The Los Angeles Business Journal reports that Jean Nouvel’s 45-story tower in LA’s Century City, 10000 Santa Monica Blvd. (pictured above), has been put on hold. The “Green Blade,” as it had been nicknamed, was to have an extremely thin 50-foot floorplate, permitting north and south glazing for all of its 177 units. Each unit was also to be wrapped outside with plants, resting on projecting podiums.
“We have been unable to obtain assurances of continued funding that would allow us to move forward with confidence at this point in time,” the building’s developer, SunCal, said in a statement.
According to the Journal’s story, vacancy rates have doubled in parts of Los Angeles, Class A office buildings are opening without tenants, and high-profile marquee projects are “being all but abandoned.” Yikes.