Quote:
Originally Posted by JDRCRASH
Construction was expected to begin in late 2008, says Howard J. Samuels.
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I'm not sure if either the reporter or Samuels, or both, made the opposite mistake that some ppl are guilty of around the new yr, in which they accidentally write "2007" instead of "2008" on, for example a check or letter. But probably so, cuz if LA Central really was supposed to break ground at the end of this yr (2008), the sentence would have read:
construction IS expected to begin in late 2008.
And I believe you or some other SSPer asked about Tom gilmore's condo tower next to St Vibiana's. His business partner was quoted in an article a few months ago as saying that actual construction on the bldg would not begin til he---or they---could see how well existing new housing, esp around the OBD, sells in DT.
It's a safe bet right now to immediately assume that any new proj that's not under actual construction today won't be breaking ground til the problems in the investment/banking industry are settled, home buyers are having an easier time getting mortgages, & the existing supply of new condos/apts in DT, & throughout much of LA in general, is spoken for.
And even though OC is in one part of SoCa, & LA is in another, because of the domino effect, if OC's economy is starting to get beat up, then that may negatively impact LA too. For example, if a homeowner in OC wants to sell his/her house & move to DTLA, but can't find a buyer for it, guess what happens to that person's plans to move to LA?