LA Braces For $1 Billion Staples Center Development

Hoping to cash in on the lucrative convention trade, Los Angeles may finally have the one piece it lacks: a major downtown hotel. Under Philip Anschutz's new plan, six unused blocks between the business district and the Convention Center would be transformed into a 4-million-square-foot development anchored by a signature 55 story, 1,200 room hotel. Despite predictions of up to 20,000 new jobs, the city and Mayor Hahn are waiting for more information before offering a deal to the developer.

Thanks to Jeffrey Goodman