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Los Angeles County agrees to buy downtown skyscraper (www.latimes.com)

submitted 3 months ago by SubDRSive@lemmy.whynotdrs.org to c/drs_your_gme@lemmy.whynotdrs.org

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The county of Los Angeles has tentatively agreed to buy the Gas Company Tower, a prominent office skyscraper in downtown Los Angeles, for $215 million in a foreclosure sale.

The price is a deep discount from its appraised value of $632 million in 2020, underscoring how much downtown office values have fallen in recent years.

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[–] SubDRSive@lemmy.whynotdrs.org 1 points 3 months ago

I think they should impound that unfinished Chinese tower with the graffiti and hire homeless people to make it into homeless housing.