Nothing ain’t cheap

first_imgAnd that’s for just 50,001 square feet of hypothetical space. City officials say there’s 9 million square feet of such unused space above the Convention Center just waiting to, um, not be used. So the CRA should be able to make millions more selling nothing. What a city! SO, how much is a legal fiction worth these days? That depends on how much fiction you want to buy. Today, the Community Redevelopment Agency will consider selling “air rights” above the Los Angeles Convention Center to Amacon. Amacon will buy some of the air above the Convention Center, but never build anything there – thus enabling it to build a 28-story project near the Staples Center. That legal fiction will go for just under $1 million. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img

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