, FAMILY ROOM, KITCHEN W/ A LARGE CENTER ISLAND & BREAKFAST BAR, LIGHT-FILLED LOGGIA HOUSING THE GYM AND VIEW TERRACES THROUGHOUT.

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104 The Strand, Manhattan Beach | $13.9m

3 beds | 3 Bath | 2,234 sq ft

Beach front. Prime South End Manhattan Beach Strand lot location. Price includes plans for a mega multi million dollar contemporary estate.

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453 Bellagio Ter, Bel Air – Holmby Hills | $8.75m

6 Beds | 8 Baths | 9,465 sq ft

NEWER PRIVATELY GATED TUSCAN VILLA BUILT BY WORLD RE-KNOWN AULERT DEVELOPMENT. FEATURING THE AMENITIES OF A MAJOR ESTATE. GRAND ROOMS INCLUDING A SCREENING ROOM, OFFICE, GAME ROOM, TEMP. CONTROLLED WINE ROOM, FAMILY ROOM,STATE-OF-THE-ART INDOOR AND OUTDOOR KITCHENS WITH NUMEROUS VERANDAS AND BALCONIES TO ENJOY THE ULTIMATE SOUTHERN CALIF.LIFESTYLE. CRESTRON SMART HOME TECHNOLOGY SYSTEM FOR THE MOST DISCERNING BUYER .ELEVATOR. BEAUTIFUL POOL AND SPA. SEVEN CAR GARAGE FOR THE CAR ENTHUSIAST.CONVENIENT LOWER BEL AIR LOCATION.

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