The development of the LA Live entertainment district in downtown Los Angeles seems certain with approval of $400+ million hotel.
"The Community Redevelopment Agency (CRA) board last Thursday approved a $16 million loan to develop the 1,100-room Convention Center hotel. The green light is the final step before a City Council vote later this month.
...The $412 million hotel is expected to rise on the west side of the Staples Center parking lot as part of the $1 billion LA Live entertainment district being developed by Anschutz Entertainment Group (AEG). The hotel has long been cited as key to reviving the city's flagging convention industry, which has plummeted from more than 30 major bookings annually to 14 this year."
Thanks to Chris Steins
FULL STORY: CRA Approves Convention Center Hotel
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