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Palmer's Italian-Sounding Empire Expanding South

By Eric Richardson
Published: Wednesday, July 19, 2006, at 09:02AM

Back in December it was announced that some of the Orthopedic Hospital's land just south of Downtown was for sale. At the time reports were that the Hospital was in talks to sell the site to a developer who often built for Wal-Mart.

Instead, though, the parcel has been bought by developer Geoff Palmer, builder of the Medici and Orsini.

Geoff Palmer, the urban trailblazer who helped inspire an upscale housing boom in downtown Los Angeles' long-neglected core, has acquired a 9.5-acre parcel downtown from Orthopaedic Hospital for $70.5 million, hospital officials said Tuesday.

Palmer is expected to build more than 800 luxury apartments on the former hospital property on Flower Street between Staples Center and USC.

...

Palmer's Medici apartment development west of the Harbor Freeway is credited with demonstrating to the investment and development community the fresh demand for downtown living when it opened in 2002.

While Palmer's buildings have certainly done well financially, they don't say anything about Downtown living. They're fortresses that just happen to be on the outskirts. I don't think you could pick any other spots so close as are the Medici and Orsini and still have them be so isolated from access to Downtown.

I'm sure this new property will be much the same, and thanks to its proximity to the campus will be even more popular with USC students.

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