I recently organized an event at The Metropolis in Downtown LA, a four building, one billion dollar condo complex. Not only does the under construction mega project consist of luxury condos, it is also home to the 18-story Hotel Indigo.
The Hotel Indigo consists of 50 rooms, a ground floor eatery, 18th-floor cocktail lounge with fantastic downtown views and interiors designed by Hirsch Bedner Associates described by the LA Times as the “retro-future tower”.
It’s a pretty epic spread of towers and after touring the property, I had a billion questions about when it would be completed, but apparently the answer is not so straight forward.
The 350-room Hotel Indigo is the first of two Metropolis towers to be listed for sale. Developer, Greenland USA recently put it on the market for $280 million. So, start saving your quarters, kids!
Shortly after listing the 18-story hotel, its developers put a second Metropolis building on the market.
It is rumored that the money from the sale will help complete the development of the surrounding Metropolis.
Although condo prices have not been affected in this process, when it comes to the Hotel Indigo, it’s been reported that Greenland is now considering converting all the units into rentals.
Greenland USA is publicly traded on the Shanghai Stock Exchange, the recent shake up is most likely because China’s government is moving to curb domestic companies’ investments abroad.
Towers II & III are said to complete development in 2019. GET. ‘ER. DONE!! ;)
Metropolis Los Angeles, one of the most anticipated mixed-use developments in Downtown Los Angeles.
Senior Sales Associate
Photo Credit: Krista Perez // Geo Louis // Metropolis