LOS ANGELES, Feb. 7, 2014 /PRNewswire/ -- Douglas Elliman Development Marketing announces that it has been selected to exclusively handle sales and marketing for Metropolis Los Angeles, the highly anticipated $1 Billion dollar mixed-use project in Downtown Los Angeles. Developed by Greenland Group – China's largest real estate company – Metropolis Los Angeles is slated to be the largest-mixed-use development on the West Coast, and will reshape and redefine the character and skyline of Downtown Los Angeles. In its first major development project on the West Coast since recently announcing its new Beverly Hills location, Douglas Elliman Development Marketing will oversee sales and marketing during Phase I of the project. Architectural plans and renderings will be unveiled in a groundbreaking ceremony on February 14th; construction is expected to be complete in 2016.
"We are extremely proud to be part of Metropolis Los Angeles. This is a significant project for Greenland USA, for Douglas Elliman, and for the people of Los Angeles. We are confident that the project will sell quickly as Downtown LA is experiencing a major renaissance right now," said Susan de Franca, President & CEO, Douglas Elliman Development Marketing.
Phase one of Metropolis Los Angeles is to be designed by Gensler and plans currently consist of one high-rise hotel and one residential building, with phase two still in the development stage. All buildings are to feature high-end retail on the ground floor.
"This appointment signifies the beginning of Elliman's longstanding vision of expanding to the West Coast and we are proud to be participating in such a meaningful way," said Horacio LeDon, Managing Director of Douglas Elliman Development Marketing, and President of Douglas Elliman Development Marketing in Florida.
The Metropolis site comprises a full city block, strategically bordering the Harbor Freeway and situated between the Financial District to the north and the L.A. Live Hotel and Entertainment complex, including the Staples Center and the Los Angeles Convention Center, to the south.
"Greenland is excited to work with Douglas Elliman on this historic project, and we look forward to a very successful sales collaboration," added Ifei Chang, CEO of Greenland USA.
"This is a very exciting time for Douglas Elliman. With our first office opening in Los Angeles, and the announcement of our partnership on this project, the timing couldn't be better," added Howard M. Lorber, Chairman, Douglas Elliman Real Estate.
ABOUT DOUGLAS ELLIMAN DEVELOPMENT MARKETING
Douglas Elliman Development Marketing, a branch of Douglas Elliman Real Estate, offers unmatched sales and marketing expertise for properties throughout New York City, Long Island, Westchester and the Hamptons, as well as throughout the United States. The firm ranks amongst New York City's most prominent sales and marketing firms. Drawing upon decades of experience and market-specific knowledge, the Elliman team offers a multidisciplinary approach that encompasses every aspect of real estate including comprehensive in-house research, product development, marketing and sales, operations, property management, and mortgage financing. Through a strategic international partnership with Knight Frank Residential, the world's largest privately owned property consultancy, the company markets their properties to global audiences in 43 countries across six continents.
ABOUT DOUGLAS ELLIMAN REAL ESTATE
Douglas Elliman Real Estate is New York's largest residential brokerage, with over 70 offices in New York City, Long Island, the Hamptons , Westchester/Putnam, Los Angeles, and South Florida and more than 4,000 real estate agents and a network of national and international affiliates. They are strategic partners with London-based Knight Frank LLP for residential business in all of their New York markets. Douglas Elliman ranked in the top four of all real estate companies in the nation in 2007, 2008, 2009, 2010, 2011, 2012, and 2013. The company also controls a portfolio of real estate services, including Manhattan's largest residential property manager, Douglas Elliman Property Management, as well as DE Title and DE Capital Mortgage. For more information on Douglas Elliman as well as expert commentary on emerging trends in the real estate industry, visit the Douglas Elliman site at www.elliman.com
SOURCE Douglas Elliman