Los Angeles Business Journal

Wilshire Grand Demolition to Start Soon

By Jacquelyn Ryan Thursday, September 27, 2012

Demolition of the Wilshire Grand hotel in downtown is expected to begin in the next few weeks.

The razing of the building is the first step toward constructing an 80-story replacement hotel with 900 rooms and 400,000-square-feet of office and retail space.

Korean Air and development partner Martin Project Management of Los Angeles sent out notices this week to property owners, businesses and others near the 930 Wilshire Blvd. site. Demolition had been expected to begin this past summer.

Korean Air, a subsidiary of Korean conglomerate Hanjin Group, has downsized the project since it was announced three years ago. The original plan called for two high-rise towers with 560 hotel rooms and 1.5 million-square-feet office space.

But as the downtown office market remained weak, the project was scaled back to one tower with reduced office space but more hotel rooms. Korean Air also had planned to build the project with Los Angeles developer Thomas Properties Group Inc. but hired Martin Project Management this year.

Concrete barriers will be installed around the site next week. During demolition, expected to take 12 months, the sidewalks will be closed and Francisco Street will be reduced to a one-lane and one-way road for southbound traffic.

Construction is expected to be completed in 2016.