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$1 Billion Development Planned for Downtown near 7th & Fig

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Just days after Korean Air donated $160,000 to the Million Trees LA initiative, the company announced that they will be demolishing the company-owned Wilshire Grand Hotel and developing a $1 billion development that includes a new hotel, residential and offices. The plans for the complex at 7th and Grand are for a 60-story office building and 40-story hotel that will include 100 residences. "The Downtown office market hasn't seen any additions since the building boom of the 1980s," noted blogdowntown Editor Eric Richardson.