The swanky meter is getting dialed to 11 in Downtown Los Angeles. Rumor has it that the rarified Soho House club will be opening its second LA location in a six-story warehouse in the area’s Arts District.

The facility will include the usual boojie facilities as well as a rooftop pool and artist studio rooms where guests can stay for weeks and months, as if they were staying at the Chateau Marmont.

Meanwhile it’s a great time to be a Chinese developer in nearby South Park. Beijing-based Oceanwide and Shanghai-based Greenland Group are already building two of the largest projects in the city. Now Shenzhen-Hazens Real Estate Group has announced plans to build a $700 million project including three towers across from LA Live. Eavesdrop better start practicing its Mandarin.