Innovative Financing For Downtown Hotel

Unable to find development interest in a hotel central to redevelopment efforts, redevelopment financing in downtown Los Angeles gets creative.

1 minute read

May 14, 2002, 2:00 PM PDT

By Edmelynne Villanueva

"Unable to persuade a developer to build a hotel considered vital to the success of the city convention center, Los Angeles officials proposed Monday that they create a nonprofit corporation to pay for the $280-million project... Private developers have been uninterested in the project because convention center hotels are expensive to build and offer amenities, such as large conference rooms, that don't provide a steady return on the investment."

Thanks to Edmelynne Villanueva

Read the full story: L.A. Officials Float Plan to Pay for Hotel Downtown

Tuesday, May 14, 2002 in The Los Angeles Times

Community / Economic Development California

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