Three projects' woes illustrate saga of Hollywood revival gone wrong.
Los Angeles Business Journal › November 29, 1993
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Three projects' woes illustrate saga of Hollywood revival gone wrong.
Recent default notices on projects deemed vital to Hollywood redevelopment are providing fresh evidence that efforts to realize a 1980s vision of a vibrant, revitalized community have failed.
A trio of redevelopment projects heralded by the L.A. Community Redevelopment Agency as the answer to Hollywood's woes -- the renovation of the El Capital theater, construction of an enclosed shopping mall called the Galaxy, and plans for a mixed-use development called Hollywest -- are falling victim to economic destruction. The El Capitan, despite having Walt Disney Co. as an anchoring tenant, is facing foreclosure. The Galaxy is in default on its bank loans. Hollywest's dev...See the full content of this document
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