Meruelo Maddux Tops Off Downtown Los Angeles Project

Meruelo Maddux Properties Inc. has topped off its 35-story residential tower located at 717 W. 9th St. in downtown Los Angeles, it has announced. When completed, it will be downtown’s tallest residential building.Despite turbulent credit markets, Meruelo Maddux successfully completed an $84 million construction loan for the 717 West 9th St. project in August 2008. No additional borrowing should be need to finish the project. The financing came from an affiliate of Canyon Capital Realty Advisor L.L.C.The Euro-Asian inspired tower, located at the corner of Flower and Ninth St., near the Staples Center, LA Live, and adjacent to the financial district, will house 214 one- and two-bedroom apartments and four penthouse units. The project has views of downtown, the west side of Los Angeles and the Pacific Ocean. Amenities will include a 70-foot lap pool, spa, fitness facility, cabanas and firepits on the amenities deck. High-speed elevators will provide secure access to each floor. A green mosaic glass curtain wall will wrap the building with a three-color aqua green staggered pattern to resemble a cascading waterfall. Five levels of parking, 372 parking spots in all, will be wrapped in mesh metal skin. The project has also been designed to meet LEED building standards. Meruelo Maddux began construction in December 2006 and expects to complete the project by September 2009.