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Article: Redevelopment agency stalls at crucial hotel site. (Los Angeles Community Redevelopment Agency fails to approve building of Pacific Basin Plaza by Calmark Holding Co.)
- Article from:
- Los Angeles Business Journal
- Article date:
- April 9, 1990
- Author:
CopyrightCOPYRIGHT 1990 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Redevelopment agency stalls at crucial hotel site
Calmark Holding Co., the Westside real estate development company owned by Uri Sheinbaum, has apparently failed in its bid to win government approval to build the $450 million Pacific Basin Plaza hotel-office complex in downtown Los Angeles, next to the city Convention Center.
After concluding a 270-day period of exclusive negotiations, the City of Los Angeles Community Redevelopment Agency and Calmark could not agree on the scope of the Pacific Basin project or amount of city assistance Calmark should receive.
Last week the seven-member CRA citizen board, meeting in private, made no decision on ...