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Downtown Ritz High-Rise to be Unveiled Today
Maybe we're nervous nellies, but LAist would feel a little queasy about investing millions of dollars on a huge tall shiny skyscraper in downtown LA. Isn't it a good thing that we really don't have any landmark towers for the evil-doers to f with?
Well the LA Times reports today that there are quite a few companies who aren't at all nervous about building a 54-story, 2 million square foot neighbor for the Staples Center and Convention Center. Marriott, AEG, and KB Home are the major players, but the City is bankrolling half of the $750 million project through loans and subsidies.
Now if the City Council feels that it's prudent to invest $375 million for two hotels, what do they think that sort of money could do for, say, programs aiding the 6,000 homeless people who sleep on the streets of downtown?
Earlier this year the Washington Post revealed that more pets than children live in our downtown, and there are no public schools there.
In its zeal to turn downtown into a convention destination sprinkled with condos and lofts, a grander version of 3rd Street Promenade, we have heard very little in terms of what to do with the poor or the children.
Over the last 16 years only two high-rises over 10 stories tall were erected in downtown LA. As of the beginning of this year, according the to Post, the LA city Planning Department had 46 proposals for construction of tall buildings over the next four years. Surely there must be a few thousand jobs in there somewhere for these current downtown residents...or is that being an LA(ideal)ist?
One year ago, Congress voted to defund public media, eliminating a critical $1.7 million from our budget every year going forward. But they couldn’t silence us, and we’re not going anywhere. LAist is now 100% community funded and that means we’re taking our future into our own hands and turning to you to keep local reporting strong.
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You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
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