Quote:
Originally Posted by ThreeHundred
You of all people should know that it takes YEARS for a building to go from the proposed to approved to actually under construction. I wouldn't be surprised of Cal Plaza 3 is still in the works.
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if you're referring to the new museum, then, yes, it would be quite an effort for it to be under actual construction as soon as originally mentioned by eli broad. But his proj & the proposed new courthouse bldg are different from most other types of new projs in the hood cuz they're not dependent on having to make a profit. but if you're talking about new devlpt in general, then I was thinking of another part of the process. I was going...
cuz the economic conditions will have to be much stronger to allow new housing, hotels, stores, office space to move forward. So a lack of enough demand or the right kind of demand will create the biggest delay over the next several yrs.
New projs require ppl willing to spend X number of $$ for a condo or apt, or for office space. New devlpt needs enough ppl willing to spend $$ on hotel rms or at stores or restaurants. There are some $$ out there that are supporting things like new restaurants & certain stores. But who knows when ppl will want to spend alot more for housing?
The added costs of having to make bldgs strong enough to withstand earthquakes are also making it even tougher to get some of these projs underway in LA.