With our free press under threat and federal funding for public media gone, your support matters more than ever. Help keep the LAist newsroom strong, become a monthly member or increase your support today.
This is an archival story that predates current editorial management.
This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.
Condos at L.A. Live Scheduled to Open Soon
Looking up at the Ritz-Carlton LA Live tower (Julie Wolfson/ LAist)
()
By Jessie de la O/Special to LAistThe much-anticipated condos at L.A. Live are scheduled to open starting this month. The first escrow is set to close on Tuesday in the high-rise, luxury condominium complex located at the Ritz-Carlton Hotel in downtown Los Angeles, according to the LA Times.
Last summer, developer AEG reduced the prices on the condos between 10% to 20%. The one-to-three bedroom units, which range in price from $850,000 to $9.3 million for a penthouse, have been under construction since approximately 2006. The Times reports that some owners will be allowed to move in to their condos sometime this month, while work will continue on other units through late April.
Although AEG is not revealing the identities of the new condo owners, they have acknowledged that they include entertainers, pro athletes and the working professional. In addition, the homeowners will have preferred access to all amenities at L.A. Live, such as to restaurants and events, as well as have access to AEG Global events—including concerts.
After a decline in the downtown condo market, business is beginning to improve again and it’s due to the Baby Boomers and Generation X, who are in favor of living a slightly different lifestyle in comparison to how their parents grew up.
At LAist, we believe in journalism without censorship and the right of a free press to speak truth to those in power. Our hard-hitting watchdog reporting on local government, climate, and the ongoing housing and homelessness crisis is trustworthy, independent and freely accessible to everyone thanks to the support of readers like you.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
Chip in now to fund your local journalism
(
LAist
)
Trending on LAist
-
The Palisades Fire erupted on Jan. 7 and went on to kill 12 people and destroy more than 6,800 homes and buildings. -
People moving to Los Angeles are regularly baffled by the region’s refrigerator-less apartments. They’ll soon be a thing of the past. -
Experts say students shouldn't readily forgo federal aid. But a California-only program may be a good alternative in some cases. -
Distrito Catorce’s Guillermo Piñon says the team no longer reflects his community. A new mural will honor local leaders instead. -
The program is for customers in communities that may not be able to afford turf removal or water-saving upgrades. -
More than half of sales through September have been to corporate developers. Grassroots community efforts continue to work to combat the trend.
Best of LAist