Tag Archives: Oceanwide Plaza

Los Angeles’ Development News

los-angelesFrank Gehry recently designed a project comprising a 234 foot tall tower for the eastern edge of the Sunset Strip.  This was just unanimously accepted by the LA City Council, which means following its completion, the area will be privy to two residential towers, a shopping center and terraced gardens.

In 2019 a Park Hyatt hotel will open in downtown LA as part of the Oceanwide Plaza project.  Comprising 184 rooms, it will be located right by L.A. Live and the Staples Center.  Developed by Oceanwide Holdings, the plan for the area is also over 500 luxury residences and a 166,000 sq. ft.  open-air retail and entertainment galleria.

The good news with all of this construction is that the environment will not necessarily be negatively impacted.  In fact, over the last 10 years or so, the region has developed a reputation for becoming a “hub of green building activity.”  One example of this was back in 2002 when LA became the first US city to request LEED certification for practically all of its new municipal buildings.  Seven years later this requirement escalated from a mere certification to LEED Silver which renders an even greater commitment to establish sustainability from each new municipal building that appears in the skyline.

These green efforts are continuing as by 2020 all new residential construction statewide is being ordered by the California Energy Commission to be zero net energy by 2020 and by 2030, new commercial construction to follow suit.