Grand(iose) fantasy

December 28, 2019 | |Post a Comment

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREOregon Ducks football players get stuck on Disney ride during Rose Bowl eventAnd though more people are moving into the area, it still lacks the population to support the kind of retail and entertainment venues that the Grand Avenue project envisions. Nor is there a shred of evidence that anybody else wants to go downtown on evenings and weekends – not when they have so many other choices closer to home. Merchants aren’t interested, and the project’s supporters can’t find a hotel operator willing to fully take on the task of running the planned 275-room hotel that is the centerpiece. That’s why developers now say the hotel must be allowed to keep all of the room-tax revenues it generates. But common sense tells us that if a business plan can’t succeed without a subsidy, it’s not a very good business plan. City leaders must put an end to the subsidy talk immediately. After years of public support, downtown is ready to stand on its own. Great city centers grow out of great cities – not out of grandiose fantasies. It’s now time for the rest of L.A.’s neighborhoods to get some attention and respect that’s been lavished on downtown. For years, we have heard that billionaire Eli Broad’s vision for his Grand Avenue project – enthusiastically backed by city and county leaders – wouldn’t require public funding. Somehow, a grandiose development in the heart of a downtown that no one wants would pay for itself. But now Broad and friends have had to come clean, and admit that they want as much as $440 million in public subsidies. This, in a city that doesn’t have enough cops, can’t even manage to pave its streets, and sends all its trash into the San Fernando Valley while expecting homeowners to pay extra for the privilege. In a Los Angeles that neglects its neighborhoods, the movers and shakers want millions upon millions more for downtown. Never mind that downtown has already been well taken care of. Years of public subsidies have set the stage for a boom. Property values are soaring. Million-dollar condos and lofts are finding buyers. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img

Want to say something? Post a comment

Your email address will not be published. Required fields are marked *