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A planned 78-unit condo development on the corner of Wilshire and Barrington in West L.A. is on hold until June, according to Curbed LA. Apparently the partnership group is re-capitalizing. Uh-huh. No specifics on what's happening, but don't be surprised if a bunch of other projects are held up or even killed in the next few months because lenders are reluctant to make deals - or at least the kinds of deals that will work for developers. Consider the inventory of houses and condos that are just sitting there collecting dust and ask yourself how many bankers are hot to finance yet another L.A. luxury condo?
By the way, the Central City Association hosts a panel discussion on Jan. 24 about the downtown housing outlook for 2008. I have just one word for them: rental.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.