reversing the trend: asian investment in los angeles - the korean air green, to d, mixed-use, fully...
TRANSCRIPT
Reversing the Trend: Asian Investment in Los Angeles
Christopher C. Martin, FIAI -- Moderator
Ayahlushim Getachew -- Panelist
David C. Martin, FAIA -- Panelist
William Roschen, FAIA -- Panelist
Project Economics• Total project cost estimated at +$1 billion• Office cost = $500-575/sf (all-in)
– Up to 1.5 million SF– 50% pre-leasing likely required to secure
financing• Hotel cost +/- $550,000/key (all-in)
– 650-1,100 keys– 25 yr. TOT Subvention - $54 to $79 million
(NPV$) – 50-65% LTC financing
Objectives of the Study
1. Define an efficient, cost effective hotel and office plan.
2. Create a great urban place.
3. Create an exemplary sustainable project appropriate to Southern California.
4. Create an iconic building which results from a poetic interpretation of the above.
Vision
1. Economy / Simplicity
2. Community
3. Man / Nature
4. Lyricism