The ever dutiful Downtown News has noted that the Grand Avenue project adjecent to the new Disney Hall has been approved by the city of Los Angeles. including a lot of tax breaks. Specifically, there is a subsidy to the hotel portion of the project that existing hotels such as the Bonaventure (a fixture in downtown) objects to.

Seems to me that there is a desire to get some more press-worthy projects in downtown before the news gets out that the bubble has already burst. Seriously, houses with actual land are languishing in neighborhoods that are already gentrified, you think that your vaporware housing in downtown are going to attract buyers? Make me an offer...