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Korean Air Building a Hotel in Downtown LA

Where: 930 Wilshire Blvd [map], Los Angeles, CA, United States, 90017

Contrary to the prevailing wisdom of the moment, real estate development firm Thomas Property Group, in partnership with Korean Air, has plans to build a new billion-dollar 60-story hotel and condo tower in downtown Los Angeles, where the Wilshire Grand Hotel now stands. The complex would include office space, and an 18,000-square-foot public park.

The building would also be the city’s first new high rise in about 20 years, and Thomas Group Chairman James A. Thomas says that it will satisfy future demand for new office space once Los Angeles bucks the recession. Those Angelenos, always so optimistic.

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