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Condos Over Shopping?

Apr 13 by FISH        

We have all heard of infill development or re-development but a developer in Los Angeles has taken this to a new level.  The developer based in the UK paid $500 million for a former Robinsons-May Department Store in Beverly Hills. He plans to develop 252 luxury Los Angeles Condos overlook a famous country club.  This developer plans to model the complez after a famour condo building in London. A lot of people in the Los Angeles and Beverly Hills area are opposed to the development because a Waldorf-Astoria Hotel is also going up next door along with other new development and people are concerned about the massive amounts of further traffic the development would cause. Los Angeles already has tons of traffic. We actually drove up there the other day for a meeting and it took 4.5 hours to drive 120 miles. The new developments does sound pretty incredible but I can hear all the shoppers crying. I wonder if this is a trend that we will continue to see. In the major cities, with less land being available, I would imagine that we will see this a lot in the future as developers will do anything these days to find the perfect spots to build their condos.

Source: http://news.monstersandcritics.com/

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Mon, 04/30/2007 - 5:01pm — Daniel (not verified)

It's Beverly Hills and just

It's Beverly Hills and just about everything gets a "lift" now and then. While 120 private residences in three distinct buildings will be a major addition to this area, the new-er Beverly Hilton with the addition of the 120-room Waldorf-Astoria Hotel encompassing 9 acres will be just the right "lift" Beverly Hills needs. When you think about it, the corner of Wilshire and Santa Monica has long awaited an improvement for it is seriously lacking an aesthetically appealing outer core. But with the addition of apparently 500% more open space and gardens, improved pedestrian and traffic flow, I myself am relieved to know that beautification of some sort is on its way. In addition, one would believe, after reading the news release(http://phx.corporate-ir.net/phoenix.zhtml?c=88577&p=irol-newsArticle_Pri...) from the Hilton Hotels Corporation that neighborhood and environmental concerns have been addressed-albeit ever so small an improvement. Are we talking traffic problems though? Come on now! Los Angeles has long fought battles over traffic and its growing pains on the city. And as long as public transportation initiatives are placed on the "back burner" I think Los Angelenos should get used to traffic as we are the sunshine. Uh, let's get back to the Waldorf/Beverly Hilton. Sure, I too can be as skeptical as the next and am slightly concerned that investments can cloud those "neighborhood friendly" initiatives leaving the impact to the city not so favorable. But I believe in the legacy of the Waldorf-Astoria and the Beverly Hilton to not disappoint residents and visitors alike. But I further trust that those responsible for the development have done their homework.
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