Supervisors OK New 20-Story Tower
Construction of a 20-story office building on the site of the old State Building north of 1st Street between Broadway and Spring Street in downtown Los Angeles was approved Tuesday by the county Board of Supervisors.
The city, county and state will receive $2.5 billion over the 66-year term of a lease with Melvin Simon Associates and Raffi Cohen Inc. The payment will be in exchange for allowing the firm to develop the 4.6-acre site across from City Hall and Times Mirror Square. The lease must still be approved by the city and state.
Plans call for construction of a $140-million, 606,000-square-foot office complex that includes a child-care center, a restaurant and shops and underground parking for 1,600 cars.
The old state building was demolished after it was damaged in the 1971 earthquake. The grassy area was a gathering place for the homeless until it was fenced off last year.
Ground-breaking is expected in early 1991 and completion is scheduled for the spring of 1993.
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