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Residences at L.A. Live: Moving Like Hotcakes, Says Developer

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What downtown downturn? Reporting on L.A. Live developer Tim Leiweke's speech yesterday at the Southern California Investor Symposium at the Beverly Hills Hotel, Globe St. reports that the Anschutz Entertainment Group (AEG) president and CEO stated that the Ritz-Carlton Residences at L.A. Live is two-thirds sold out. The residential portion of the downtown mixed-use complex, the Ritz-Carlton Residences have 224 units. Globe St. also reports that contrary to the rest of the country, Leiweke said prices are rising at the complex--the condos are currently selling for $1,200 a square foot. When sales started--around last July, according to an AEG spokesperson--they were selling for $880 per square foot, said Leiweke. [UPDATED image. Rendering via Gensler.]
· L.A. Live Developer: Time To be Bullish [Globe St.]
· LA Live Condos Priced to Sell [Curbed LA]