[All quiet: Part of the 2121 Lofts development]
Dropping by 2121 Lofts, that planned downtown development on 7th Place that has dropped off the radar in terms of news (basically, there's been none), the security guard at the site told us that the sales office had closed and would re-open next year. Construction will resume next year, confirms Lapchih Fan of Concerto Development, the project's developer. Separately, a spokesperson for Phoenix Realty Group, a longtime partner of Concerto Development on the project, said that the construction note on 2121 Lofts (the lender was East/West Bank) has been purchased by Phoenix. While neither Fan nor the rep for Phoenix would elaborate further, the delay is only slightly ironic given that tenants were relocated for the project. But as fans of the Arts District, we do hope to see 2121 up and running soon: Nearby pub Royal Claytons needs some new faces and the dog owners are quite clear in their desire for that planned new dog park.
· Rumblings & Bumblings Responses: Rio Park and 2121 Lofts [Curbed LA]