The Largest Landholder Downtown Embarks On $120 Million “Experiment”
“A 36-story residential skyscraper is growing quickly at 717 W. Ninth St., eclipsing other South Park projects that remain just holes in the ground.”
“When it’s built, the condominium tower will be the tallest residential project in Downtown Los Angeles and the first in a wave of housing high-rises planned for South Park. But perhaps only Richard Meruelo, who remains the largest landholder in Downtown, could call a $120 million investment “an experiment.”"
“Residential in Downtown is still in the first or second inning of that game,” he said. “We didn’t want to be a pioneer on a nearly 40-story building.”
The building will have only 8 one or two-bedrooom units per floor, with a planned completion in 2009.
Story by Evan George at evan@downtownnews.com.