Industry News

Promises, pitfalls in downtown L.A.

Officials win one, lose one in efforts to enhance urban core

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

In a stark contrast between downtown Los Angeles' vast potential and its present-day woes, one of the world's best-known architects today unveiled his long-awaited plans aimed at turning the Civic Center into a 24-hour-a-day "urban oasis," while others mulled an appeal to a court ruling that essentially permits the homeless to continue living in cardboard boxes on its streets. The cornerstones of the first phase of architect Frank O. Gehry's futuristic plans for the Civic Center are two L-shaped, glass towers that would rise directly across from the recently opened Walt Disney Concert Hall. One of the buildings would have 50 stories and the other would have 24. The 50-story tower, at the corner of Grand Avenue and 2nd Street, would include a 275-room boutique hotel, 250 upscale condos, restaurants and street-level retailers. The 24-story tower, at First and Olive Avenue, would combine retailers with 150 lofts and condominiums as well as 100 affordable apartments. The two structures re...