Downtown Los Angeles' $10 Billion Renaissance

Depsite having the most concentrated population of the homeless in the western US, $10 billion in investment is transforming gritty downtown Los Angeles into a "Manhattan of the West Coast."

"A development boom worth $10 billion is remaking the face of downtown Los Angeles, leading boosters to predict a renaissance in what used to be the desolate center of the capital of sprawl. From concert halls to condos, developers have built or are planning hundreds of projects that they say will end the sense of Los Angeles as a rudderless megalopolis with a rotten core.

...The mayor said that in the past 16 years only two high-rises over 10 stories were built in Los Angeles. Now the city Planning Department has 46 proposals for construction over the next four years.

...On the other side of downtown, meanwhile, work has already started on the $1.5 billion L.A. Live sports and entertainment mega-project by the Anschutz Entertainment Group. It will include a 55-story hotel on top of a mall housing a 12-screen movie house, several theaters, nightclubs and shops."

Full Story: Downtown Los Angeles Gets a $10 Billion Remake

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