"
Despite turbulent credit markets, Meruelo Maddux successfully completed an
The Euro-Asian inspired tower, located at the corner of Flower and Ninth
Street across from downtown's only major supermarket, Ralphs Fresh Fare, and
near the Staples Center, LA Live, and adjacent to the financial district, will
feature 214 luxury one and two bedroom apartments and four penthouse units.
The project boasts dramatic views of downtown, the west side of
Resort-style amenities will include a 70-foot lap pool, spa, fitness facility, cabanas and firepits on the amenities deck set amidst lush landscaping. High-speed elevators will provide secure access to each floor. Each of the apartments will be well appointed with high-end finishes and appliances, walk-in closets and state-of-the-art technology. The property will include 24-hour digital security, valet parking and a concierge.
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 (Leadership in
Energy and Environmental Design) Green Building standards. Meruelo Maddux
began construction in
About Meruelo Maddux Properties
Meruelo Maddux Properties is a self-managed, full-service real estate
company that develops, redevelops and owns commercial and residential
properties in downtown
Safe Harbor Statements
This press release, together with other statements and information
publicly disseminated by the Company, contains certain forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
The Company intends such forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 and includes this statement for
purposes of complying with these safe harbor provisions. Forward-looking
statements in this press release include statements about the accounting
treatment of the FedEx property sale. You should not rely on forward-looking
statements since they involve known and unknown risks and liquidity,
uncertainties and other factors that are, in some cases, beyond the Company's
control and which could materially affect actual results, performances or
achievements. You should carefully consider these risks before you make an
investment decision with respect to the Company's common stock, along with
potential changes to generally accepted accounting principles generally
accepted in
SOURCE Meruelo Maddux Properties, Inc.