At the subway stop at Wilshire Blvd. and Vermont, developer Jerry Snyder halted construction on his planned vertical retail mall, saying that the apartment market is comparatively "very strong."
Construction has been rare in Los Angeles over the past couple of years, so two new 25-30 story towers at this site are seen as a welcome change by many.
Roger Vincent reports from the L.A. Times:
"The Vermont apartments would add to the residential boomlet at Wilshire and Vermont. Across Wilshire, above a Red Line subway stop, is a seven-story apartment and retail complex with 449 units called Wilshire Vermont Station, completed in 2007.
Urban planners and city officials have encouraged dense development at intersections, such as Vermont and Wilshire, that are major hubs for rail and bus service."
FULL STORY: Jerry Snyder unveils new plans for Wilshire District site
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