DTLA’s Biggest Development Takes Shape

Oceanwide Plaza has celebrated its topping off, a major milestone that brings the massive mixed-use project closer to completion. The $1 billion project will bring the first Park Hyatt and the Park Hyatt Branded Residences, a two-acre sky park that will include two dog parks and a 700-foot LED ribbon spanning almost a block. It is one of the largest projects to come to Downtown Los Angeles, which continues to change rapidly. To get an update on the project, the topping off ceremony and a vision of the market that the project will deliver into, we sat down with Thomas Feng, CEO of developer Oceanwide Plaza.

GlobeSt.com: Why is this such an important milestone for the project, and what was the response from attendees at the event?

Thomas Feng: The topping off of Oceanwide Plaza’s residential towers and the Park Hyatt hotel and residences signals a key achievement and showcases to both the greater Los Angeles and global community that we are on track to deliver a project that will not only redefine the Los Angeles skyline but the city’s residential, retail and lifestyle offerings. Through Oceanwide Plaza, we are able to fulfill our promise of instilling a new standard of urban living in the South Park neighborhood of downtown Los Angeles. As our first flagship real estate project in the United States, we wanted to create a vibrant city center that our future guests will connect with the moment they arrive. From conceptualization to construction, our team is devoted to delivering the most significant mixed-use development in the history of downtown LA and reaching the topping off milestone gets us that much closer.