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Fact Sheet-CBD-S

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Fact Sheet-CBD-S CRA/LA THE COMMUNITY REDEVELOPMENT AGENCY OF LOS ANGELES, CALIFORNIA CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT The 1,549-acre Central Business District dimension in the redevelopment of Skid Redevelopment Project, adopted on Row strongly suggests that the first step July 18, 1975, was amended by City should be that of providing decent Council and the Agency Board of housing." Commissioners on May 15, 2002. The Redevelopment Project had several Financial Core geographic sub Areas (Central City Despite the growing success of the East, Financial Core, Historic Core and neighboring Bunker Hill Redevelopment South Park) with specific revitalization Project, the area south of Fifth Street issues and development objectives. Of showed little economic development. these sub-areas, only the Financial Businesses were leaving the area, key Core, Civic Center and portions of South buildings of architectural merit were Park remain in the CBD. The remaining being abandoned and demolished. sub-areas have been incorporated into the recently adopted City Center Historic Core Redevelopment Project Area. The Broadway retail district was experiencing the loss of national Conditions at Time of Adoption retailers, while the adjacent Spring Street area was experiencing the The Central Business District had departure of office tenants. Building shown signs of deterioration and blight obsolescence, lack of parking and since the 1950's and was first studied deteriorated public facilities contributed for possible redevelopment during the to the area's blighted condition. 1960's. Central City East South Park The Central City East area was At the time of Plan adoption, only three characterized by a significant number of major structures were less than fifty substandard Single Room Occupancy years old: Occidental (now (SRO) hotels intermixed with a variety of Transamerica) Tower, the Convention industrial and warehouse structures in Center and the Holiday Inn. More than varying states of occupancy and 90% of the remaining structures were condition. During the period that plan built prior to 1950; a majority of these adoption was pending, and in the years were unreinforced masonry structures preceding plan adoption, private built prior to 1930. Many historic owners, faced with increased City code structures had been demolished or were enforcement, had demolished several threatened with demolition to make thousand SRO units. In 1976, the room for commercial parking lots. All of Citizens Advisory Committee Report on the existing housing stock, occupied by the Central Business District low-income families and individuals, was Redevelopment Project stated that "the substandard and more than 90% highest priority shall be a seismically deficient. The lack of comprehensive solution to the Skid Row adequate facilities and programs for problem," and included as a priority juveniles contributed to street crime and recommendation that "the human gang activities. CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT Key Accomplishments funded and supported public Central City East improvement programs, including street The SRO Housing Corporation widenings, new street lighting and (SROHC), created by the Agency in landscaping throughout the area. 1983 to implement Agency housing goals in the area, has purchased twenty Financial Core hotels containing over 1,700 SRO units and maintains two Agency developed The private sector has developed over parks which serve the community. 10 million square feet of office and retail Other non-profits such as Skid Row space in the Financial Core, which Housing Trust and Catholic Charities represents hundred of millions of dollars have rehabilitated additional hotels. in construction. In addition, 1,800 hotel Recently completed initiatives include rooms have been modernized and the new Downtown Drop-In Center, several historic buildings have been modeled after a successful facility in rehabilitated. San Diego, and a grass roots effort by residents and property owners, working Major commercial projects with active with the City Planning Department, to Owner Participation Agreements with abate nuisance properties such as liquor the Agency include Ernst and Young stores and the remaining, poorly (Citicorp) Plaza (Phase III), Metropolis, managed SRO hotels with a record of and the Halekulani Hotel planned for the prostitution and drug activities. northeast corner of Eighth and Figueroa Streets. In response to the significant homeless population in Central City East, the The Agency approved a Figueroa Agency assisted with the development Corridor Economic Development of emergency shelter facilities by Strategy, which addressed development providing funding for the operation and opportunities and improved linkages maintenance of beds in a variety of along Figueroa Street, connecting the shelters. Funding for shelter beds since Financial Core with USC and the FY97 has been provided through the entertainment and cultural resources of Los Angeles Homeless Services Exposition Park to the south and Dodger Authority (LAHSA), a joint City and Stadium to the north. During FY00, the County agency providing support for Los Angeles Department of homeless service organizations Transportation, with funding provided by throughout Los Angeles County. the Metropolitan Transportation Authority, initiated the construction of Skid Row Development Corporation, a major street improvements including non-profit organization established in landscaped medians and special 1980 to deal with physical, economic pedestrian crosswalks between and social service needs in Central City Exposition Boulevard in the Hoover East, operates Transition House, a 130 Project Area and Fifth Street in the CBD bed dormitory and counseling center Financial Core. and two industrial complexes, the Commercial-Light Industrial Center and the Renaissance Building, providing space for incubator businesses and industries. In addition, the Agency has CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT Key Accomplishments (Continued) Historic Core crosswalks. This effort reinforces other The 1,274-space Broadway Spring major street improvements in Downtown Center, completed in 1989, provides off- street parking for the Ronald Reagan including the construction of the Hill State Office Building, completed in Street Avenida improvements. 1990, and the Junipero Serra State Building (former Broadway Department Finally, during FY99, the Agency was Store), completed in 1999, and for instrumental in facilitating the adoption customers of Broadway retail stores. of a new City ordinance to streamline The Eastside Parking Facility at Sixth the process for developers seeking and Main Streets, completed in August approvals for the adaptive reuse of 1990, provides 800 spaces for buildings vacant historic buildings into live/work on Sixth, Spring and Main Streets. The housing. Additionally, the Agency Biddy Mason Park, "a vest pocket" park worked with the Departments of linking Broadway and Spring Streets, Planning and Cultural Affairs to modify was completed in 1992. the Mills Act ordinance to provide property tax relief to developers seeking Several historic buildings were approval of adaptive reuse for historic renovated including the Homer Laughlin, building projects. Towards that end, the Bradbury and Banks-Huntley Buildings, Agency has facilitated the approval of which have been seismically upgraded the “Old Bank District” projects being to meet current codes. All of the work implemented by Gilmore and Associates was performed in conformance with the and is providing assistance in the form Secretary of the Interior's standards for of adaptive re-use grants for additional historic buildings. Additionally, Grand conversion projects. Central Market, Los Angeles' premiere public market since its opening in 1917, South Park was renovated, reflecting the Beginning in 1985, the Agency has appearance the market had in the funded the rehabilitation of several older 1930's. The upper floors of the market apartment buildings and single room and the adjacent Metropolitan Water occupancy residential hotels. To date, District Building, at Third Street and approximately 800 existing apartment Broadway, were converted into 121 units have been rehabilitated. Major units of housing and the facades were rehabilitation projects include the Young cleaned and restored to their former Apartments, Villa Metropolitan glory. A 500-space parking structure Apartments (Moore Hall), Hope Manor, was constructed to serve residents and and the adaptive reuse of the former Grand Central Market customers. NCR office building into affordable housing units (TELACU Plaza) and Villa In FY99, the Agency assisted the City Esperanza into senior housing. (Department of Transportation and the Bureau of Public Works) with the Construction was completed on the 200- reconstruction of the roadway along unit Skyline condominiums in 1985, the Broadway including the installation of 270-unit Metropolitan Apartments in improved pedestrian amenities and 1989, and the 192-unit Renaissance Tower in 1995. Located adjacent to CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT Renaissance Tower and on Grand Hope Agreement with Forest City Residential Park, the Fashion Institute of Design West for the construction of 230 units of and Merchandising was completed in market rate, loft style apartments was August 1990. The 2.5-acre Grand Hope approved in FY01. Park, designed by Lawrence Halprin, was completed in 1994. An association In 1993, a major expansion of the
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