Monday, September 24, 2012

"$95 million apartment project"

DOWNTOWN LOS ANGELES - During the height of the Downtown housing market, few projects sounded as exciting as the one proposed for 1340 S. Figueroa St. Architecture enthusiasts were breathless over the plan for Daniel Libeskind, the designer of the acclaimed Jewish Museum in Berlin and the master plan architect for the World Trade Center site in Manhattan, to work on a 43-story tower just a few blocks south of L.A. Live.

Like many of the projects broached several years ago, the development from Korean company Human Technologies LLC never came close to breaking ground. Now, the site is being envisioned for a far more modest development.

The ironic part is that, while the new plan lacks the spectacle of one with the Libeskind imprimatur, it is far more likely to happen. In fact, a developer aims to break ground on a $95 million apartment project next year and open a pair of seven-story towers with a combined 247 units in 2013.

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