Publications

Investors - JUNE 22, 2018

Los Angeles approves PPP for $950m civic center

by Jody Barhanovich

The City of Los Angeles’ Municipal Facilities Committee has recommended a public-private partnership (PPP) for the development of a new civic center, according to MegaProject. The cost of construction, operation and maintenance of the projected building is projected to be between $915 million and $945 million.

The estimated 27- to 29-story tower will be located on the site of the Parker Center and will host office space, street-level retail and restaurant space, and underground parking.

The proposal for the PPP project calls for demolition to be completed by December 2019 and the new building to open in 2023, according to MegaProject.

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