Planners And Developers Have Grand Visions For Empty Land in L.A.
13 December 2007 - 1:00pm
Planning has begun for a 400-acre plot of land near downtown Los Angeles, and expectations are high.
"Then came the 2003 opening of the Metro Gold Line serving the area with two stops. That was followed by this year's dedication of the Cornfield as a State Historic Park, and the completion of the L.A. River Revitalization Plan that identified the estimated 400-acre sprawl as a ripe 'opportunity area.'"
"As surely as carnivores follow the scent of raw meat, the promise of increased public investment in the area so close to an appreciating Downtown real estate market has prompted interest by a swarm of developers."
Full Story:
Visions of 'Chinatown North'
Source:
Los Angeles Downtown News, December 13, 2007
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There is lots of theory, and lots of wonderful mathematics, and even lots of dealmaking. But the financial engineers are not real engineers who take responsibility for the bridges that fall down. They have no notion of a safety factor.
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