01-16-12

Page 1

LOS ANGELES

DOWNTOWN

NEWS Ross Dress for Less coming Downtown.

Express Your Love

LOV LINEE S

11-15

in our romantic Love Lines issue publishing February 6.

It’s FREE! See page 18!

W W W. D O W N T O W N N E W S . C O M

January 16, 2012

Volume 41, Number 3

INSIDE

Let’s Do Lunch

CRA’s Demise Puts Downtown Properties in Limbo Officials Seek to Understand Ruling; Cleantech Deal Is Dead

5

Will Zev run for mayor or not?

6

Get up close with the Lakers.

10

photo by Gary Leonard

The CRA must sell all of its properties that are not currently under contract. The hillside at Fourth and Olive streets, originally envisioned as a third phase of the California Plaza complex, and occasionally cleared by brush-eating goats, could be a candidate for sale. by Ryan VaillancouRt staff wRiteR

Museum shows you may have missed.

17

T

he California Supreme Court’s Dec. 30 decision to uphold legislation eliminating redevelopment agencies has placed a web of uncertainty over several Downtown projects and sent local officials scrambling to make sense of the loss of the powerful civic economic engine. To meet the terms of the new law, the Los Angeles Community Redevelopment Agency must

sell all of its property that was not tied to contractual obligations as of January 2011. Other projects or CRA investments approved after June 29 — from streetscape and façade improvements to land acquisitions or private developments — are also on ice. “If we did not get a contract in place as of June 29, it’s not going ahead, period,” said CRA spokesman David Bloom. In Downtown, that means the sale of the proposed Cleantech Manufacturing Center site is

dead in the water. Touted as the anchor of the city’s imagined “Cleantech Corridor,” a cluster of sustainability-minded industry along the Los Angeles River, the CRA-owned property appears on its way back to the bank. The court decision nullifies the agency’s deal reached in November to sell the 20-acre site to developer Trammell Crow, which had agreed to build a $40 million facility for green tech compasee CRA, page 8

Major Arts District Project Finally Begins A look back at an old railroad.

18

Crews Start Prep Work for Long-Delayed $160 Million One Santa Fe by RichaRd Guzmán

19 CALENDAR LISTINGS 22 CLASSIFIEDS

city editoR

S

even years after it was first proposed, a massive project that will change the look of the eastern edge of the Arts District, and deliver more than 400 apartments, is finally underway. Officials last week announced that site preparation work has begun for the $160 million One Santa Fe. The

move was propelled by the securing of financing from Canyon-Johnson Urban Fund Investments. Canyon-Johnson, a partnership between Canyon Capital Realty Advisors and Earvin “Magic” Johnson’s Magic Johnson Enterprises, joins the development team consisting of Beverly Hillsbased The McGregor Company, see One Santa Fe, page 9

rendering courtesy of Michael Maltzan Architecture

Seven years after the project was first broached, work has begun on One Santa Fe, which will bring 438 apartments to the Arts District. It is slated to open in late 2014.

Grand Opening... FRIDAY, JANUARY 20, 2012 AT 3PM A comprehensive facility dedicated to the health care needs of women in their prime. Whole-woman care for the whole you. Under one roof—all in one place. World class care from specialists who specialize in you. GRAND_DWNTN_10.25x1.5.indd 1

It’s happening downtown. www.lacwh.org www.facebook.com/lacwh

(213) 742.6400 1/10/12 4:23 PM


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
01-16-12 by Los Angeles Downtown News - Issuu