Remember that much-hyped story about a Elkus/Manfredi-designed crazy vertical mall--with a possible housing element--that developer Jerry Snyder said he was looking to put up at the corner of Wilshire and Vermont? Not happening! Despite a glowing Los Angeles Times story published last fall about the project, Synder's purchase of the land from Portland-developer Gerding Edlen fell out of escrow, confirms Thomas Dujovne, Chief Investment Officer at Snyder. According to CRA/LA CEO Cecilia Estolano, Gerding Edlen still owes the land and had planned to do a housing project on it, but of course, it would have been a CRA project so there's a chance nothing is going to happen to the area given the CRA cuts. God, the news is terrible.
The Wilshire side is rich in signs: