Chinese developer unveils plans for Metropolis project in Downtown L.A.
Chinese real estate developer Greenland Group revealed plans Friday for a quick start on the first phase of its $1-billion Metropolis Los Angeles project that is expected to redefine the downtown skyline.
Work is set to begin shortly on a high-rise hotel and a residential skyscraper on what is now a vast parking lot along the 110 Freeway north of Staples Center and LA Live. The buildings should be open by 2016.
"Greenland USA is pleased to join the downtown Los Angeles community and to make one of the largest investments in downtown in recent history," Chief Executive Ifei Chang said in a statement.
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