There is a lot to be considered when it comes to developing megaprojects in LA.

LT Platinum Center executive director Randy Jefferson,
Jamison Services CEO Jaime Lee, Allen Matkins partner Fernando Villa and The Athens Group COO Jay Newman said it takes a lot to bring these projects to fruition.

The Athens Group is the development partner of The Wanda Group for One Beverly Hills, which includes a 134-room hotel, 193 luxury units, public gardens and open space.

Jay (left) said he has learned some hotel owners want to keep the market closed.

However, the Waldorf-Astoria, which will be a competing hotel in the same area, is a project Jay said he supports. Both the Waldorf-Astoria and One Beverly Hills are at the corner of Wilshire and Santa Monica boulevards.

While sometimes people think all competition is bad, he said he thinks competition makes you better and is a good thing.

Fernando (right) moderated the megaprojects panel at Bisnow's Future of SoCal event.

Jaime (left) said the opportunity to build Circa, a $500M, dual-tower, mixed-use project near LA Live and Staples Center, seemed like an opportunity Jamison Services shouldn't miss.

The company is not only changing the DTLA skyline but also creating a residential and entertainment destination, according to Jamie.

Randy said Anaheim has been terrific to work when it comes to entitlements for his firm's project, LT Platinum Center.

Construction is expected to begin by the end of next year on the $450M mixed-use development.