Travelers to cities with thriving downtowns, such as New York and San Francisco, have long been familiar with one-of-a-kind boutique hotels, but downtown Los Angeles has long been ruled by big chains selling soothing predictability.
That pattern is finally changing as L.A.’s city center becomes a place more people want to visit — and where investors want to make money.
What began as a rarely used path to U.S. citizenship for wealthy foreigners has become big business in American real estate, one that Congress is considering for reform.
The EB-5 immigrant investor program allows citizens of foreign countries to acquire U.S. visas by investing a minimum of $500,000 into American businesses so long as the money creates at least 10 jobs.
A few years ago the program was barely used. By one count, only 346 such visas were issued nationwide in 2005.
The Uline Arena’s days hosting inaugural balls, rock concerts, circuses and sporting events are long gone, but a new chapter is now being written inside the cavernous structure by Third and M streets NE less than a block from the NoMa-Gallaudet U Metro station.
Construction is well underway at what was formally known as the M.J. Uline Ice Company and Arena, which is now enclosed by construction fences. By day, it serves as a hive for dump trucks and work crews gutting the interior of one of the most storied venues in local and national history.
The Washington region has become one of the hottest areas for retailers in recent years, with new restaurants considered among the nation’s best, a slate of tony downtown shops at CityCenterDC and a glut of Whole Foods stores on the way.
Why then, are District officials — along with representatives of Prince George’s County and the state of Maryland — in Las Vegas this week pitching their jurisdictions to chain retailers?
Last week, we showed you how Douglas Development Corp. and its contractor, Davis Construction, moved the first of two historic structures to make way for the massive Square 450 project in Mount Vernon Square.
The gargantuan effort, moving the 880-ton New York Avenue building 34 feet, is an impressive feat. The goal is to “preserve, protect and enhance the historic built environment” in the District, said Joe Baker, a senior project manager with Davis.