Macy's Plaza to be sold, redone

macy's2.jpgThe fortress-like mall and office/hotel complex is being sold to the Ratkovich Co., which plans a major renovation, reports the Downtown News. The developer apparently has financing to buy the property, as well as handle the upgrades. It would be hard not to improve the place.

The Macy's Plaza structure, which opened in 1973, takes up the entire block bounded by Seventh, Eighth, Hope and Flower streets. It is known for towering walls of mostly windowless brick that close off the complex from pedestrians, as well as a dizzying parking complex with a spiraling ramp. Ratkovich Co.'s proposed renovation would aim to better integrate the property with street life, including the busy pedestrian corridor of Seventh Street. One design option under consideration involves removing the glass atrium that covers the retail portion, rendering that part of the mall an outdoor shopping area.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
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