Quote:
Originally Posted by jubguy3
Just curious, why did Korean Air pay for the building? Are they now doing property development or are they using it as corporate offices and then renting out the rest of the building?
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Korean Air owned the original hotel that was demolished and came up with the idea to redevelop it as a mixed use property with hotel/office/retail. Apparently, the building was built by the Hanjin Group (parent company of Korean Air), and especially the CEO of the Hanjin Group, who considers L.A. to be his second home. (Echoing what delts said about L.A. and Koreans.)
Apparently, it will also be home to Korean Air offices.
S. Korea tycoon has high hopes for L.A. hotel project
LATimes.com