ECHO PARK: Anyone who lives in Echo Park knows about the stallage of The Durbin, developer Angeles Group's townhome project at 1631 N. Echo Park Avenue. Work on the project stopped earlier this year after the failure of IndyMac (which eventually turned into IndyMac Fed), which had the loan on the project. In March, Pasadena-based OneWest Bank Group took over IndyMac Fed, but it's been unclear what would happen with this lot. Back in May, Adam O'Neill, principal at Angeles Group, sounded pretty glum, and told us there wasn't much of an update. Quite frankly, it seemed like OneWest Bank Group wasn't even returning phone calls to Angeles Group. Well, checking with O'Neill this week, it sounds like there's been movement! A far more upbeat-sounding O'Neill told us that he and OneWest Bank are having discussions and Angeles Group recently submitted "cost to complete plans." Good luck to everyone involved. Meanwhile, a small forest has sprung up on the site. [Curbed Staff]
LOS ANGELES: News of a name switcheroo comes via HotelChatter: "The Kor Hotel Group has announced this morning that they have officially changed their name to The Viceroy Hotel Group. The change follows the 2008 partnership that Kor Hotels entered with Abu Dhabi’s Mubadala Development Company, who is now funding the Viceroy Hotels expansions." The Kor Group, the larger company, does not appear to have changed names. [Hotel Chatter]
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