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Signs of Downtown Boom's End
What once use to be a skyline of cranes, a sure sign of a neighborhood coming back, has now dwindled down to the last one. The construction crane at Concerto, a new condo development at 9th and Figueroa, was taken down yesterday leaving LA Live's long-necked machine as it completes glass work on the Ritz-Carlton tower. For blogdowntown's Eric Richardson, there's nothing wrong with this picture: "Of course, that's not exactly a bad thing. The cranes come down as construction projects complete, and their dwindling numbers simply mean that the projects started during the recent boom are nearing their opening dates." Now, with low interest rates and a cheaper market, it's time to fill those new homes.
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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.
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