When we heard about another new 39-story tower in LA with 283 condos priced in the $1M range, we thought we were watching that SNL skit where the news anchors say “Really? REALLY?” after every story. Do we Really need this? Really? Are the condos at The Century just flying off the shelf so fast that we need another high-end building in the same area? Really?
Crescent Heights is trying to get plans approved for a $184M condo tower to be located at 10000 Santa Monica Blvd. between Century City and Beverly Hills. If approved, it would take approximately 6 years to design and build. Maybe Crescent Heights thinks we’ll be out of this recession in 2017, which could be a good signal. They do have a good track record, having built the Remington in LA and Regatta in Marina Del Rey.