The Big Picture Game Plan for Downtown Los Angeles Development
How the city is going to try and buy its’ way to the head of the convention business line/Corner the convention market by any means necessary!
by Zuma Dogg
Zuma's Blog
I guess if you raise enough money, or promise to raise enough money (and can convince the politicians you have a shot at doing so) you can just about build anything in this city, at any cost. (And I mean socially and economically, not the final price tag to developers and un-willing residents who end up paying for it, one way, or the other. (See tax hikes, fees, and skyrocketing property owner costs to help pay for what is ahead in the CRA/LA “Billion Dollar Plus” development club. (I’m not even gonna consider anything going on in this town with less than a billion dollar starting price. And all these projected costs are starting prices, because not only are the pueblos expenses skyrocketing, so are construction costs. And with all the planning, financing and construction delays; by the time you actually get the steamrollers rolling, and the developers start piling the cement 50 stories high anywhere they can get away with it, zoning and EIR restrictions, or not (and you think traffic is bad now), the cost has already jumped by at least a couple hundred million dollars; and the developer usually ends up running to the city for some kind of financial bail-out, claiming the project cannot carry on, otherwise.
This means either tax breaks/subsidies, or flat out money out of the CRA or other fund, that would have gone to something else.
And when you review the business deals these developers cut with the city, you gotta watch for these “sunset clauses”. A typical “small print, sunset clause, bamboozle could include a promise for a certain amount of “affordable housing”. Then put in a sunset clause stating if CRA doesn’t come up with enough “increment money”, then they can cut back on the amount of affordable housing, accordingly.
And of course all the revenue streams the CRA plans on using to raise this money, are new and completely speculative based on things like “expected parking revenues after completion of phase one.” Well, what if those cars don’t start flying into those parking lots as quickly as they expect. And what if phase one gets delayed. Then the CRA can come back and claim, “Well, Gee…we didn’t raise the affordable housing money we promised the developer.” And then all the city gets are the million dollar plus units (and I mean plus) -- but not any of the affordable housing. YOU DON’T THINK THAT HAPPENS ALL THE TIME? JUST ASK JAN PERRY, MAYBE SHE CAN EXPLAIN IT TO YOU, SHE’S SO SMART AND LOOKING OUT FOR HER DISTRICT’S BEST INTEREST!
Plus, when it comes to giving developers CRA money to build affordable housing, remember, that money was already earmarked for affordable housing anyway. So, all we are doing is letting the billion dollar developers and their international financial backers profit on the building of the affordable housing, as well as the high-end, five star, luxury stuff!
Sorry, every other local developers in town, and to all their families…No business in town for you! MegaCorp, International (A conglomerate of billionaire developers, their corporate backers and international financial institutions can handle that element, too. (The rich get richer, and everyone else goes out of business and has to leave the state, or take up accommodations somewhere on the sidewalk.) Hey, if Home Depots can put all the local supply companies out of business, why not apply this concept to the entire development process, as well. (Man, I’m starting to think if you want any construction or supply business in this town, you gotta have your kids on council, or pay for the politicians election and buy ‘em into office, so they can pave the way (for you to pave), or something.
So now that we know a little about HOW what is about to get done, is about to get done – let’s review the “master plan” for downtown Los Angeles, Cahootsifornia:
My friend Al Ries (International/Fortune 500 consultant and co-author of “Marketing Warfare” and author of “Focus”) says a product (in this cast the city) must have a narrow, specialized focus that allows the consumer to associate you with a specific benefit. (Be known for something.) Starbucks pulled this off by focusing on “coffee”. Domino’s with “delivery”. (They actually created the whole Domino’s concept from the bottom up. In other words, “OK, we’re gonna be the guys who deliver it in 30 minutes, or less. And built the facilities and zoned the delivery areas accordingly.)
Applying this concept to municipalities, Vegas has gambling; Detroit/cars; Texas/oil; Ft. Lauderdale/Spring Break, whatever…
So what is LA known for? (Besides being the open-armed embracer for all who wanna be a part of this fun)…Entertainment.
But, I guess the mere production isn’t good enough anymore. (Cause the city waived all the tax revenues to prevent runaway productions. And, Hollywood can show a loss on “Star Wars”, “Spiderman” or “Pirates” through creative accounting, if they want to. Poor fellas. They can just barely scrape by.)
So instead of gambling, or auto manufacturing, we are focusing on buying our way to the top of the convention city business, focusing on providing “world-class”, “state of the art”, “nice as f*ck” theater and broadcast facilities, so the whole world can fly here for their music award shows, and House of Blues cable broadcasts, and movie screenings and premiers with all the techno-structure to accommodate a TRUE international press corp and broadcasters to beam the even all over the world.
Of course, we are already getting that business anyway. So looks like the Hollywood area, currently attracting these gigs/business are about to become the CD in an iPod world. (Maybe we can house the homeless in all those empty unused venues that are about to become the LA Forum of the Hollywood ET/Access Hollywood world.)
And how do you blow away the rest of the world, and wipe everything else off the map? (At least in the California race for convention business that we consistently lose big to San Fran, San Diego and Orange County. Cause you ain’t never gonna beat Vegas till you get gambling inside that Ritz Carlton, JW Marriott, Hilton and Mandarin Hotels coming to Downtown LA. Skid Row isn’t as good a tourist attraction as Danny Gans, free alcohol and blackjack tables, apparently.)
So let’s take a look at one of the two billion dollar bookend projects the city has online to give LA that steroid injection it needs to become the international tourist and convention magnet it must become; or else we really will become that third world city the critics are warning us about. (And in this global war, the city is gonna have to focus all resources and funding toward this “Hail Mary” attempt if there is any hope of pulling it off.)
So let’s see what one, of these two mixed-use, luxury condo, five star hotel, specialty/boutique shop, fancy restaurant upscale billion dollar wife babysitter projects has in store, with the only the community’s best interest in mind:
[A MASSIVE, PRODIGIOUS, BULWARK OF AN ARTICLE, QUITE FITTING TO ADDRESS THE ALLEDGED SCALE OF THESE PROJECTS. AND SINCE LA TIMES IS HELL BENT ON BEING KNOWN AS THE “INTERNATIONAL NEWS SPECIALISTS”, here’s a little Sunday Times style reading, for yo azz! Except this is on the realest, dough.]
ZUMA DOGG LEGISLATIVE REVIEW: CRA/LA’s LA LIVE PROJECT
($2 Billion Starting Price)
THE FOLLOWING IS A COMPILATION OF INFORMATION ON THIS DOWNTOWN LOS ANGELES REVITAILIZATION FANTASY PROJECT (ONE OF MANY PROMISED “CORNERSTONES”) THAT WILL MAKE THE DOWNTOWN SKYLINE LOOK GOOD FOR PEOPLE FLYING IN FROM OVERSEAS, BUT WON’T DO MUCH FOR THE RESIDENTS OF LOS ANGELES EXCEPT SUCK THE SOUL AND MONEY OUT OF THE CITY
Vegas, looks good: But at what expense. The place is like a Hollywood set. Everything looks good from the front, as you are walking down the strip. But the machine that built that shiny new skyline (and keeps it ticking) seems to have robbed the soul out of the community (average paying casino jobs with impossible hours) and turned Veags into the meth capital of the universe.
You got the crack heads walking the streets of the communities behind the casinos, as the wealthy international jet set crowd buys up all the luxury skyscrapers that gentrified the community.
LA doesn’t have gambling, but they still need a shiny new skyline for all the international billionaires to devour, or else we’ll sink even further as we continue to sit fifth on the totem pole behind lesser cities; San Fran, San Diego, Orange County and Vegas when it comes to the convention booking business.
If you look at the online brochures for these mulit-billion dollar CRA development projects, they all look just fantastic. Looks like a lot of fun time for tourists on a Saturday night. Only problem, these projects will rob the soul out of the community by sucking every available city cent, out of every nook and cranny of the city funds – and will wipe away all the locally owned and operated businesses in the area. (Like a giant Home Depot of restaurants, shops and entertainment.) No more local flare. No more of that "diverse culture" that city's like LA brag about. Just pre-fabricated, planned mixed-use mega-center tourist attractions. (And we all know how tired tourist-based living gets.)
The little everyday amenities that are available, will fold, and you will be forced to not only commute for work, but for grocery shopping and everything else. (Except high end boutique specialty items, or a five star tea part at the Ritz Carlton.)
If the billionaire developers and their mega-international banking partners realize their dreams and fantasies, Downtown Los Angeles is about to try and “buy” its’ way into the international convention business, attempting to wipe everything else off the map. It hasn’t worked before. But this time, I think they will continue to throw enough money at the problem to at least get the stuff built. [At what expense to investors and the community remains to be seen. But it will look great, and be a fantastic addition to all the investor's corporate portfolio.]
Stuff like the Ritz-Carlton Condos, fancy restaurants, special event theaters, upscale shops. Everything a CEOs wife could want to keep her busy while her billionaire hubby gives a keynote at the convention. All the employees/attendees…well I guess they can sleep down the street with everyone else on Skid Row who can’t afford the five star convention accommodations.
Bottom line: The fix is in, and a few people, with the most money have spoken. They can say the number one priority is to fix the schools, reduce crime, manage traffic congestion, build more affordable housing, clean up skid row and create more high paying jobs…but that’s all bullsh*t.
The number one priority of the City of Los Angeles, as revealed by Villaraigosa and the despicable Jan Perry is to turn downtown LA into an upscale convention region, flanked by two competing luxury hotel, condo, restaurant, shopping, entertainment and theater projects; Grand Ave and LA Live, to create the Vegas like atmosphere to help pull in some business for that big white elephant convention center sitting near the Staples Center (that was supposed to solve the problem).
And remeber, Janice Hahn also wants to build another convention center near LAX. So I sure hope businesses start having A LOT MORE conventions, instead of less, as travel and convention costs continue to rise, and electronic communication make them easier to cut back on.) Because now all these billions and billions being invested into a Downtown convention area will have to compete with a more convenient and more economically feasible Janice Hahn LAX Convention Center.
And LA is banking on all these downtown tourists and conventions to have huge convention budgets. Because everything is five star, therefore you will be booking your employees at the Ritz, JW Marriott or Mandarin Hotel. (Or one of the other cheap ass hotels like Bonaventure or Westin.) Not building any affordable hotels, like they aren’t building any affordable housing, so they have just priced themselves out of the convention business.
Here’s more on LA LIVE, the answer to all your problems, with a starting price of over $2 billion. [ZD legislative review in brackets.]
LA LIVE: In September, 2005, the Mayor attended the ground breaking ceremony for Phase 1, scheduled for completion in 2007. [Oh good, I see we’re right on track! Look at the delays, and they haven’t even started.]
L.A. LIVE will also be the region's most in-demand and busiest hospitality location [Oh! I guess the facts and statistics are in!?!?], featuring 260,480 square feet of conference center and ballroom facilities [good we should put the homeless there, since it will sit empty most of the time]; eight world-class restaurants [GOOD, cause we’re turning into a third-world country], including the ESPN Zone [Oh, I almost thought it said EDUCation Zone], Flemings Prime Steakhouse [no transfats please, that would be bad for the City] and Wine Bar, Katsuya, The Farm of Beverly Hills, Yard House, Rosa Mexicana and dining concepts developed by Wolfgang Puck [actual diversity, if you can afford Wolfgang], Celestino Drago and others [things no one said they wanted or needed];
a 100,000-square-foot special events deck [for your shady special event fee waivers]; the famous Lucky Strike Lanes bowling center [I think bowling alleys downtown named after cigarettes are gonna get the mayor re-elected]; the celebrity-owned Conga Room [I was against it until I heard it was “celebrity owned”…I’m sure they’ll feed homeless children that won’t have affordable housing now]; and the one-of-a-kind Grammy Museum saluting the history of music and the genre's best known awards show. [And we all know there is nothing more needed in this city right now than a museum paying tribute to awards shows. Meanwhile, how about finishing the Children’s Museum, first?]
All of the aforementioned facilities will be centered around NOKIA Plaza LA Live, a 40,000-square-foot outdoor event space. [Maybe Zev can put all the skid row homeless there, instead of those mountain campgrounds the NIMBYS are fighting. HEY…I bet Kaiser could get away with illegal dumping there, cause it’s private space!]
Office of the Mayor
City of Los Angeles
ANTONIO R. VILLARAIGOSA
FOR IMMEDIATE RELEASE
January 12, 2006
MAYOR ANTONIO VILLARAIGOSA SUPPORTS PARTNERSHIP TO ENSURE CONSTRUCTION OF CONVENTION CENTER HEADQUARTERS HOTEL, LINCHPIN OF LA Live! Downtown Project [How do you insure these ensurences? Hopefully these promises are more credible than campaign promises.]
(Los Angeles) – Mayor Antonio Villaraigosa today joined Tim J. Leiweke, President and CEO of AEG as he announced AEG and KB Home will partner to finance the development of the Convention Center Headquarters Hotel, the linchpin LA Live! downtown project. The Mayor strongly supports the partnership which will accelerate building the Convention Center Headquarters Hotel.
“This partnership will ensure [at least promises, if not delivers] that LA Live and the hotel not only come to fruition [or at least fantasy] but will make Los Angeles the entertainment capital of the West Coast,” said Mayor Antonio Villaraigosa. [Is that all it takes? One hotel!]
“Furthermore, [don’t say ‘furthermore’ you haven’t really said anything yet] the Convention Center Headquarters Hotel is absolutely necessary if Los Angeles wants to have a convention center that is able to compete with other convention centers in the region.” [If the nation’s second biggest City isn’t even competitive with the region…save your time and money, now. This isn’t the answer. (No casinos!) Everyone visits and moves to LA because they like LA: So you want to completely change into being just like everywhere else. ZONE AWAY, A-HOLES!]
The AEG and KB Home partnership will ensure [at least hope] that the four-star hotel will become a reality for downtown Los Angeles. [But that reality may not include enough demand or occupancy.]
LA Live! A multi-use development, is critical to the revitalization of downtown Los Angeles [developers’ bank accounts] and fulfills the Mayor’s vision to make downtown one of the most recognized and attractive areas not only in the City but in the country as well. [Designed in his own image! And by the way, this doesn’t fulfill it. That happens when it is completed and operational.]
When [If] completed, it will serve to attract more than 10 million visitors [How? I don’t see] which in turn will infuse $9 billion into the economy and create more than 25,000 jobs. [That’ll be the day that Jesus walks into the CRA office to apply for some of the mandatory affordable housing that those sunset clauses have a way of setting on.]
The project covers six city blocks in the South Park neighborhood and will be the signature of the neighborhood. Restaurants, nightclubs, sports bars, [instead of the types of amenities people will still have to go to Silverlake or Pasedena to get] high density housing, [yeah, The Ritz Carlton Condo; that’s what they are calling “housing’] a 7,100 seat state-of-the art theater, radio and television broadcast facilities [glad we are building those. Maybe they can build some practical housing and needed community amenities]; offices and the Convention Headquarters Hotel are all components of this new entertainment district. [And “entertaining” is the big crisis the city is facing! I heard Bratton say just the other day, “We can’t entertain our way out of this.” I tend to disagree. And I happen to know from inside sources, entertaining are also big issues at LAUSD and all the social services. And the middle class being pushed out of town in the other parts of town...they demand more entertaining, too!]
The hotel [Ritz Carlton and Five Star Marriott, nothing most tourists or business conventions will be able to afford] will have 1,100 rooms as well as meeting, ballroom and amenity space of approximately 185,000 square feet. [To go along with all the convention space, already not being used, because it's too expensive to get downtown from the airport -- and too much traffic -- and, well...skid-you-know-what' in addition to the new convention center Janice Hahn wants to build near the airport. I hope people that go to conventions start having a lot of babies!]
Mayor Villaraigosa broke ground on LA Live! on September 15, 2005
The Convention Center Headquarters Hotel will feature spectacular rooms that will provide views to the Westside and downtown skyline. [Overlooking all the problems these projects not only won’t solve, but add to.]
2. AEG/LA Live Specific Plan Amendments (City Planning Commission)
LA Live
AEG is developing a downtown Los Angeles sports and entertainment destination, a 4-million square foot development adjoining The STAPLES Center and The Los Angeles Convention Center. [And you are telling us, instead of trying to keep it secret? Remember what happened last time you used the words, "AEG" and "STAPLES Center" regarding development? The Valley still haven't cooled down from that. And this will remind them again!]
The multi-faceted entertainment destination will feature an exciting mix of entertainment venues, restaurants, retail commercial and residential spaces, television and radio broadcast studios and concert spaces. [Can families who parents have to work downtown, but can't find housing within eighty miles crash in the radio studios when they aren't being used? Or maybe Clear Channel can build some affordable housing in the area?]
Highlights of the district will include a 40,000-square foot outdoor plaza, a ESPN broadcast and restaurant facility, Regal Theatres and Club NOKIA at L.A. Live. [And not ONE thing of public benefit.]
NOKIA Theatre at L.A. Live
NOKIA Theatre at L.A. Live will be a premier mid-sized music/theatre venue featuring state-of-the-art acoustics and seating for 7,000. [Sounds perfect for a James Taylor perfomance at a David Geffen benefit. Or some other wine and cheese event.]
NOKIA Theatre at L.A. Live will look to host the Latin GRAMMY® Awards and ESPY Awards, as well as numerous other productions from VH1, MTV, and BET. [In that case, they are only taking business from other nearby venues? So how does that help revitalize? Sounds like it will only cannibalize? Hey, Garcetti...make them cut you in as Council President, since it will be tanking your own districts' investment.]
It is also available for corporate shareholder meetings, product launches, and seminars. [Good the shareholders can discuss how the project they are having the meeting in is weakening the local economy and their revenues will be going down, unless they are targeting the poor, or rich international tourists.]
Club NOKIA at L.A. Live
In an effort to bring the best in live music and entertainment to Los Angeles, NOKIA and AEG are joining forces to create Los Angeles' most renowned club for live music and cultural events. [Why is the city making this much of an effort to entertain? Why not this much effort to educate?]
The stand-alone club, which will accommodate up to 2,400 patrons, will feature up and coming music acts, bands, and cultural shows.
The club may also be used to host private parties and corporate events.
[Sounds like this whole project is the “home depot” of regional entertainment. It’ll put everyone else out of business, then you’ll only have one big, sanitized “Promonade/Citywalk-style” tourist infused entertainment scene. And we all know that gets tired after about one month.]
NOKIA Plaza (Welcome to Nokiatown, CA)
Situated in the heart of the nation's entertainment capital, NOKIA Plaza provides a 40,000-square foot open-air plaza that will serve as the central meeting place for Los Angeles' Sports and Entertainment District. [And there’s no more important goal the City should be focused on, toward the goal of uplifting the community, and society at large as Sports and Entertainment. I think the City should be doing MORE in this area, instead of leaving it to the private sector/No CRA involvement.]
The Plaza will serve as one of the district's key anchors, providing a broadcast venue featuring giant LED screens as well as a red carpet site for special events. [IF THE CITY OF LOS ANGELES WERE A RESTAURANT, IT WOULD SERVE NOTHING BUT DESSERT!]
The NOKIA Theatre venues are part of the "NOKIA Unwired" marketing platform, which brings live music to fans in both the NOKIA Theater venues and on TV through "NOKIA Presents Hard Rock Live" on MTV. [How about something that brings education to students of LAUSD, not the crap they play on MTV! And F*CK NOKIA! I'm already sick to my stomach from seeing the word, "Nokia". Why don't you just put up a big billboard at LAX: "Welcome to Latham/AEG/Broad's Las Nokia-Disney/Universal, California!"]
Hotel and Condominiums
A 54-story, 1000-room convention "headquarters" hotel that will combine the JW Marriott and Ritz Carlton brands and 216 luxury condominiums - The Residences at The Ritz Carlton [How about building something people planning conventions can afford. I thought you wanted convention business? Five star hotels are for rich individuals. Maybe the CEOs will stay there. How about everyone else? Gotta build those, too, renaissance planners!]
The project, considered the largest development in Los Angeles' history, will be host to an exciting mix of venues and facilities. [At the same time all the middle-income folks are fleeing the area, to be replaced by new low income immigrants. Plus wealthy international immigrant land investors/speculators/developers.]
"On behalf of AEG and all of our partners, we are here today to break ground for the largest and most important development in the history of Downtown Los Angeles [if you say so, although Eli Broad would beg to differ, I’m sure] , LA Live," said Timothy J. Leiweke, President & CEO, AEG. "This project is real, this project is happening and this project is important. LA Live will give Los Angeles the ability to attract the best and most important events for our city." [Keep trying to convince yourself. Call Stuart Smalley, maybe he can read you an affirmation, himself.]
"Most importantly, our company's investment of nearly $1 billion coupled with an additional $3.5 billion commitment from the other private investors in LA Live and the surrounding downtown residential district has brought this city a fully privatized, fully financed and fully entitled development. A $4.2 billion development that does not require any public subsidy" Leiweke added. [Are you willing to put that in writing?]
Gladstone's 4 Fish, Junior's Deli Boys, Il Moro, Katsuya, and New Zealand Natural will provide a variety of established dining opportunities for LA Live visitors. Agreements with P.F. Chang's and French 75 are in the final stages of negotiations. [Besides the few times a year J Lo or Santana shows up at The Conga Room for all the VIPs to attend, anything your average city resident can take their family to without taking out another mortgage?]
Upper floors will house luxury suites to accommodate visiting sports teams, headline performers, and upscale guests. The hotel will also include up to 111 fully serviced luxury condominium units on the top floors offering 24-hour valet and concierge staff, food and room services, and other amenities. The 1.1 million sq. ft. hotel will be developed by Wolff-Apollo and designed by Gensler. [Looks like they’ve solved the NBA housing crisis! And now Elton John has a new place to rave about next time he’s in town! And I’m sure the rest of the voting public couldn’t be happier about that!]
The hotel is expected to significantly boost efforts to attract key conferences, exhibitions, conventions and corporate meetings to the convention center, strengthening the entire Los Angeles region's tourism and new business opportunities. [You expected everyone to move into all those lofts and businesses everyone is already moving out of, cause you haven’t put this much effort into the actual solutions, that don’t included luxury accommodations for Shaq when he flies into town to beat the Lakers.] City general funds will not be used to finance the hotel's development. [I HOPE NOT!!! Thanks for bragging about not using City money to build a Paris Hilton Hotel. City funds will not be used to build any affordable housing. Why don’t you mention that, too!]
At the groundbreaking, Leiweke announced several new, major l.a. live business partners: [Lots of business partners, not too many community and social improvement partners.]
ESPN will create a regional headquarters and sports entertainment venue in a unique 120,000 sq. ft. broadcast studio that will be the home for a number of live and taped programs. Included in this building will be the ESPN Zone - a multi-level restaurant, sports bar, and game area. An approximately 10,000 sq. ft. radio broadcast center is also planned for live radio in an adjacent building.
Regal Entertainment Group will develop a 90,000 sq. ft. cinema complex with 3,700 seats and featuring digital sound, stadium seating, and state-of-the-art projection systems. This flagship theater will serve as a new venue for movie premieres and special screenings. [So long Hollywood, moving the “premier and screenings” over here. Again, this won’t generate more business to the area. Just move it away from other areas. But I’m glad Leo Decaprio’s quality of life is about to improve. I can think of no better use of this prime real estate than for occasional “premiers and specials”. Can LAUSD use the space to teach kids in between those important special occasions?]
The GRAMMY® Museum will be housed in a 28,000 sq. ft. space designed for a permanent display of music genres and the science of recorded music as well as new interactive presentations recognizing past and president GRAMMY® winning artists. [How about an actual cultural arts center where kids actually learn how to play an instrument, not just look at statues of Beyonce’.]
"Sports and entertainment often converge in the diverse city of Los Angeles and establishing a major presence there is a very positive step in the long-term growth of our company," [but not the long-term growth of our kids or community] said George Bodenheimer, President, ESPN, Inc. and ABC Sports and Co-Chairman, Disney Media Networks. [I don’t know who has their hooks in deeper in this town, Disney or Universal? Mickey Mouse is actually the real mayor of LA] “Originating more programming and extending our brand with an ESPN Zone will create a stronger ESPN. [TOP, TOP, TIPPY TOP City priority and philanthropic benefit to the community!] Given the success of our past collaborations with AEG [and how the valley wanted to secede from LA] and the scope and promise of LA Live, we are eager to expand our L.A.-based operations." [And I’m glad the city can help facilitate your eagerness for expansion!]
"Diversity is the lifeblood of our vibrant city. The Conga Room is proud to partner with LA Live to showcase its unique brand of Latin American culture and music," said Jimmy Smits, co-owner, The Conga Room. [Yeah, a Latin American bar, real diverse. Not enough Latino culture. That’s the diversity missing in this town! And by being a specific culture, it’s not diverse, idiots! Call it what it is…Jimmy Smits is a famous actor: Let him open the bar. And to all the bar owners about to go out of business. Go into acting.]
"Hilton is pleased that we have been selected to manage this new hotel, particularly since it is located in our corporate back yard. [Glad we could make life easier for you!]
"Great cities attract great conventions and visitors. [Yeah, that’s why we’ve losing out] This Hilton hotel and LA Live will establish Downtown Los Angeles as a world class destination. [I thought the Omni/Bonaventure/Westin/Staples/Convention Center/Etc was supposed to do that? I say you do that through building a great “real” city.] Our team is absolutely committed to bringing this hotel to life and transforming Los Angeles into one of the most attractive destinations for conventions in the nation, [that’s the same kind of optimistic speech the Captain of the Titanic said about the Titanic just before it sank]" said Lew Wolff, Chairman and CEO, Wolff Urban Management, which is co-developing the Los Angeles Convention Center Headquarters Hotel.
• Numerous high-end fine dining, casual and ethnic restaurants as well as nightclubs, coffee shops, and bistros which will provide a rich mixture of high quality food and settings, providing visitors with a true "Taste of L.A.;" [Is that the taste of LA? I guess Canter’s, Pinks, Roscoes, Baja Fresh, Big Daddy’s Venice, all the city’s authentic Mexican restaurants…you’re not high-end and fine…you’re not true. You think a billionaire developers wife wants to eat at any place the rest of the world can afford?]
• 4,000 residential apartments and loft condominiums within three blocks of the sports and entertainment district are under construction or in the planning stages. [How close is it to grocery stores, repair shops, cleaners, schools, gyms, after school programs, social services, neighborhood council meetings?]
"Today Los Angeles is reaffirming its position as the entertainment capital of the world. LA Live will bring a vibrant sports and entertainment district to Downtown Los Angeles with exciting new places for families to dine and watch a movie, concert or game. [But nothing to do, and no where to feed your kids on a budget.] The entire City of Los Angeles will benefit from the thousands of jobs it will create and billions of dollars it will pump into our local economy," said Mayor Antonio Villaraigosa. ["Entire city will benefit?" OK Mayor, now I’m gonna sue your ass for fraudulent claims.]
"The LA Live sports and entertainment district is a boom for our local economy and the world-class facility will continue downtown's unprecedented revitalization efforts," said State Senator Gil Cedillo, who represents the area where the project will be developed. [So that’s how you know this is a bad deal.]
LA LIVE restaurants, theaters, landscaped courtyard, and media headquarters are certain to continue our efforts to reinvigorate our city center and make it an even more attractive destination for tourists and local families alike. Additionally, the project brings a wealth of quality job opportunities and profound economic development to the South Park neighborhood, surrounding areas, and the city as a whole," said Los Angeles City Councilwoman Jan Perry, who represents the 9th Council District where the project will be located. [Quality job opportunities, like construction worker or waiter once it is open. Notice how Jan's paragraph was the most pompous, grand, politi-speak in this whole massive post? Take your nose out of the air Jan, you have nothing to be arrogant about?]
"There is no more defining influence on the future of Downtown L.A. than the LA Llive development by AEG," said Mark Liberman, president & CEO of LA INC. The Convention and Visitors Bureau. "It presents LA with the promise of a wholly new and exciting visitor destination in the center of the second largest city in the country. Our industry is eager to work closely with AEG, its partners and the City to make the vision presented today a reality. There's no hiding the fact that what we've seen today can be a convention sales organization's dream come true." [What about the constituents’ of Los Angeles’ dreams come true? I guess one man’s dream, is the rest of our nightmare.]
MACFARLANE: While San Francisco-based MacFarlane invests money for the California Public Employees' Retirement System and other big clients. [In speculative, partially planned billion dollar city projects, that assumes enough risk to trigger all the warning flags to investors. Mainly, cost over-runs and inefficiency that will plague profitability. Either that, or they will have to come running to the city for a bail-out.]
"Downtown has been the redheaded stepchild with braces compared to the Westside," Wise said. [And I think now is the perfect time for the city to attempt to have Downtown swim upstream, against public will.]
"This is really a quantum leap forward in terms of credibility about downtown's revitalization," he added. [The “quantum leap” is the announcement with is only a leap “forward” in terms of credibility…it doesn’t restore it.]
Owners of downtown's Bonaventure Hotel tried to stop AEG's hotel plans in court, arguing that AEG will have an unfair competitive advantage because it will receive financial assistance from the city. The suit was later dropped. [Not because it isn’t unfair. But because they City gave in to Bonaventure “tick for tack” demands.]
The deal approved by the City Council calls for AEG to receive a rebate of at least $246 million in the hotel bed taxes it is expected to generate during the first 25 years of operation. In addition, the project is being given a $5-million grant from the city redevelopment agency and a rebate of $4 million in building permit fees.
Those concessions from the city were essential to getting the hotel started, Leiweke said. [I thought the big deal about this was it was completely funded by private money and how it is so successful that they don’t need any help?]
San Francisco-based MacFarlane, which invests in urban real estate developments, will provide as much as $400 million in financing, said Chief Executive Victor MacFarlane. The company also may invest in the $2-billion Grand Avenue retail, residential and office project set to begin construction north of Staples on Bunker Hill later this year. [And Antonio may run for re-election.]
"We'll probably invest in the two largest bookends downtown," he said. [And two riskiest, bookends, waiting to become a price over-run nightmare as construction costs soar, and delays allow prices to continue to skyrocket. And these increases are not factored in. So, all of these figures are just minimum starting prices, like an opening bid on ebay.]
Also helping fund construction of the hotel are the expected sales of the condominiums, which are priced at $1.5 million to $6 million. [Oh no, all those shabby, affordable $1.5 units will bring down the value of the $6 million dollar units. Can’t we raise the prices on the lower priced units to help keep property values up. I mean, really!]
Buyers have already made deposits on nearly half of the units, Leiweke said. [Where are these people coming from? Must be flying them in from somewhere else?]
"He has made a huge investment in this community in infrastructure, in entertainment and in sports, and those three drive our economy," said L.A. developer Steve Soboroff, a former adviser to ex-Mayor Richard Riordan, who worked with Anschutz on the Staples Center and other projects. [Sports and entertainment drive our economy? That’s a problem then, if you ask me? No wonder our community is in trouble if that’s what drives it. You forgot to throw in junk food and porno.]
Hotel tax rebates fuel anger:
The 54-story hotel will put the city's downtown convention center in the running for business that now goes elsewhere, said Jack Kyser, chief economist at the development corporation.
But the up-to-$290 million in hotel tax rebates that the Los Angeles City Council approved for the property last year drew the ire of many Angelenos.
http://72.14.253.104/search?q=cache:14W43-z9P_gJ:www.skyscrapercity.com/showthread.php%3Ft%3D156811+la+live+cra&hl=en&ct=clnk&cd=9&gl=us&client=firefox-a
RE: LA LIVE (from website link above)
Q: What market forces are driving such development activity downtown?
CM Jan Perry: There is a perception of enthusiasm for this market. [That’s quite a bit of of land dedication (including public) and money (including public and pension) going toward a mere “perception of enthusiasm”. (Sounds like a Larry David spin-off show.)]
Jan Perry: It should be a catalytic project for activating the surrounding streets [you mean congest them with gridlock traffic (see Century City), improving and enhancing the appeal of the convention center worldwide. It should increase our convention business enormously. It’s a critical project that we must get built. [I didn’t “Convention Business” showed up as any of the solutions in all those Ad Hoc Reports on crime, homelessness, traffic and other citywide problems we are trying to solve through prudent city planning. All of these billion dollar projects, built under the guise of “improving and enhancing” (instead of actually solving) …
Q: Jan, your council office has been incredibly successful in advancing the renaissance of downtown, but what have you not been as able to do re development?
CM Perry (YUK!): The biggest loss has been our inability to develop long-term and permanent housing for people who are homeless. For example, tying together the high level of development activity on the Figueroa corridor, using that tax increment within the boundaries of the area to create a lot of new construction. I’m not talking about transitional hosing. I’m talking about long-term housing to give people some stability in their lives. [Yeah, and I don’t see how any of this addresses any of that?]
Q: Two last questions. What is reasonable time-line for building out L.A. Live?
CM YUK: Well, I think you can use the first Staples Center project as a benchmark for how long it takes AEG to do construction. I believe that project was done in two years or less. [Yeah, Jan, but that was just one building, although a big one. This is like the Universal City Walk, plus housing and hotels? Why are you using apples for an oranges timeline? And that was then…skyrocketing cost will continue to cause these projects to become expensive bridges, burning behind you. Hope it doesn’t catch you, and shut down the projects. After all, look at the Los Angeles Children’s Museum. Couldn’t even get that done without City Council having to approve an emergency “loan”.]
Q: In the next mayoral campaign, what should the candidates be addressing?
YUK: Economic development—bringing projects online that will create a larger market for jobs at all levels and making sure we keep pace with this emerging market for housing. We also must look at the city’s infrastructure, what needs to be done and how to pay for it. [I agree, we should do that, no these (Grand/Live).]
City requirements dictate that AEG include a 20% affordable housing component in the project. To meet that, AEG has given $8 million to the YWCA [How will the other religions feel about giving the money to another religious organization. After all, it is a “Christian” Association] to develop a new campus for their Job Corps facilities and 200 two-bedroom apartments for very low-income program participants. The seven-story, $43 million structure will rise on the block bounded by 12th, Pico, Figueroa and Flower. An additional $2 million CRA grant helped acquire the land. [City money for private project, y’all!?!? I wanna sit on there whenever I want!]
RE: GRAND In April, 2006, the Mayor unveiled Phase 1 of this $2 billion project, which began construction in 2006 and ends in 2010.
Contact: ZumaDogg@gmail.com
Monday, June 11, 2007
Saturday, June 9, 2007
ZUMA DOGG MAKES FUN OF NEW DOWNTOWN FANTASY EXPERIMENT "LA LIVE"
contact: zumadogg@gmail.com Zuma's ZAP blog
ZUMA DOGG LEGISLATIVE REVIEW: CRA/LA’s LA LIVE PROJECT ($2 Billion Starting Price)
THE FOLLOWING IS A COMPILATION OF INFORMATION ON THIS DOWNTOWN LOS ANGELES REVITAILIZATION FANTASY PROJECT (ONE OF MANY PROMISED “CORNERSTONES”) THAT WILL MAKE THE DOWNTOWN SKYLINE LOOK GOOD FOR PEOPLE FLYING IN FROM OVERSEAS, BUT WON’T DO MUCH FOR THE RESIDENTS OF LOS ANGELES EXCEPT SUCK THE SOUL AND MONEY OUT OF THE CITY
This story has been expanded and moved to a new thread: CLICK HERE
Contact: ZumaDogg@gmail.com
Zuma's Blog
ZUMA DOGG LEGISLATIVE REVIEW: CRA/LA’s LA LIVE PROJECT ($2 Billion Starting Price)
THE FOLLOWING IS A COMPILATION OF INFORMATION ON THIS DOWNTOWN LOS ANGELES REVITAILIZATION FANTASY PROJECT (ONE OF MANY PROMISED “CORNERSTONES”) THAT WILL MAKE THE DOWNTOWN SKYLINE LOOK GOOD FOR PEOPLE FLYING IN FROM OVERSEAS, BUT WON’T DO MUCH FOR THE RESIDENTS OF LOS ANGELES EXCEPT SUCK THE SOUL AND MONEY OUT OF THE CITY
This story has been expanded and moved to a new thread: CLICK HERE
Contact: ZumaDogg@gmail.com
Zuma's Blog
Friday, June 8, 2007
CRA/AEG/MacFarlane Bring You "LA LIVE" $900 Million Condos and More -- Instead of What We Really Need To Revitalitze Downtown
WATCH THIS HILARIOUS JERK-OFF VIDEO OF THIS JERK-OFF PROJECT
[And watch this blog and for much more on this pompous, ego-driven, billion dollar white elephant waiting to happen.] See also: Neighborhood Council Blog
Just what we need...more five star hotels, botique shops, restaurants and entertainment along "Tumbleweed Connection". I know, I know...build it and they will come. FIRST, YOU BRAG IN LA WEEKLY THAT YOU PLAN ON BUILDING SO MUCH HIGH DENSITY HOUSING THAT TRAFFIC WILL COME TO A GRIDLOCK HAULT. THEN, YOU PLAN ON PEOPLE FLOCKING TO THE AREA TO GO TO PF CHANG'S? Riiiiiiiiight! I think the City should be sticking to basics; prove to the constituents that they can tie their shoelaces (accomplish something). How come the only people that do not see the problem with this are the ones making the money off the development?
Not to say that I am against more of these billion dollar downtown boondoggle projects by the CRA (Community Robbing A-holes)...but I hope an earthquake destroys the enitre project two-seconds the ribbon cutting ceremony! Except, then the CRA would just be happy -- because then -- they could build it all over again, and make the money all over again!
AND NOW, IF YOU LIKE TRAGIC FAIRYTALES, HERE'S ONE:
PRESS RELEASE [Propoganda Fantasy Spin]
L.A. LIVE Welcomes New Cornerstone of Emerging Vibrant Downtown District With Hotel and Residences Groundbreaking Today; Major Financial Investors in Hotel and District Also Announce [We need a moratorium on “new cornerstones” downtown.]
Friday June 1, 9:00 am ET
Governor Schwarzenegger, Mayor Villaraigosa and Business Leaders Join AEG to Break Ground on The Ritz-Carlton Residences at L.A. LIVE, The Ritz-Carlton and JW Marriott Hotel at L.A. LIVE [Of course, there were cameras in attendance.]
LOS ANGELES, June 1 /PRNewswire/ -- AEG, developers of L.A. LIVE, the world-class sports, entertainment and residential district being built in [the un-world class, skid row homeless infested] downtown Los Angeles, will break ground today on a 1,001-room hotel/224-room residence tower that will serve as the project's anchor [cause it’s gonna sink the city], at a ceremony led by California Governor Arnold Schwarzenegger and Los Angeles Mayor Antonio Villaraigosa. [Battle of the choppers.]
Also on hand to mark the start of construction of the 54-story, Class A high-rise [in an “unsafe” Class F zone] were [a couple do nothing] Los Angeles City Council; Speaker of the California State Assembly, agendized, niche, extremist activist Fabien Nunez (sic); Chairman & Chief Executive Officer, Marriott, International Inc., J. W. Marriott, Jr.; and President and CEO of AEG Timothy J. Leiweke. [Creating a joint powers authority called, “Gentracorp”] The hotel/condominium tower, which will total 2 million square feet on 2.5 acres of land [that will now not be used for practical amenities, affordable housing, health and social services, vocational training, housing for middle-income/average downtown worker], will contain The Ritz-Carlton Residences at L.A. LIVE, the JW Marriott and The Ritz-Carlton hotel.
Scheduled for completion in early 2010, [I wish it could get here sooner, cause the vacancy rate of luxury, five-star hotels and condos is becoming a public safety issue], it will be the final building to commence construction on the extremely active, 27-acre L.A. LIVE site, which is adjacent to STAPLES Center and the Los Angeles Convention Center. [I’ll say it’ll be the final building…the City will be bankrupt after all these massive billion dollar plus CRA boondoggles.]
AEG BRINGS ON DEVELOPMENT PARTNER
Leiweke also is expected to announce that the prominent real estate investment management firm MacFarlane Partners has agreed to become substantial investors in the $900 million hotel/condominium tower. [That’s nice…MacFarlane was almost entirely funded by a grant from LACER (pension money) to invest in minority urban areas that needed emergency redevelopment. Guess that didn’t pay off…so let’s hop on the Ritz-Carlton bandwagon. Hope they don’t blow all those people’s pension money in this complex, speculative, massive construction project, just as construction costs are skyrocketing, other five star hotels, luxury condos and boutique shopping will be competing with you and the water to provide all these downtown “cornerstones” is diminishing.]
The agreement also calls for MacFarlane Partners, an experienced investor in urban development and redevelopment projects that manages more than $15 billion in real estate assets, to provide investment oversight and consultation on the continued development and implementation of the project's overall vision and business plan. [Cut us in, y'all...we're on the list. So MacFarlane works with Grand Ave’s “Related Co.” AND THIS project. That’s about $5 billion investment (as a starting point)…MAN – hope they don’t invest that LACER money into this, too. They got a lot of eggs in one speculative, skid row infested, non-vibrant, and no one really cares that it is dead, or is rallying to revive area.]
"Having MacFarlane Partners on board not only brings tremendous experience and expertise to this project, but more importantly, the confidence that they provide for us is invaluable," said Leiweke. [WHY, you didn’t have confidence in yourself, or the project yourself? Oh, I get it…I guess if you wanna get one of these billion dollar projects put through in this town, you gotta cut MacFarlane in.] "Victor MacFarlane, Greg Vilkin and their team are the experts at what they do [being a part of every downtown project, like $95 million Forest City Loft developments] and this partnership will help to make a good project great." [They won’t try and ruin it for us, and try and get in our way.]
"Having invested in several properties in downtown Los Angeles over the past five years, we are a firm believer in downtown L.A. as a full-fledged, '18-hour city' with thriving residential, commercial and entertainment districts," said Victor B. MacFarlane, managing principal and chief executive officer of MacFarlane Partners. [Check the verbiage: He doesn’t say it IS a “full-fledged, ’18-hour city’…he says he is “ a firm believer” in it. Yeah, I’m a firm believer that the mayor will deliver on his campaign promise. That don’t mean squat. I’m a firm believer in ending homelessness and reforming the schools…not much progress there, either.] and "L.A. LIVE promises to be one of the most exciting projects in which we've invested and it will certainly play a central role in downtown being a place for people to live, work and play." [Oh, they ‘promise’! Will they refund the tax breaks and subsidies and give back the space to be used for something needed, practical affordable if they don’t deliver on that promise? Can I have that promise in writing? Again, CRA investments in speculative best wishes.]
FINANCIAL SERVICES LEADERS TO BECOME L.A. LIVE FOUNDING PARTNERS
During an early morning business leader's summit on the economic rejuvenation and investment outlook [if you need to rejuvenate, the outlook doesn’t look to good] for downtown Los Angeles, Leiweke also will announce that Wachovia and AEG have entered into an agreement for the nation's fourth-largest bank holding company to become a "Founding Partner" of the entire L.A. LIVE development. The partnership calls for Wachovia to become the exclusive financial services partner of L.A. LIVE and to receive prominent branding, proprietary events, consumer promotion and client entertainment within the entire, 27-acre development. [How about “The Wachovia Middle Class Out-of-State Relocation Center?]
"From the business, marketing and community perspective, Wachovia is truly the ideal organization we were hoping to bring in as a Founding Partner for L.A. LIVE," [Yeah, their business is marketing to the communuity] Leiweke added. "Since entering the marketplace less than six months ago, Wachovia has clearly invested in our state and community in the right ways on so many levels. [Yeah, 54 levels!] While their understanding of what's important and how this city does business [oh, you mean making sure you cut everyone in] has been remarkable, what makes them such an outstanding company is their intelligent expansion on a business level and their total commitment to making a difference with their community initiatives." [Total commitment to making a difference of their bottom line.]
THE RITZ-CARLTON RESIDENCES AT L.A. LIVE CREATES A NEW LIVING ENVIRONMENT
The Ritz-Carlton Residences at L.A. LIVE, a lavish collection of distinctive dwellings starting on the 27th floor, will top the 54-story L.A. LIVE tower that is set to dramatically re-shape the city's world-famous downtown skyline. Designed by world-renowned California architecture firm Gensler, the modern skyscraper is being developed as an iconic home and hotel above the bright lights of Los Angeles.
The Ritz-Carlton Residences at L.A. LIVE will offer world-class amenities and the legendary services of The Ritz-Carlton, the city's most breathtaking views from the Angeles Crest Mountains to the Pacific Ocean, and an unmatched, prestigious address at the center of the all-new L.A. LIVE. A total of 224 residences currently are available for reservation.
"The Ritz-Carlton Residences at L.A. LIVE are complemented with a world-class hotel property that answers a long-awaited need for Downtown L.A.'s millions of visitors," Leiweke said. "Nearly 50 percent of the residences have been reserved in just over a month, even before we've publicly marketed the project. The overwhelming interest proves the appetite for downtown living, especially for an exceptional residential retreat at the heart of L.A. LIVE."
THE RITZ-CARLTON AT L.A. LIVE AND JW MARRIOTT HOTEL AT L.A. LIVE
The Ritz-Carlton, a five-star luxury hotel property, will share the floors below The Ritz-Carlton Residences at L.A. LIVE with the four-star JW Marriott Hotel. [See Rodney King…We all CAN get along!] A spacious layout of ballrooms, meeting spaces, rooftop decks, swimming pools, resort facilities and 1,001 hotel rooms will be available at the central hotel property, which will provide a new lodging option for the more than 2.5 million convention attendees who visit downtown Los Angeles each year. [And you will force them to now hold those meetings and conventions in Vegas, with your overprice, luxury accommodations that will price LA out of the convention buisiness.]
"The Ritz-Carlton is proud to serve as a hotel ambassador for L.A. LIVE, not only for its future residents, but for all future visitors and guests of downtown L.A.," said J. W. Marriott, Jr., chairman and chief executive officer of Marriott International.[ALL the future residents, visitors and guest won’t be able to fill your hotel rooms, my man. Not unless you build the FLY CALIFORNIA magic bullet train to Aisa.] "The combination of an entertainment district of this scale with such a unique hotel and residential tower project is a proposition unmatched anywhere in the world [because no one had the nerve, or was stupid/evil enough], and we look forward to providing many with a new home -- and home away from home -- in the new downtown L.A." [Many, yes…Millions, no!]
Additionally, The Ritz-Carlton Residences at L.A. LIVE, The Ritz-Carlton and JW Marriott Hotel at L.A. LIVE will create more than 800 full- and part-time jobs in Los Angeles after completion. [So would any other practical and needed project of that size.]
"Each and every component of this project will equip downtown with the key facilities and resources to attract the best and most important events for our city," added Leiweke. [IT’S A BUNCH OF FIVE STAR BULLSH*T!!! HOW CAN YOU SIT THERE AND SAY “EACH AND EVERY COMPONENT…KEY FACILITIES?” Sorry…I call schools, affordable/mid-priced housing, homeless services, vocational training, everyday amenities, things people who didn’t step off their private jet need are KEY facilities…I’d say NOTHING in this project is key?] "Most importantly, our investment and that of those in the surrounding residential district combined have brought Los Angeles a fully privatized, fully financed and fully entitled development. We're proud to have this anchor hotel set in the city for one and all to see that L.A. LIVE is truly alive." [Ha ha, Eli! We don’t need all that City and County corporate welfare…we are TRULY alive. Who do you think he means “isn’t” truly? Hey, Eli? You gonna let MacFarlane’s partner say that to you?]
The sales and preview center for The Ritz-Carlton Residences at L.A. LIVE is scheduled to open this fall, along with the first phase of L.A. LIVE, which will include Nokia Theatre l.a. live, a 7,100-seat, live-performance theater that will host concerts, family & cultural shows, Broadway musicals, awards shows and special events; and Nokia Plaza, a 40,000-square-foot open-air plaza that will serve as the central meeting place of L.A. LIVE. The second phase, set to open in 2008, will include an array of restaurants, Club NOKIA l.a. live, a 2,400-seat standalone venue for music acts, bands and cultural shows; and ESPN's West Coast headquarters and broadcast facility. The Ritz-Carlton Residences at L.A. LIVE The Ritz-Carlton and JW Marriott Hotel at L.A. LIVE are set to open during phase three in 2010. [And I can think of no better way to put this prime space to use, than a second billion dollar luxury project because you HOPE people will care about downtown LA again, they way people are going to care about vinyl records again. And the days of “Leave it To Beaver” are returning again, soon, too!]
ABOUT L.A. LIVE
AEG is currently overseeing the development of L.A. LIVE, a four-million-square-foot, $2.5 billion downtown Los Angeles sports, residential & entertainment district adjacent to STAPLES Center and the Los Angeles Convention Center featuring NOKIA Theatre l.a. live, a 7,100-seat, live-performance theater; a 54-story, 1,001-room convention "headquarters" hotel (combining JW Marriott and Ritz Carlton brands and 224 luxury condominiums -- The Ritz-Carlton Residences at L.A. LIVE), Club NOKIA l.a. live, a 2,200 capacity, live-music venue; a 14-screen Regal Cineplex; "broadcast" facilities for ESPN along with entertainment, restaurant and office space. [And nothing for me and you.]
L.A. LIVE will also be the region's most in-demand and busiest hospitality location [Oh! I guess the facts and statistics are in!?!?], featuring 260,480 square feet of conference center and ballroom facilities [good we should put the homeless there, since it will sit empty most of the time]; eight world-class restaurants [GOOD, cause we’re turning into a third-world country], including the ESPN Zone [Oh, I almost thought it said EDUCation Zone], Flemings Prime Steakhouse [no transfats please, that would be bad for the City] and Wine Bar, Katsuya, The Farm of Beverly Hills, Yard House, Rosa Mexicana and dining concepts developed by Wolfgang Puck, Celestino Drago and others [things no one said they wanted or needed]; a 100,000-square-foot special events deck [for your shady special event fee waivers]; the famous Lucky Strike Lanes bowling center [good name it after cigarettes]; the celebrity-owned Conga Room [I was against it until I heard it was “celebrity owned”…I’m sure they’ll feed homeless children that won’t have affordable housing now]; and the one-of-a-kind Grammy Museum saluting the history of music and the genre's best known awards show. [And we all know there is nothing more needed in this city right now than a museum paying tribute to awards shows. Meanwhile, how about finishing the Children’s Museum, first?] All of the aforementioned facilities will be centered around NOKIA Plaza l.a. live, a 40,000-square-foot outdoor event space. [Maybe Zev can put them there, instead of those mountain campgrounds. HEY…I bet Kaiser could get away with illegal dumping there, cause it’s private space!
ABOUT MACFARLANE PARTNERS
MacFarlane Partners is one of the leading real estate investment management firms in the United States, with $15 billion in assets under management. Founded in 1987, the firm offers an array of investment programs for its institutional capital partners that are derived from its core competencies in property development, smart growth/urban revitalization, and single-family home building.
Considered a pioneer of the urban investment concept among institutional real estate managers, MacFarlane Partners invests in real estate development, redevelopment and repositioning projects in urban and high-density suburban areas nationwide. Among the properties in which it has invested are 1100 Wilshire and Metropolitan Lofts in Los Angeles; Bay Street Emeryville and The Uptown Apartments in the San Francisco Bay Area; Half Street in Washington, D.C.; and The Shops at Columbus Circle, the retail component of the Time Warner Center in New York City.
The firm also invests in single-family residential land and housing developments in markets nationwide. To date, its investments have financed the development of 123,000 single-family homes and residential lots in 18 states with more than 100 different homebuilders.
MacFarlane Partners is headquartered in San Francisco, with regional offices in Los Angeles; Washington, D.C.; and the greater New York metropolitan area. For additional information, please visit the firm's Web site at http://www.macfarlanepartners.com.
ABOUT MARRIOTT INTERNATIONAL
MARRIOTT INTERNATIONAL, INC. (NYSE: MAR - News) is a leading lodging company with nearly 2,800 lodging properties in the United States and 66 other countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, THE RITZ-CARLTON, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club International, Horizons, The RITZ-CARLTON Club and Grand Residences by Marriott brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. The company is headquartered in Washington, D.C., and has approximately 143,000 employees at 2005 year-end. In fiscal year 2005, Marriott International reported sales from continuing operations of $11.6 billion. For more information or reservations, please visit our web site at http://www.marriott.com.
ABOUT AEG
AEG is one of the leading sports and entertainment presenters in the world. AEG, a wholly owned subsidiary of The Anschutz Company, owns or controls a collection of companies including facilities such as STAPLES Center, The Home Depot Center, Toyota Park, Toyota Sports Center, Anaheim Convention Center Arena, El Rey Theatre, Colosseum at Caesars Palace, NOKIA Theatre at Grand Prairie and NOKIA Theatre Times Square; sports franchises including the Los Angeles Kings (NHL), Los Angeles Riptide (MLL), four Major League Soccer franchises, two hockey franchises operated in Europe, management of privately held shares of the Los Angeles Lakers (NBA) and Los Angeles Sparks (WNBA), the ING Bay to Breakers foot race and the Amgen Tour of California cycling road race; AEG LIVE, the organization's live-entertainment division, is a collection of companies dedicated to all aspects of live contemporary music performance, touring and a variety of programming and multi-media production. Additionally, the company has begun fully developing London's 28-acre Millennium Dome which includes a 23,000-seat arena, the O2 and over 650,000sf of leisure and entertainment use within the "Dome" and additional arenas; The O2 World on a 45-acre site in the heart of Berlin; Citizen's Business Bank Arena in Ontario, California; Sprint Center in Kansas City, Missouri; as well as Red Bull Park and a soccer stadium in Harrison, New Jersey. For more information, visit AEG today at http://www.aegworldwide.com.
Contact: zumadogg@gmail.com
zuma dogg blog
[And watch this blog and for much more on this pompous, ego-driven, billion dollar white elephant waiting to happen.] See also: Neighborhood Council Blog
Just what we need...more five star hotels, botique shops, restaurants and entertainment along "Tumbleweed Connection". I know, I know...build it and they will come. FIRST, YOU BRAG IN LA WEEKLY THAT YOU PLAN ON BUILDING SO MUCH HIGH DENSITY HOUSING THAT TRAFFIC WILL COME TO A GRIDLOCK HAULT. THEN, YOU PLAN ON PEOPLE FLOCKING TO THE AREA TO GO TO PF CHANG'S? Riiiiiiiiight! I think the City should be sticking to basics; prove to the constituents that they can tie their shoelaces (accomplish something). How come the only people that do not see the problem with this are the ones making the money off the development?
Not to say that I am against more of these billion dollar downtown boondoggle projects by the CRA (Community Robbing A-holes)...but I hope an earthquake destroys the enitre project two-seconds the ribbon cutting ceremony! Except, then the CRA would just be happy -- because then -- they could build it all over again, and make the money all over again!
AND NOW, IF YOU LIKE TRAGIC FAIRYTALES, HERE'S ONE:
PRESS RELEASE [Propoganda Fantasy Spin]
L.A. LIVE Welcomes New Cornerstone of Emerging Vibrant Downtown District With Hotel and Residences Groundbreaking Today; Major Financial Investors in Hotel and District Also Announce [We need a moratorium on “new cornerstones” downtown.]
Friday June 1, 9:00 am ET
Governor Schwarzenegger, Mayor Villaraigosa and Business Leaders Join AEG to Break Ground on The Ritz-Carlton Residences at L.A. LIVE, The Ritz-Carlton and JW Marriott Hotel at L.A. LIVE [Of course, there were cameras in attendance.]
LOS ANGELES, June 1 /PRNewswire/ -- AEG, developers of L.A. LIVE, the world-class sports, entertainment and residential district being built in [the un-world class, skid row homeless infested] downtown Los Angeles, will break ground today on a 1,001-room hotel/224-room residence tower that will serve as the project's anchor [cause it’s gonna sink the city], at a ceremony led by California Governor Arnold Schwarzenegger and Los Angeles Mayor Antonio Villaraigosa. [Battle of the choppers.]
Also on hand to mark the start of construction of the 54-story, Class A high-rise [in an “unsafe” Class F zone] were [a couple do nothing] Los Angeles City Council; Speaker of the California State Assembly, agendized, niche, extremist activist Fabien Nunez (sic); Chairman & Chief Executive Officer, Marriott, International Inc., J. W. Marriott, Jr.; and President and CEO of AEG Timothy J. Leiweke. [Creating a joint powers authority called, “Gentracorp”] The hotel/condominium tower, which will total 2 million square feet on 2.5 acres of land [that will now not be used for practical amenities, affordable housing, health and social services, vocational training, housing for middle-income/average downtown worker], will contain The Ritz-Carlton Residences at L.A. LIVE, the JW Marriott and The Ritz-Carlton hotel.
Scheduled for completion in early 2010, [I wish it could get here sooner, cause the vacancy rate of luxury, five-star hotels and condos is becoming a public safety issue], it will be the final building to commence construction on the extremely active, 27-acre L.A. LIVE site, which is adjacent to STAPLES Center and the Los Angeles Convention Center. [I’ll say it’ll be the final building…the City will be bankrupt after all these massive billion dollar plus CRA boondoggles.]
AEG BRINGS ON DEVELOPMENT PARTNER
Leiweke also is expected to announce that the prominent real estate investment management firm MacFarlane Partners has agreed to become substantial investors in the $900 million hotel/condominium tower. [That’s nice…MacFarlane was almost entirely funded by a grant from LACER (pension money) to invest in minority urban areas that needed emergency redevelopment. Guess that didn’t pay off…so let’s hop on the Ritz-Carlton bandwagon. Hope they don’t blow all those people’s pension money in this complex, speculative, massive construction project, just as construction costs are skyrocketing, other five star hotels, luxury condos and boutique shopping will be competing with you and the water to provide all these downtown “cornerstones” is diminishing.]
The agreement also calls for MacFarlane Partners, an experienced investor in urban development and redevelopment projects that manages more than $15 billion in real estate assets, to provide investment oversight and consultation on the continued development and implementation of the project's overall vision and business plan. [Cut us in, y'all...we're on the list. So MacFarlane works with Grand Ave’s “Related Co.” AND THIS project. That’s about $5 billion investment (as a starting point)…MAN – hope they don’t invest that LACER money into this, too. They got a lot of eggs in one speculative, skid row infested, non-vibrant, and no one really cares that it is dead, or is rallying to revive area.]
"Having MacFarlane Partners on board not only brings tremendous experience and expertise to this project, but more importantly, the confidence that they provide for us is invaluable," said Leiweke. [WHY, you didn’t have confidence in yourself, or the project yourself? Oh, I get it…I guess if you wanna get one of these billion dollar projects put through in this town, you gotta cut MacFarlane in.] "Victor MacFarlane, Greg Vilkin and their team are the experts at what they do [being a part of every downtown project, like $95 million Forest City Loft developments] and this partnership will help to make a good project great." [They won’t try and ruin it for us, and try and get in our way.]
"Having invested in several properties in downtown Los Angeles over the past five years, we are a firm believer in downtown L.A. as a full-fledged, '18-hour city' with thriving residential, commercial and entertainment districts," said Victor B. MacFarlane, managing principal and chief executive officer of MacFarlane Partners. [Check the verbiage: He doesn’t say it IS a “full-fledged, ’18-hour city’…he says he is “ a firm believer” in it. Yeah, I’m a firm believer that the mayor will deliver on his campaign promise. That don’t mean squat. I’m a firm believer in ending homelessness and reforming the schools…not much progress there, either.] and "L.A. LIVE promises to be one of the most exciting projects in which we've invested and it will certainly play a central role in downtown being a place for people to live, work and play." [Oh, they ‘promise’! Will they refund the tax breaks and subsidies and give back the space to be used for something needed, practical affordable if they don’t deliver on that promise? Can I have that promise in writing? Again, CRA investments in speculative best wishes.]
FINANCIAL SERVICES LEADERS TO BECOME L.A. LIVE FOUNDING PARTNERS
During an early morning business leader's summit on the economic rejuvenation and investment outlook [if you need to rejuvenate, the outlook doesn’t look to good] for downtown Los Angeles, Leiweke also will announce that Wachovia and AEG have entered into an agreement for the nation's fourth-largest bank holding company to become a "Founding Partner" of the entire L.A. LIVE development. The partnership calls for Wachovia to become the exclusive financial services partner of L.A. LIVE and to receive prominent branding, proprietary events, consumer promotion and client entertainment within the entire, 27-acre development. [How about “The Wachovia Middle Class Out-of-State Relocation Center?]
"From the business, marketing and community perspective, Wachovia is truly the ideal organization we were hoping to bring in as a Founding Partner for L.A. LIVE," [Yeah, their business is marketing to the communuity] Leiweke added. "Since entering the marketplace less than six months ago, Wachovia has clearly invested in our state and community in the right ways on so many levels. [Yeah, 54 levels!] While their understanding of what's important and how this city does business [oh, you mean making sure you cut everyone in] has been remarkable, what makes them such an outstanding company is their intelligent expansion on a business level and their total commitment to making a difference with their community initiatives." [Total commitment to making a difference of their bottom line.]
THE RITZ-CARLTON RESIDENCES AT L.A. LIVE CREATES A NEW LIVING ENVIRONMENT
The Ritz-Carlton Residences at L.A. LIVE, a lavish collection of distinctive dwellings starting on the 27th floor, will top the 54-story L.A. LIVE tower that is set to dramatically re-shape the city's world-famous downtown skyline. Designed by world-renowned California architecture firm Gensler, the modern skyscraper is being developed as an iconic home and hotel above the bright lights of Los Angeles.
The Ritz-Carlton Residences at L.A. LIVE will offer world-class amenities and the legendary services of The Ritz-Carlton, the city's most breathtaking views from the Angeles Crest Mountains to the Pacific Ocean, and an unmatched, prestigious address at the center of the all-new L.A. LIVE. A total of 224 residences currently are available for reservation.
"The Ritz-Carlton Residences at L.A. LIVE are complemented with a world-class hotel property that answers a long-awaited need for Downtown L.A.'s millions of visitors," Leiweke said. "Nearly 50 percent of the residences have been reserved in just over a month, even before we've publicly marketed the project. The overwhelming interest proves the appetite for downtown living, especially for an exceptional residential retreat at the heart of L.A. LIVE."
THE RITZ-CARLTON AT L.A. LIVE AND JW MARRIOTT HOTEL AT L.A. LIVE
The Ritz-Carlton, a five-star luxury hotel property, will share the floors below The Ritz-Carlton Residences at L.A. LIVE with the four-star JW Marriott Hotel. [See Rodney King…We all CAN get along!] A spacious layout of ballrooms, meeting spaces, rooftop decks, swimming pools, resort facilities and 1,001 hotel rooms will be available at the central hotel property, which will provide a new lodging option for the more than 2.5 million convention attendees who visit downtown Los Angeles each year. [And you will force them to now hold those meetings and conventions in Vegas, with your overprice, luxury accommodations that will price LA out of the convention buisiness.]
"The Ritz-Carlton is proud to serve as a hotel ambassador for L.A. LIVE, not only for its future residents, but for all future visitors and guests of downtown L.A.," said J. W. Marriott, Jr., chairman and chief executive officer of Marriott International.[ALL the future residents, visitors and guest won’t be able to fill your hotel rooms, my man. Not unless you build the FLY CALIFORNIA magic bullet train to Aisa.] "The combination of an entertainment district of this scale with such a unique hotel and residential tower project is a proposition unmatched anywhere in the world [because no one had the nerve, or was stupid/evil enough], and we look forward to providing many with a new home -- and home away from home -- in the new downtown L.A." [Many, yes…Millions, no!]
Additionally, The Ritz-Carlton Residences at L.A. LIVE, The Ritz-Carlton and JW Marriott Hotel at L.A. LIVE will create more than 800 full- and part-time jobs in Los Angeles after completion. [So would any other practical and needed project of that size.]
"Each and every component of this project will equip downtown with the key facilities and resources to attract the best and most important events for our city," added Leiweke. [IT’S A BUNCH OF FIVE STAR BULLSH*T!!! HOW CAN YOU SIT THERE AND SAY “EACH AND EVERY COMPONENT…KEY FACILITIES?” Sorry…I call schools, affordable/mid-priced housing, homeless services, vocational training, everyday amenities, things people who didn’t step off their private jet need are KEY facilities…I’d say NOTHING in this project is key?] "Most importantly, our investment and that of those in the surrounding residential district combined have brought Los Angeles a fully privatized, fully financed and fully entitled development. We're proud to have this anchor hotel set in the city for one and all to see that L.A. LIVE is truly alive." [Ha ha, Eli! We don’t need all that City and County corporate welfare…we are TRULY alive. Who do you think he means “isn’t” truly? Hey, Eli? You gonna let MacFarlane’s partner say that to you?]
The sales and preview center for The Ritz-Carlton Residences at L.A. LIVE is scheduled to open this fall, along with the first phase of L.A. LIVE, which will include Nokia Theatre l.a. live, a 7,100-seat, live-performance theater that will host concerts, family & cultural shows, Broadway musicals, awards shows and special events; and Nokia Plaza, a 40,000-square-foot open-air plaza that will serve as the central meeting place of L.A. LIVE. The second phase, set to open in 2008, will include an array of restaurants, Club NOKIA l.a. live, a 2,400-seat standalone venue for music acts, bands and cultural shows; and ESPN's West Coast headquarters and broadcast facility. The Ritz-Carlton Residences at L.A. LIVE The Ritz-Carlton and JW Marriott Hotel at L.A. LIVE are set to open during phase three in 2010. [And I can think of no better way to put this prime space to use, than a second billion dollar luxury project because you HOPE people will care about downtown LA again, they way people are going to care about vinyl records again. And the days of “Leave it To Beaver” are returning again, soon, too!]
ABOUT L.A. LIVE
AEG is currently overseeing the development of L.A. LIVE, a four-million-square-foot, $2.5 billion downtown Los Angeles sports, residential & entertainment district adjacent to STAPLES Center and the Los Angeles Convention Center featuring NOKIA Theatre l.a. live, a 7,100-seat, live-performance theater; a 54-story, 1,001-room convention "headquarters" hotel (combining JW Marriott and Ritz Carlton brands and 224 luxury condominiums -- The Ritz-Carlton Residences at L.A. LIVE), Club NOKIA l.a. live, a 2,200 capacity, live-music venue; a 14-screen Regal Cineplex; "broadcast" facilities for ESPN along with entertainment, restaurant and office space. [And nothing for me and you.]
L.A. LIVE will also be the region's most in-demand and busiest hospitality location [Oh! I guess the facts and statistics are in!?!?], featuring 260,480 square feet of conference center and ballroom facilities [good we should put the homeless there, since it will sit empty most of the time]; eight world-class restaurants [GOOD, cause we’re turning into a third-world country], including the ESPN Zone [Oh, I almost thought it said EDUCation Zone], Flemings Prime Steakhouse [no transfats please, that would be bad for the City] and Wine Bar, Katsuya, The Farm of Beverly Hills, Yard House, Rosa Mexicana and dining concepts developed by Wolfgang Puck, Celestino Drago and others [things no one said they wanted or needed]; a 100,000-square-foot special events deck [for your shady special event fee waivers]; the famous Lucky Strike Lanes bowling center [good name it after cigarettes]; the celebrity-owned Conga Room [I was against it until I heard it was “celebrity owned”…I’m sure they’ll feed homeless children that won’t have affordable housing now]; and the one-of-a-kind Grammy Museum saluting the history of music and the genre's best known awards show. [And we all know there is nothing more needed in this city right now than a museum paying tribute to awards shows. Meanwhile, how about finishing the Children’s Museum, first?] All of the aforementioned facilities will be centered around NOKIA Plaza l.a. live, a 40,000-square-foot outdoor event space. [Maybe Zev can put them there, instead of those mountain campgrounds. HEY…I bet Kaiser could get away with illegal dumping there, cause it’s private space!
ABOUT MACFARLANE PARTNERS
MacFarlane Partners is one of the leading real estate investment management firms in the United States, with $15 billion in assets under management. Founded in 1987, the firm offers an array of investment programs for its institutional capital partners that are derived from its core competencies in property development, smart growth/urban revitalization, and single-family home building.
Considered a pioneer of the urban investment concept among institutional real estate managers, MacFarlane Partners invests in real estate development, redevelopment and repositioning projects in urban and high-density suburban areas nationwide. Among the properties in which it has invested are 1100 Wilshire and Metropolitan Lofts in Los Angeles; Bay Street Emeryville and The Uptown Apartments in the San Francisco Bay Area; Half Street in Washington, D.C.; and The Shops at Columbus Circle, the retail component of the Time Warner Center in New York City.
The firm also invests in single-family residential land and housing developments in markets nationwide. To date, its investments have financed the development of 123,000 single-family homes and residential lots in 18 states with more than 100 different homebuilders.
MacFarlane Partners is headquartered in San Francisco, with regional offices in Los Angeles; Washington, D.C.; and the greater New York metropolitan area. For additional information, please visit the firm's Web site at http://www.macfarlanepartners.com.
ABOUT MARRIOTT INTERNATIONAL
MARRIOTT INTERNATIONAL, INC. (NYSE: MAR - News) is a leading lodging company with nearly 2,800 lodging properties in the United States and 66 other countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, THE RITZ-CARLTON, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club International, Horizons, The RITZ-CARLTON Club and Grand Residences by Marriott brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. The company is headquartered in Washington, D.C., and has approximately 143,000 employees at 2005 year-end. In fiscal year 2005, Marriott International reported sales from continuing operations of $11.6 billion. For more information or reservations, please visit our web site at http://www.marriott.com.
ABOUT AEG
AEG is one of the leading sports and entertainment presenters in the world. AEG, a wholly owned subsidiary of The Anschutz Company, owns or controls a collection of companies including facilities such as STAPLES Center, The Home Depot Center, Toyota Park, Toyota Sports Center, Anaheim Convention Center Arena, El Rey Theatre, Colosseum at Caesars Palace, NOKIA Theatre at Grand Prairie and NOKIA Theatre Times Square; sports franchises including the Los Angeles Kings (NHL), Los Angeles Riptide (MLL), four Major League Soccer franchises, two hockey franchises operated in Europe, management of privately held shares of the Los Angeles Lakers (NBA) and Los Angeles Sparks (WNBA), the ING Bay to Breakers foot race and the Amgen Tour of California cycling road race; AEG LIVE, the organization's live-entertainment division, is a collection of companies dedicated to all aspects of live contemporary music performance, touring and a variety of programming and multi-media production. Additionally, the company has begun fully developing London's 28-acre Millennium Dome which includes a 23,000-seat arena, the O2 and over 650,000sf of leisure and entertainment use within the "Dome" and additional arenas; The O2 World on a 45-acre site in the heart of Berlin; Citizen's Business Bank Arena in Ontario, California; Sprint Center in Kansas City, Missouri; as well as Red Bull Park and a soccer stadium in Harrison, New Jersey. For more information, visit AEG today at http://www.aegworldwide.com.
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