Two notable large-scale projects in downtown L.A. have not broken ground on time, which many see as a sign of the end of downtown's real estate boom.
"A fickle economy, rising construction costs, and skittish buyers are just a few of the factors that have slowed the frenzied development in downtown Los Angeles to a crawl. But as two of the area's largest planned projects-Frank Gehry and the Related Companies' $3 billion Grand Avenue Project and the $1 billion Park Fifth condo towers-failed to break ground as expected during the last few months, and as several smaller projects went under, hushed conversations between architects, developers, and real estate agents persist in the shadows of half-finished skyscrapers: Is downtown's rally over?"
"'I have the feeling that this is not a good time to be building skyscrapers, in LA or anywhere,' said Peter Slatin of the real estate website TheSlatinReport.com (and AN contributor). 'It's risky to start building into a market that's starting to decline without knowing how long the decline will last.' According to the National Association of Realtors, U.S. condo sales were down by about 11 percent in 2007, while residential construction dropped by almost 17 percent. According to most projections the numbers aren't expected to improve this year."
FULL STORY: Downtown Downturn?
New Funding Resuscitates L.A.'s Grand Avenue Project
The highly anticipated mixed-use Grand Avenue project in downtown L.A. has just secured $100 million in funding. This new funding is expected to kickstart the project's construction, which has been delayed for months.
The Future of Central Business Districts
Urbanist Richard Florida assesses post-pandemic possibilities for neighborhoods that once relied on 9-to-5 workers.
Gehry's Latest Downtown L.A. Project Rises While Workers Stay Home
A high-profile project in the heart of the cultural and civic center of Downtown Los Angeles is rising quickly, and practically in secret, as the area's daytime population stays home during the pandemic.
Seattle Legalizes Co-Living
A new state law requires all Washington cities to allow co-living facilities in areas zoned for multifamily housing.
Central Florida’s SunRail Plans Major Expansion
The expanded train line will connect more destinations to the international airport and other important destinations.
Las Vegas Golf Course to Become Over 1,000 Units of Affordable Housing
The project is part of an initiative to build affordable housing on shuttered golf courses.
Cities and States Taking Action to Limit Rent-Setting AI
Federal prosecutors are charging a software company with using algorithms to artificially inflate rents.
BART to Raise Fares in January
The transit agency says it needs more state and federal support to meet its operating costs and avoid a growing budget gap.
Montreal Bike Share Breaks Ridership Record With 13 Million Rides
The Bixi system introduced a winter pilot project last year, leading to a rise in winter cycling.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Los Alamos County
City of Culver City
Skagit Transit
American Planning Association, Sustainable Communities Division
HUDs Office of Policy Development and Research
HUDs Office of Policy Development and Research
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners