Yesterday, Hanjin International Corporation and Korean Air, working with developer Thomas Properties Group, announced the redevelopment of the Wilshire Grand Hotel and Centre at a press conference.
This project will transform a full city block at the corner of Wilshire Blvd. and Figueroa Street in downtown Los Angeles by replacing the existing, aging Wilshire Grand Hotel and office building with a new mixed-use development including a new four-plus star hotel, a new office building, residential, and amenities including restaurants, retail shops, and landscaped pedestrian plaza.
The good news are that this project will also create an estimated 7,000 on-site construction jobs and an additional 5,000 construction-related jobs for the city of Los Angeles.