More delays, change in direction for Grand Avenue project
The Grand Avenue project, the Frank Gehry-designed shopping-and-residential complex slated for Bunker Hill, is looking at another delay. The much-hailed project has struggled to get financing, but the Downtown News reports that there is now talk of beginning with a residential tower:
Related Companies, the developer of the long delayed, $3 billion Grand Avenue mega project, is working on plans to fast track a scaled down residential tower originally tied to a later phase. The firm had been facing a Feb. 15 deadline to break ground on the Frank Gehry-designed first phase of the project. On Monday, the Grand Avenue Authority, a joint city county panel overseeing the project, is slated to consider a two-year extension that Related has been seeking since August.
STEAK DINNERS ALL AROUND: Some L.A. City Council members spend big on dining out -- and guess who pays? (La Opinion)
SCREEN WOES: More art-house theaters are facing possible closure, even in the heart of Hollywood. The L.A. Weekly reports that both the Sunset 5 in Los Angeles and the Music Hall in Beverly Hills could close down as interest in artsy movies fades. (via L.A. Observed).
BAD NEWS: Forget the gentrification and boutique storefronts. Joel Kotkin calls the last 10 years a "decade of decline" for L.A. From the Planning Report:
In virtually every critical sector, L.A. has declined more rapidly than many of its major competitors. In finance and business sectors, L.A. has done much worse than Houston, New York, Dallas, and many of the other regions it competes with. In manufacturing, we’ve done much worse than Texas and other newer competitors. We’re losing in warehousing, and we’re about to lose out a lot more with the completion of the Panama Canal. The only sector where we seem to be holding our own is entertainment; there we’re still relatively strong. For virtually everything else, we’re in trouble.
Image credit: Related Co.
-- Shelby Grad