ST Alpha - "everyone told Karen Bass to impose a vacancy tax on these things. still waiting afaik -- (link*)" (Reading a Post)

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In response to "I stay in the hotel across from it whenever I'm in LA. It's crazy that the buildings have been abandoned for years -- nm" by MDH

everyone told Karen Bass to impose a vacancy tax on these things. still waiting afaik -- (link*)

Posted by hollywood big shot (aka pickmix) Feb 7 '24, 08:43

(No message)

https://omgivning.com/journal/open-letter-to-los-angeles-mayor-karen-bass-from-aia-omgivning/ (omgivning.com)

Responses:

My understanding is its a foreign company that abandoned the project, so I doubt they would be paying. -- nm - MDH Feb 7, 08:54 8
- But the gov't could then get a lien on the property, and then maybe sell to a new developer. -- nm - Roger More Feb 7, 08:56
- seize it, eminent domain -- nm - hollywood big shot Feb 7, 08:56 6
  - Not disagreeing with you. These things take time though, which is likely part of the holdup. -- nm - MDH Feb 7, 08:57 3
    - Looking it up, there's a wiki page. The property has been listed for sale -- (link) - Roger More Feb 7, 09:00 2
      - the problem seems to be even if you could buy it in a distressed sale situation, it still needs another $1b+ to complete the build out - hollywood big shot Feb 7, 09:10 1
        
        it's all the Chinese fault! -- nm - decline Feb 7, 09:16
  - Taggers did. -- nm - Spawn Feb 7, 08:57 1
    - heh -- nm - mud Feb 7, 08:58

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