Florida Virtual Houses

Meruelo Maddux Closes on $84M to Finish L.A. Residential Tower

August 5th, 2008

Unlike a bevy of construction projects across the country, development of the upscale 214-residence apartment high-rise at 717 W. Ninth St. in Los Angeles will not fall victim to the credit crunch, as Meruelo Maddux Properties Inc. has just closed on an $84 million construction loan. The 35-story structure, located across from the Staples Center sports arena and the $2.5 billion L.A. Live mixed-use project, is part of a long list of developments that are contributing to the multi-billion remake of downtown Los Angeles.

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