Bio • Email • Archive
 

Grand dispute

Well, this thing is certainly not off to a great start. The city-county board overseeing the $3-billion Grand Avenue project has turned down a request by developer Related Cos. for an eight-month delay in the project. It’s just the latest of several financing-related delays. Related now has until Aug. 15 to begin construction across from the Walt Disney Concert Hall (though it sounds like there's some wiggle room to move back the date). From the LAT:

The vote is the strongest sign yet that government officials are skittish about the prospects for the massive development in downtown L.A., and that they hope to keep a tight rein on the developer they handpicked for the project almost four years ago. One county supervisor, Mike Antonovich, is even suggesting that the sprawling Frank Gehry-designed project should be scaled back because of real estate market conditions. "Given the stark economic climate," said Paul Novak, a planning deputy for Antonovich, "our best approach may be less of a 'grand' vision than the plan previously approved by the county and the city."

More by Mark Lacter:
Barry Diller's many paychecks
Say hello to the marijuana vending machine - and it's made in California
Good tip for job candidates: Always ask questions
Former Calpers CEO charged with fraud*
The Walmart story that everyone is talking about
Recent stories on LA Observed:
Barry Diller's many paychecks
Say hello to the marijuana vending machine - and it's made in California
Good tip for job candidates: Always ask questions
Former Calpers CEO charged with fraud*
The Walmart story that everyone is talking about

New at LA Observed
Follow us on Twitter

On the Media Page
Go to Media
On the Politics Page
Go to Politics

LA Biz Observed
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner


Advertisement
LA Observed on Twitter and Facebook