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February 26, 2008
L.A.'s upscale downtown delayed
As the economy takes a toll on plans, observers focus their concern on two mega-projects: Grand Avenue and Park Fifth.
LA Times
By Cara Mia DiMassa
Frank Gehry's other urban mega-project, in Los Angeles, is being delayed:
More than a third of the approximately 110 residential projects proposed for downtown... have been delayed or put on hold amid the rocky real estate market.
Yet downtown boosters and urban planners are focusing most of their angst on two mega-projects: the Frank Gehry-designed Grand Avenue complex on Bunker Hill and Park Fifth, which would be the tallest residential complex west of Chicago.
Both projects have pushed back their start dates in recent months as developers sought capital and construction loans in an increasingly difficult market and negotiated the various government approvals needed to begin construction.
Posted by lumi at February 26, 2008 6:49 PM