Posts tagged with "City of Los Angeles":

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Wilshire Grand Tower tops out over Downtown Los Angeles

AC Martin is one step closer to completing L.A.’s newest and tallest tower. As workers and business executives in hardhats scribbled optimistic phrases like “we did it!” and “one year left to go” onto a massive wide flange beam, Wilshire Grand Tower, LA's soon-to-be tallest spire, topped out Tuesday afternoon at a gregarious ceremony hosted by Turner Construction and AC Martin, the tower’s chief contractor and architect, respectively, and Korean Air, developer of the project. Crew members cheered as cranes lifted the final beam into place, 892 feet up, completing the structure’s core and leaving only the tower’s top floors and spire to be constructed. The ceremony, attended by many of the 800 workers rapidly assembling the west coast’s newest homage to high strength concrete and glass, included a barbecue lunch prepared on site that filled the surrounding business district with the wafting scent of mesquite. The event was celebratory in nature, with team members, executives, and elected officials posing for photos as journalists surveyed the cavernous rib cage of the building’s future shopping plaza along Figueroa Street. According to Turner Construction’s website, when completed, Wilshire Grand will host 20 floors of Class A office (400,000 square feet) and a 42 story hotel consisting of 900 suites. The aforementioned 400,000 square feet of podium along Figueroa is set to include ballrooms, meeting halls, pedestrian-oriented retail, and a 1,250-spot parking garage. The structure is the first building to rise since L.A.’s City Council overturned a 40 year fire safety rule mandating flat-topped skyscrapers in the city. Wilshire Grand Tower, rising to 1,099 feet in height, will also the first to employ a concrete core instead of a prototypical steel frame. This novel (for Los Angeles) roof shape will contain a sky lobby, observatory, sky pool deck, and restaurants. The building, set to rank as the second tallest building west of the Mississippi River upon completion (taller than San Francisco’s Salesforce Tower, but shorter than Seattle’s 4/C Tower), is due to finish construction in early 2017.
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Los Angeles Receives $100M for Affordable Transit Oriented Development

The Local Initiatives Support Corporation (LISC), a national philanthropic organization that provides monetary support for the shoring up of distressed communities, has pledged $100 million in capital to lead an effort to develop 15 low-income neighborhoods in the City of Los Angeles. Under the city’s Measure R, plans for expansion of light rail and rapid bus lines within these communities are currently underway. The monetary initiative by LISC will continue development beyond transit, expanding affordable housing, schools, businesses, and community facilities, and will complete market assessments of each neighborhood to strategize locale-specific investment. In 2012, LISC completed initial market profiles of two Los Angeles neighborhoods, Boyle Heights and Leimert Park. The research results provide analysis of the current economic state of each community, block-by-block. This information can be used in plans for future investments, redevelopment initiatives, and to attract businesses. With their pledged effort, the private organization plans to evaluate 13 other low-income neighborhoods over the next 18 months: Central Vermont, Crenshaw North, El Sereno, Highland Park, Koreatown, Main & Vermont, East Hollywood, North Vermont, Pico Union, Pacoima, Van Nuys, Watts, and Westlake. Each of these areas is scheduled for construction of a local public transportation hub by the City of Los Angeles and in combination with new improvement projects by LISC, can increase their overall value. “Low-income communities can be good places to live, work, raise families and do business,” said LISC Los Angeles executive director Claudia Lima in a statement. “Our goal is to speak to the rich potential of the people, markets and physical assets in these targeted areas."