Sydney, Australia, April 21, 2020 (GLOBE NEWSWIRE) -- Leading Australian residential developer Crown Group has taken the next steps in its first move into the US market, where it plans to develop a US$500 million mixed-use high-rise condominium and hotel tower that will bring a touch of the enviable Aussie lifestyle to LA’s burgeoning Downtown district.
Crown Group is progressing entitlements with Los Angeles City Hall for the proposed tower, which is earmarked for the southeast corner of South Hill and 11th streets at the convergence of Downtown’s financial, fashion and South Park districts. Crown Group has formed a joint venture with a Singapore based company called Magnus Property Pte Ltd and one of Indonesia’s biggest property developers, ASRI, the premium lifestyle brands division of Agung Sedayu Group, which has won 20 awards for 33 projects since they were founded in 1971. Some of ASRI’s most notable developments include The Langham Jakarta (the first in Southeast Asia), The Langham Residences (the first Langham-branded residence in the world), as well as premium estates such as Fatmawati City Center and District 8 in the heart of Jakarta’s CBD. The joint venture group settled on the Downtown site in November 2019.
The striking 43-storey tower has an inspirational design by world-renowned Koichi Takada Architects and is destined to redefine the Downtown skyline. It will embody Crown Group’s philosophy of melding inspired architecture with a futuristic vision of a new way of living, to become an iconic landmark for the city. The project at 1111 Hill Street is expected to be completed in 2024.
The high-rise sections of the building will comprise 319 condominiums with an exclusive residents’ retreat over the top two floors and a façade design that references California’s gigantic ancient redwood trees. A dramatic street canopy will ground the tower and incorporate a “breathing green wall”, designed to improve the city’s air quality and introduce a unique landscaping feature to the Downtown streetscape.
Crown Group’s LA office is also in discussions with several luxury hotel brands to incorporate a 160-key hotel in the low rise of the building, which is set to become one of the city’s’ most desirable getaways.
Crown Group CEO Iwan Sunito said the flourishing Downtown district of LA had experienced a significant transformation over the past decade. This is evidenced by LA Live’s expansion, Warner Music and Spotify establishing offices, headline retailers such as Apple, Vans and Paul Smith launching flagship stores, a bevy of iconic restaurants opening venues and numerous residential, hotel and commercial developments underway.
“It’s rare to find the central district of a large cosmopolitan city on the verge of such significant change,” he said. “Downtown is experiencing a once in a generation revival – led by the heightened convergence of tech, media and entertainment in Los Angeles. There’s a great deal of investment and it’s exciting to think of what Downtown will be like in another few years’ time. It will be a highly sought-after place to live.
Crown Group Head of US Development Patrick Caruso said the development would offer an appealing point of difference for buyers in Downtown LA and bring a new version of condominium living to the district.
“It’s a fast-evolving part of the city yet there is limited choice when it comes to well-designed homes,” Mr Caruso said. “We anticipate that this new mixed-used development, which will offer attainable luxury living with never before seen facilities including an exclusive rooftop residents’ retreat, collocated with a quality branded hotel will be very well received by those looking for a new condominium.
“It’s clear buyers are seeking more diverse offerings, so our fresh and unique Australian approach of functional resort style-living melded with sophisticated architectural design will fill a significant gap in the market.”
Established in Sydney in 1996, Crown Group has built its reputation on delivering iconic luxury developments and today has a $5 billion pipeline spanning five cities and two continents.
Crown Group and Koichi Takada Architects are the creative pairing behind a series of major residential apartment projects in Australia including a stunning condominium and hotel tower called Arc by Crown Group in Clarence Street Sydney, which has won numerous international awards.
In 2019 they completed the sell-out Infinity by Crown Group, with its famous looped shape, at Green Square, just 4km from Sydney centre. Koichi Takada has also gained worldwide recognition for designing the stunning interiors of the National Museum of Qatar in the Middle East, which were unveiled in 2019.
Mr Takada said the new development would seek to incorporate a sense of greenery and of “human scale”.
“It is our desire, through a nature-inspired approach to architecture, to transform an old warehouse district into a living breathing neighbourhood in LA,” Mr Takada said.
“We want to humanize tall buildings, to celebrate the pedestrian activities and consider how people experience it,” he said. “We want our tall building designs to be more engaging for the public, and to contribute to the community by activating and creating a connection with the neighbourhood.”
For more information, email losangeles@crowngroup.com.au or phone the Crown Group Los Angeles office on 8443 406 196 from within the US or 1300 754 443 within Australia.
Follow @crowngroup_usa on Instagram
About Crown Group
Crown Group Holdings (Crown Group) is a leading Australian property group specialising in property development, property investment and serviced apartments. The company was co-founded by architect Mr. Iwan Sunito and engineer Mr. Paul Sathio with its first project in Sydney in 1996.
Crown Group has successfully completed major developments in Sydney’s best locations including Bondi, Bondi Junction, Parramatta, Ashfield, Epping, Homebush, Newington, Pennant Hills and Rhodes and most recently the 25-storey Arc by Crown Group in Sydney CBD and 2017 Property Council of Australia’s Annual Property Congress’ one of the World’s Best Projects Infinity by Crown Group in Green Square.
Today, Crown Group boasts a portfolio of six major projects under development and in the pipeline. It is currently developing three major projects in the Sydney area: the $500 million five tower precinct Mastery by Crown Group in Waterloo being developed with Mitsubishi Estate Asia; Waterfall by Crown Group in Waterloo; and Eastlakes Live by Crown Group the most exciting new address in the Eastern Suburbs.
About Koichi Takada Architects
Koichi Takada Architects is a Sydney-based boutique architecture firm, led by Koichi Takada and founded in Sydney in 2008. Through a series of award-winning designs, the growing practice is gaining an international reputation and is about to change the skylines of Sydney, Brisbane, Tokyo, Los Angeles and Mexico City.
Recent projects include Crown Group’s Infinity in Green Square, a $525 million futuristic mixed-use development, shapes like a giant loop, nicknamed The Doughnut; another is Arc in Sydney CBD, the a 22-storey building podium with a series of layered brick masonry arches and public rooftop gardens in striking curved white rib cages.
In collaboration with world-renowned Japanese architect Kengo Kuma, the practice has recently won a new landmark development in Waterloo. Koichi Takada Architects is also working on six interiors of the National Museum of Qatar currently under construction in Doha; the external architecture designed by the 2008 Pritzker Prize winner, French architect Jean Nouvel.
www.koichitakada.com
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