Quote:
Originally Posted by ThreeHundred
1100 Wilshire was never more than 10% leased when it was an office tower. It failed dramatically as an office tower. It was only until 2005 or so when it was converted into condos. What sense does it make to build a building and it go unused?
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1100 Wilshire was a building built in a bad area at a bad time. Eventually, though, it did find a use, and is now at sold out, I believe, as condos. And think about developers starting construction on projects geared for todays economy, when two or three years down the line, the economy will be much much better. By the time Angelini is done, for example, three or four years from now, the original version of 8th and Grand will make financial sense. While this isn't a Los Angeles specific problem, it is a problem nontheless.
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