The massive $1 billion Metropolis development is quickly rising just one block away from LA Live. The third of four planned towers topped out at 40 floors Friday, and the developer has launched sales for its 514 condos, which include a mix of studios and one- and two-bedroom units.
Wedged between the 110 freeway and Francisco Street, Metropolis is the largest mixed-use project under construction right now in Los Angeles.
Metropolis sits on 6 acres and is expected to be completed by 2018. The complex will hold 1,500 condos across three residential towers, plus an 18-story hotel, 65,000 square feet of retail space, 3.5 acres of "sky parks," and public art installations by Susan Narduli and Refik Anadol.
KPCC has reported that about one-third of the condos might be sold to foreign investors. The developer, Greenland Holding Group, which has a major business presence in China, is actively marketing the project in Asia and anticipates more than 30 percent of its sales to be made to be overseas buyers.
Tower 1 topped out earlier this year, and the developer says it’s already more than 70 percent sold. Greenland anticipates that move-in dates will be set for the end of this year.
The condos in both towers, designed by SPAN Architecture, start in the mid $500,000s and climb to more than $2.3 million. Amenities will include an indoor pool, a rooftop pool, a dog park, yoga studios, meditation gardens, a theater, a gym, and playgrounds.
- Will the Metropolis Megaproject Be a Downtown LA Ghost Town? [Curbed LA]
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- Megaproject Metropolis's Condo Pricing, Renderings Revealed [Curbed LA]
- South Park Megaproject Metropolis Selling Yet-to-Be-Finished Condos Starting at $555K [Curbed LA]