Which Way, L.A.? on Grand Ave Project
DOWNTOWN LOS ANGELES — Timely considering today's votes, yesterday's edition of Which Way, L.A.? was about the Grand Avenue Project and whether such a private development should receive public subsidies. I haven't had a chance to listen yet, but back in my commuting days Warren Olney's show was my favorite on KCRW.
While I don't pretend that the Grand Avenue Project is a savior of Downtown, I think this is just another piece of the puzzle and look forward to seeing it approved and built. Certainly $100 million is nothing when compared to the longterm rewards of the project and of a vibrant Downtown.
Update (12:30pm): And the project passes through City Council unanimously.
Update (2:15pm): Within an hour after the vote the Downtown News pushed a breaking news story to their website.
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Tim Quinn on February 13, 2007, at 11:21AM – #1
Most of that money is to help create affordable housing in the complex with very strict requirements that it actually be on the property and have the same entrance as the rest of the residential units. These units are set aside for people or families earning less than 35% of the median income. If the city requires this they have to help to make it happen. Building costs are out of sight right now. This is a very good thing, and it would not happen if it were totally market driven.
lastraphanger on February 13, 2007, at 11:54AM – #2
I agree--just approve the damn thing and build it. It's a hell of a lot better than what's there now--which is nothing but hideous parking structures and lots.
Joel C on February 13, 2007, at 02:11PM – #3
This City Council has now approved unanimously. The supes haven't voted on it yet.
Kenarch on February 13, 2007, at 02:39PM – #4
...and in the last sentence of the DT News article is a little bit of good ol' fashioned protectionism... the Westin Bonaventure certainly doesn't want any 5 star hotel nearby.
We're all far from perfect, but as I sit here working in my humble loft in the funky, gritty but interesting Fashion District, and I think of how other developers (Tom Gilmore, for example) have really worked above and beyond the minimum to help bring up Downtown, I am reminded of just why the Bunker Hill / Financial District feels like... a ghost town. Sure, the tax subsidies are controversial. Does the Mandarin Oriental mean a death knell for the well established, high quality Bonaventure? Of course not. Shove the lawyers in a place where the sun doesn't shine and get on with the project... it will ultimately benefit everyone, the Bonaventure included.
Haven on February 13, 2007, at 04:28PM – #5
It is great to have this project approved, i hope construction starts this year. I cant wait to have the horid parking structure across Disney Hall demolished. Kenarch - your right about the Bonaventure - they were all up in arms about the LA live hotel before as well, they complained and threatened until they were given to OK to convert their hotel partially to condos if they chose. Now they're complaining again..!..
Ankur on February 14, 2007, at 11:26AM – #6
the Bonaventure does not understand that all these project will mean a more vibrant downtown, with conventions, and more people going to their generic hotel!
God, soo short sighted.