Douglas Elliman Scores Phase 2 of $1B Metropolis LA
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Douglas Elliman Development Marketing has been selected to exclusively handle sales and marketing for the second phase of Metropolis LA, the $1B mixed-use project in development in downtown (they were already the exclusive listing agent on Phase 1). Douglas Elliman chairman Howard Lorber says the listing solidifies his company as a major force in SoCal real estate. And it's hard to argue, with the second phase of the largest mixed-use in the West featuring more than 500 condos. The project is being developed by the US arm of Greenland Group, one of China's largest developers. We caught up with the CEO of Greenland USA at the site of Phase 1 earlier this year.
The 6.33-acre Metropolis is being developed in stages. Construction on Phase 1, a high-rise hotel and condo, is slated for completion in fall 2016. Phase 2 broke ground earlier this month and will be delivered about a year after the first. The project spans an entire DTLA block and is tucked between the Financial District to the north and LA Live and the Staples Center to the south.