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Downtown Development Stalled: Public Denied Shiny Glass Towers

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The LA Business Journal tackles the question that has been perplexing us all - will Park Fifth and the Grand Avenue project ever see the light of day? The answer is a resounding "maybe." Financing has tightened up and lenders aren't throwing cash around like they used to. Related Companies, developer of Grand Avenue, is still waiting for a construction loan, and Park Fifth is still working on putting together financing and entitlements. If everything comes together, the projects may grace our skyline after 2010. Still no word on the fate of the City House and Olympic, tee-hee.
· Downtown Downturn [LABJ]