We recently received this email from a tipster that originally was sent by the mayor's office. it seems all of the investment in adaptive reuse is starting to pay off, as market value for these projects begins to surpass new development projects such as LA Live and Grand Ave:
An initial, and low-ball, estimate of these projects indicates that Adaptive Reuse units in totality have a market value of over $6,000,000,000.
In comparison, and according to public records, the Staples Center, the Disney Concert Hall, the Cathedral, the Grand Avenue Project (in completion), the LA LIVE (in completion), and the NFL Team in Coliseum (if and when completed) would have a total value of $4,500,000,000.
Gehry, Moneo, the NFL = total fucking losers worth only a paltry $4.5 billion. Suckers.
Of course, it might be just a tad unfair to compare a handful of downtown projects to an entire city-wide incentive program that encourages adaptive reuse, but who are we to quibble with "official" data. After all, as Mark Twain once said, "there are lies, damn lies, and statistics."