LOS ANGELES | Wilshire Grand Development | 1,100 FT | 73 FLOORS | U/C - Page 16

Steve2726 · #**301** Posted **Dec 22, 2011, 3:38 PM**

Quote:

Originally Posted by colemonkee

And the City of Los Angeles will have a tough time luring new business that size into town with their current business tax codes.

Unfortunately this sums up the plight of downtown's (and the City of LA in general vs. surrounding areas) corporate exodus. The majority of businesses remaining are law firms and banks that need to based close to the courts or city hall, most everyone else has fled to friendlier regions elsewhere.

It's not just high taxes either. Crumbling infrastructure, oppressive unions, indecipherable regulations, and the perceived anti-business attitude will continue to scare new companies away. Until the LA city council makes dramatic changes, there will not be any large HQ's relocating there like they did back in downtown's corporate heyday.

Zapatan · #**302** Posted **Dec 22, 2011, 6:26 PM**

Quote:

Originally Posted by colemonkee

So far only the shorter hotel tower is slated for construction. The taller office tower is still awaiting an anchor tenant, so it is far from a done deal.

I thought it was likely to find a tenant? Korean Air.

Is that not really probable?

colemonkee · #**303** Posted **Dec 22, 2011, 11:39 PM**

^ Korean Air and Thomas Properties are co-developers on this, not prospective tenants, unfortunately. Korean Air has owned the land (and hotel) since 1989, and had a good deal of cash from good investements in 2009 when they announced the project. But they likely still need to find a tenant to get the financing before this goes skyward.

Zapatan · #**304** Posted **Dec 24, 2011, 9:48 AM**

^Oh I thought is was likely that both towers would be built. rats.

Stained · #**305** Posted **Dec 25, 2011, 4:55 AM**

That is unfortunate news. Maybe we should explain to the city that having more businesses paying less in taxes amounts to the same as a few businesses paying a lot?

Zapatan · #**306** Posted **Dec 26, 2011, 4:58 PM**

^ I don't know if that means it definitely won't be built, it just isn't certain.

JDRCRASH · #**307** Posted **Dec 26, 2011, 9:15 PM**

Quote:

Originally Posted by Zapatan

^ I don't know if that means it definitely won't be built, it just isn't certain.

It absolutely DOES NOT mean that.

Chef Boyardee · #**308** Posted **Dec 30, 2011, 10:33 AM**

I don't know if LA Times is on top of this kind of story, but they say both towers are to be completed in 2015.

http://www.latimes.com/business/la-fi-1223-wilshire-grand-closes-pictures,0,6190721.photogallery

NYguy · #**309** Posted **Dec 30, 2011, 3:04 PM**

Quote:

Originally Posted by Chef Boyardee

http://www.latimes.com/business/la-fi-1223-wilshire-grand-closes-pictures,0,6190721.photogallery

That would be great if that's the case.

Quote:

The 16-story hotel, built in 1952 with a $25-million price tag, will be replaced by a 45-story hotel with 540 rooms and several floors of condominiums. Next door, the complex will feature a 65-story office tower with about 1.1 million square feet of office space, with shops and a public plaza on the ground floor.

Korean Airlines, a subsidiary of the South Korean conglomerate Hanjin Group, owns the 896-room hotel and plans to complete the project by 2015 with its development partner, Thomas Properties Group.

JDRCRASH · #**310** Posted **Dec 31, 2011, 4:20 AM**

When it comes to the 45-story tower, I can believe 2015.

As for the supertall... well, we'll see.

Lovetowers · #**311** Posted **Jan 5, 2012, 7:45 PM**

ok we have a date of 2015 when this whole project is going to supposedly be completed but when is going to start. To my understanding the existing Wilshire Grand Hotel is closed so are there any new pics or news updates on this thing ????? whats goin on ???????

colemonkee · #**312** Posted **Jan 5, 2012, 9:49 PM**

According to the Downtown News, demolition on the hotel is slated to begin in June, and continue into 2013, depending on the method of demolition. Given that it's in a pretty dense area, and abuts a very busy freeway, I'm guessing we're looking at a slow demolition. So don't expect construction to start until next year.

You can read the full article here.

Lovetowers · #**313** Posted **Jan 6, 2012, 3:28 AM**

Quote:

Originally Posted by colemonkee

According to the Downtown News, demolition on the hotel is slated to begin in June, and continue into 2013, depending on the method of demolition. Given that it's in a pretty dense area, and abuts a very busy freeway, I'm guessing we're looking at a slow demolition. So don't expect construction to start until next year.

You can read the full article here.

thanks maybe I'm just impatient on this one then lol

Stained · #**314** Posted **Jan 6, 2012, 4:27 AM**

With demolition that far away and with no major tenant for the supertall, I am confused as to how BOTH can be slated for a 2015 completion date. For the smaller one maybe, but not for the supertall. Anyway, I am glad to see more development in downtown LA. Talk about a big city with a downtown that is, for a lack of a better term, "lacking" in high-rises. Having only seen LA once and being far from visiting again, I look forward to picture updates on these.

Lovetowers · #**315** Posted **Jan 6, 2012, 10:11 AM**

yea some more pics would be nice . . . and of course not of that actual site but new renders would be nice or somethin . . . its so dead here lol

JDRCRASH · #**316** Posted **Jan 6, 2012, 9:24 PM**

Plenty of renders throughout the thread if you're willing to look.

Lovetowers · #**317** Posted **Jan 6, 2012, 10:21 PM**

Quote:

Originally Posted by JDRCRASH

Plenty of renders throughout the thread if you're willing to look.

yea but they're the same ones over and over though yknow . . . just a lil excited about this project is all

THE BIG APPLE · #**318** Posted **Jan 6, 2012, 11:16 PM**

Wow finally California's second 1000 footer. I guess the race is now on between LA and SF just like NYC and Chicago went at it. LA's skyline always looked empty for being the second most populous in the country, so let's hope this clears some of the void.

Illithid Dude · #**319** Posted **Jan 7, 2012, 12:46 AM**

Quote:

Originally Posted by THE BIG APPLE

Wow finally California's second 1000 footer. I guess the race is now on between LA and SF just like NYC and Chicago went at it. LA's skyline always looked empty for being the second most populous in the country, so let's hope this clears some of the void.

Maybe downtown has an empty skyline, but the actual city has a skyline that stretches for about a dozen miles. Check out the ones along the Wilshire Corridor and Century City for some densely packed high-rise action.

Trojan · #**320** Posted **Jan 7, 2012, 4:12 AM**

It's nice to see the developers acknowledging Wilshire Grand's close access to mass transit and Metro's new lines.

Quote:

Just thirty minutes from the Los Angeles international airport, the Wilshire Grand is conveniently located in
the “heart of downtown Los Angeles” adjacent to the 7th and Metro hub for L.A.’s new subway and light
rail systems.