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A World Class City BUILDING CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT 1975-2010 CENTRAL BUSINESS DISTRICT 1975 CENTRAL In an effort to revitalize its BUSINESS deteriorating central city, Los Angeles’ City Council adopted the Central DISTRICT Business District (CBD) Redevelopment Plan in 1975. Redevelopment activities HISTORY initially focused on retaining and expanding key industries including IN THE EARLY 20TH CENTURY, LOS ANGELES wholesale produce, fl owers, jewelry, BEGAN TO EXPAND RAPIDLY WITH AN EXTENSIVE fi nancial and legal services. To INTER-URBAN ELECTRIC RAILWAY SYSTEM AND accomplish this, the Community A THRIVING CENTRAL BUSINESS DISTRICT AT Redevelopment Agency of the City of ITS HUB. BUT AS AUTOMOBILES BECAME AN Los Angeles (CRA/LA) secured federal AFFORDABLE OPTION DURING POST-WORLD grants, acquired property, provided WAR II PROSPERITY, SOUTHERN CALIFORNIA seed money for public improvements, BECAME SYNONYMOUS WITH FREEWAYS AND and enabled development of new SUBURBAN SPRAWL, WHILE DOWNTOWN offi ce towers. LOS ANGELES QUICKLY DEVOLVED INTO URBAN DECAY AND BLIGHT. 1975 CONDITIONS CONTINENTAL BUILDING These initial steps helped attract In addition to addressing the private investment, causing property deterioration that existed in 1975, values to increase and thus generating the CBD Work Program had to tax increment funds to implement continually evolve to deal with new the overall CBD Work Program. Key challenges that arose over time. For initiatives included the rehabilitation example, the City lost revenue due of Skid Row hotels and the expansion to Proposition 13 and there was of social services in Central City a dramatic reduction in State and East. Other projects included the Federal spending on urban problems, revitalization of the Broadway and including rising homelessness. The Spring Street historic districts, the city was also negatively affected by preservation and restoration of corporate downsizing in the defense, landmarks such as the Central Library manufacturing, banking, fi nance and oil and the Bradbury Building and the industries, the 1992 civil disturbances, creation of a residential urban village the 1994 Northridge earthquake and in South Park. In addition, the Work today’s economic downturn. Program included parks, public improvements and the expansion of public art and open spaces. CENTRALYOUNG APARTMENTS LIBRARY GRAND CENTRAL MARKET CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT The CBD Redevelopment Plan was adopted on the amount of tax increment revenues the on July 18, 1975, encompassing 1,549 acres project area could receive. in the heart of Downtown Los Angeles. Under powers granted by California’s The tax increment cap was reached in Community Redevelopment Law, CRA/LA November 2000. By then, more than 20 developed a work program to address the million square feet of offi ce, retail, industrial area’s pervasive conditions of blight and and institutional space had been developed, deterioration. These powers include tax primarily in the Financial District, Civic Center increment fi nancing and the issuance of tax and Convention Center areas. However, allocation bonds, the primary sources of signifi cant blight still existed in major portions funding for redevelopment activities. Tax of the CBD Project Area, notably South Park, allocation bonds provide upfront money to Historic Downtown, Central City East and fund redevelopment activities. The bond the industrial/wholesale markets located is repaid by the tax increment revenue east of Main Street and south of 7th Street. generated from the increased assessed value In 2002, the City Council amended the CBD of property within the project area because of Redevelopment Plan to remove the portions the redevelopment activities. that still had signifi cant blight and adopted the City Center and Central Industrial Legal challenges to the validity of the CBD Redevelopment Plans. These new plans Redevelopment Plan were fi led soon after incorporated those portions removed from its adoption, delaying implementation for the CBD Plan along with other areas in need two years. In 1977, a stipulated judgment of redevelopment. validated the plan but put a $750 million cap LOS ANGELES THEATRE CENTER LOS ANGELES CONVENTION CENTER CENTRAL LIBRARY EXPANSION ORIGINAL CBD REDEVELOPMENT PROJECT AREA BOUNDARY 110 RALPHS FRESH FARE STAPLES CENTER 1000 WILSHIRE SITE FINANCIAL DISTRICT In the 1970s, the area west of Hill Street between 5th and 8th Streets still lacked the growing economic vitality and development activity of the neighboring Bunker Hill 7TH+FIG SHOPPING CENTER Redevelopment Project. As businesses moved elsewhere, offi ce space and storefronts were often left vacant. In addition, several key buildings of architectural merit were demolished, with surface parking lots taking their place. The primary redevelopment tool in this area was the transfer of fl oor area rights (TFAR) through which density could be increased on specifi c parcels, enabling developers to build offi ce towers at a fl oor area to land ratio up to 13:1, rather than the standard 6:1. The project originally known as Citicorp Plaza, which included the 53-story 777 Tower, CITICORP PLAZA SITE 42-story Ernst & Young Tower and 7+Fig Shopping Center, used TFAR and CRA/LA fi nancial assistance for the parking structure that helped keep the Bullock’s and May Company stores downtown. CRA/LA also granted increased density for the 24-story Biltmore Place Tower by requiring the owner to restore the historic Biltmore Hotel. The 24-story Figueroa (originally Home Savings) Tower was granted increased density in ENGINE CO. NO. 28 exchange for integrating a Metro Station portal and other public benefi ts. Other TFAR projects included the 53-story Figueroa at Wilshire (originally Mitsui Fudosan) Tower, the 37-story TCW (originally Manulife) Tower, the 24-story 801 Figueroa Tower, the 23-story 888 International Tower, the 22-story 1000 Wilshire building, the 22-story Chase Plaza (now Sky Lofts) and the 16-story International Jewelry Center. Several buildings were converted to residential or hotel uses FIGUEROA TOWER (HOME SAVINGS) SITE under the 1999 Adaptive Reuse Ordinance, which resulted in 946 market-rate housing units and the 207-room Standard Hotel. CRA/LA also helped facilitate the renovation and reuse of historic Engine Company No. 28 for restaurant, special event and offi ce uses. 7+FIG SHOPPING CENTER BILTMORE HOTEL AND BILTMORE PLACE TOWER FIGUEROA AT WILSHIRE TOWER CITY ABOVE AT 7TH /FIG METRO ENTRANCE ERNST & YOUNG FIGUEROA TOWER TOWER LIBRARY SQUARE Completed in 1926, the Goodhue Building Library with minimum fi scal impact on the housing the Los Angeles Central Library had City’s general fund. In 1986, the Library already become outdated and overcrowded suffered two arson fi res, creating a new sense by the 1950s. Over the next 25 years, various of urgency and a willingness to embrace bold solutions were considered but ultimately solutions. In response, CRA/LA proposed an rejected. For example, demolition was innovative program with a variety of funding strongly opposed by preservationists, sources, including the sale of TFAR and a restoration alone would not resolve the lack of portion of the Library property, proceeds of space, and expansion seemed too expensive tax allocation bond issues secured by tax for the City to undertake. increment from the development of three new offi ce towers nearby, and historic tax credits. In 1982 the Los Angeles City Council asked CRA/LA to devise a program to fi nance the Library Square became one of the City’s restoration and expansion of the Central largest, most complex redevelopment CENTRAL LIBRARY ATRIUM LOS ANGELES CENTRAL LIBRARY & MAGUIRE GARDENS LOS ANGELES CENTRAL LIBRARY CENTRAL LIBRARY FIRE GAS COMPANY TOWER projects. CRA/LA invested $179 million in California. Other components of the Library the restoration and expansion of the Central Square project included the 28-story 550 Library, 80 percent of the project’s $225 million South Hope Street Tower, the Bunker Hill total cost. The expansion featured an 8-story Steps that link the Financial District with atrium, state-of-the-art library systems serving Bunker Hill (designed by internationally- all branch locations, and a substantial increase renowned landscape architect Lawrence in usable space. Subterranean parking on the Halprin), rehabilitation of historic One west side of the Library was capped by the Bunker Hill, and construction of a Los 1.5-acre Maguire Gardens. Angeles Department of Water and Power substation replacement facility. The Downtown Los Angeles skyline was dramatically changed by the 73-story U.S. Bank Tower and 52-story Gas Company Tower, currently the tallest and 6th tallest buildings in BUNKER HILL STEPS U.S. BANK TOWER & GAS COMPANY TOWER 550 SOUTH HOPE STREET U.S. BANK TOWER SITE U.S. BANK TOWER GAS COMPANY TOWER SITE RONALD REAGAN STATE OFFICE BLDG. SITE HISTORIC CORE In the 1970s, the Broadway commercial corridor had begun to experience the loss of department stores and other PERSHING SQUARE national retailers, the Spring Street fi nancial corridor was losing tenants to new offi ce towers in Bunker Hill and elsewhere, and the Main Street corridor was in decline from physical neglect and the expansion of Skid Row infl uences, including a proliferation of bars, X-rated theaters and poorly-maintained Single Room Occupancy (SRO) hotels. Building obsolescence, lack of parking and deteriorated public facilities contributed to the area’s blighted condition.