Friday, April 03, 2009

$1,000,000,000 plan unveiled

The aging Wilshire Grand hotel and adjoining offices in downtown Los Angeles would be demolished and replaced with a $1-billion hotel, office and retail complex under a plan by one of South Korea's largest business conglomerates. Above, the two high-rise towers are rendered in blue in this image. One tower is to be 60-stories high and the other will be 40-stories.

The proposal is unexpected at a time when builders are backing away from big projects, and when the market for office space and condominiums has softened considerably because of the recession.

The existing Wilshire Grand Hotel

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