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Multiple new bids to takeover the unfinished Oceanwide Plaza complex in downtown LA were reported last week in what could be a positive sign for its future. As per connectcre.com's reporting, an auction has been scheduled for “mid-September.” The update comes after months of speculation... View full entry
With a potential fire sale of the residential, hotel and retail project approaching, a far more complex and expensive question looms over one of the region’s all-time real estate catastrophes: Can it be saved from the wrecking ball? — LA Times
With the fate of LA’s graffiti-tagged Oceanwide Plaza in the balance, the LA Times' Roger Vincent looked into the lack of viable options, finding several CRE experts’ opinions that simply "it’s not worth the risk" trying to "fix" the currently 60% complete three-tower development. This... View full entry
The Chinese owners of the stalled residential, hotel and retail complex towering over Crypto.com Arena have hired real estate brokers to sell the property to buyers who could restart the project after work stopped in 2019. Taggers recently covered its outer walls with graffiti visible from far away. — LA Times
The LA Times also reports the brokerage firm Colliers to have submitted an application estimating the property’s current value at $485 million and stating it is still just 60% completed. Another $865 million would be required to finish the block-scale development designed by CallisonRTKL. Some... View full entry
Mexico’s second-largest city, Guadalajara, is getting a brilliant new biophilic airport terminal courtesy of CallisonRTKL. The 1.2-million-square-foot Terminal 2 expansion project promises a stress-relieving, traveler-friendly design and is also aiming to become one of the only net-zero airport... View full entry
This post is brought to you by Microsol Resources On April 14, 2021, Microsol Resources is doing a spotlight on the latest innovations in construction and design at TECH Perspectives. This is a continuation of our TECH Perspectives conferences and now hosted online and brings together thought... View full entry