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Originally Posted by The Illusive Man
You may or may not be right. What, in your opinion would be the best use of the land?
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The first thing that started alarm bells ringing for me is the downsizing of everything. Now, I'm a practical person and can sympathize with companies dealing with the economic realities but what businesses from outside LA don't realize is that in order to make a splash in LA you often have to be big, bold, and flashy. The Getty Center, the Grove, WDCH, and LA Live didn't get to be successful by blending in with their surroundings. Among upcoming projects the Wilshire Grand will be the tallest building on the West Coast when completed and boast decorative led lighting visible from miles away.
As for the project details, one of the things I don't like is how Related dropped the events facility from the original plans. Being across from the music center this would be a natural location to add yet another performance space. The similar Time Warner Center in NYC has the 1200 seat Jazz at Lincoln Center. One particular advantage of such an events space would be the additional dinner patrons it would provide for the proposed high end restaurants.
Similarly I think it's a mistake to downsize the hotel. If anything they should be thinking of adding more hotel rooms given the improved outlook for downtown's hotel industry. And again, more hotel rooms means more potential restaurant customers.
In fact, it may be best to focus on making the project the area's premiere dining destination as it now appears luxury retailers are beginning to form a critical mass down in South Park. Grand Ave could make a name for itself by bringing together many of the nation's top chefs under one roof, but would probably not be able to draw enough luxury retailers to form a critical mass given its reduced size.
They also plan a supermarket for the project but with Whole Foods now off the table it's not clear who could fill that spot. Upscale markets like Sprouts or Bristol Farms would probably not be as big a draw as Whole Foods would have been. Would a flagship Trader Joe's work in that location assuming that it isn't already elsewhere in downtown at that time? The problem with that is that TJs are typically much smaller than the average supermarket.
Those are my initial thoughts, but in essence Related needs to come up with a compelling project that will draw visitors from all over the region. Simply putting up a few restaurants and apartments isn't going to enable them to charge the rents they are expecting for such a high profile location.