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Market Be Damned, Downtown's Evo South Is Here

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Despite the current--and nauseating--seesawing of our financial markets, real estate development marches on, brave little soldier that it is. And Evo South, that 311-unit tower rising in South Park is nearly done (the building received its certificate of occupancy) and will open its doors for a big broker party tonight. This is developer South Group's third building in South Park (and its most expensive given the higher-end finishes); about 30 percent of the building's units are in escrow. Given market conditions, any price reductions? No, according to Rhonda Slavik, director of sales and marketing at Evo. "But we do understand the market and will work with buyers to make the sale." More information, prices and grilling of Slavik after the jump...

In the gallery: A two bedroom (about 1200 square feet) listed at about $800,000. There's also two, one-bedroom units in the gallery: One starting in the $600,000s, and one starting in the $400,000s (the latter is the unit with that crazy elk head).

We asked Slavik if South Group had changed its market strategy given the current conditions of the real estate market, and the answer was no, it's pretty much business as usual. But look at the number of downtown condos on the market right now, we said. 'We know it'll be a challenge," she said. According to Slavik, South Group has an edge because this is the first new construction building high-rise that'll go up in downtown until the year 2010. "You look at the architecture, the Silver LEED status, and there's nothing like this out there." Meanwhile, move-ins for residents are October 1. Part II--with photos of amenities--to follow.
· Downtown's Evo-South: Penthouse Plans, Sales Update [Curbed LA]

Evo South

1155 S. Grand Ave., Los Angeles, CA