No One Can Really Tell The Truth Like John Walsh
Density Hawks Versus Community Doves
The Hollywood Real Estate Mega-Speculators and their bought-and-paid-for-local elected politicians openly concoct bald-faced lies for the general public to eat up, saying that the reason for subways and tall towers built next to their rail stops is to banish evil Gridlock from Los Angeles!
Big RIC’s (Real Estate Industrial Complex) motivation is always un-selfish, according to Big RIC itself!
Make an un-friendly visit to the density hawks’ own website perch (CP & DR) where these odd birds feel free to tell it like it is when gabbing to one another. That’s because they believe that nobody might be eavesdropping on Big RIC and friends communicating on the Internet!
Consider carefully the website below! Draw the obvious conclusions: Don’t the Mega-Speculators sound a whole lot different behind closed cyber-doors compared to the Real Estate Lobby’s incessant mass media pronouncements! The American Communists called this tactic: The Party Line Versus The Mass Line!
The real purpose of building urban transit rail lines is to make a buck out of the cancerous spread of up-scale population growth, which the Density Hawks delight in dubbing: “Elegant Density”!
This scheme has nothing at all to do with getting people out of their cars to reduce freeway congestion. Such tacit internal admissions may be found all over the California Planning & Development Report website below!
Subways actually create congestion from the massive development they make possible through un-restrained Real Estate Speculation!
The massive W-Hotel, next to the Hollywood/ Vine Red Line subway station, incidentally, is a money-loser so far…with only a small fraction of its condos sold to the super-wealthy they were unsuccessfully aimed at! The empty condos are now being rented out at a steep monthly loss!
Since the Blue Line light rail to Long Beach opened in 1990, according to US. Census statistics released recently, auto traffic in LA County has proportionately increased … not decreased!
That’s despite $10 Billion invested in the past 25 years on planning and construction of light and heavy rail, thanks to the 3 LA County sales tax measures passed by the confused voters!
The Red Line ridership forecast found in the Federal-State EIR/EIS turned out to be a figment of MTA’s imagination! The official forecast made to US Department of Transportation in the 1980’s was 300,000 weekday Red Line Subway boardings by the year 2,000. The Red Line’s actual subway ridership for 2012 was appx. 160,000 weekday boardings! That’s pitiful!
The Bus Riders Union has quietly folded its tent, leaving only URLA (United Riders of Los Angeles) to continue this never-ending struggle against Transit Racism that has caused a million hours of MTA bus service cancelled over the past 6 years!
There’s also an additional is 1 Billion dollars (and counting) in deferred MTA Rail maintenance out there which ultimately must be dealt with.
When? How about after the first big rail accident? There is as well $300 million in deferred bus maintenance over our rail -building at-all-costs head! (Google the LA Times for documents that confirm the above!)
There is no place now to examine these critical issues since the MTA Inspector General position remains un-filled by the MTA Board of Directors … amazingly enough since 2007!
Big Rail is supposed to fire up skyscraper construction at the stations. Certainly not at the Hollywood/Western Station where the real estate development situation is so down and out that a station-attached second-hand clothing store found there recently went out-of-business for lack of customers!
All the while ,Hyper-Hollywood Get-Rich Quick Guys in very expensive suits continue indulging in highly profitable strictly-speculative Real Estate transactions that primarily involve gaining entitlements (City approvals) to erect skyscrapers (to be erected perhaps in the dim uncertain future) near these same rail stations or somewhere else in the general vicinity!
The Columbia Square (Historic CBS Bldg. on Sunset Blvd.) just changed speculator hands for $60 million a couple of months ago. The project planning stage has stretched out for more than 15 years with nothing at all to show for the effort. Except a passel of dabbling speculators along the way who became rich!
The brand new two 30-story towers promised as replacement currently remain trapped on the artists’ rendering sketch-pads! Just like the never-built Millennium Project Towers just a couple of Hollywood blocks away!
Meanwhile the abandoned rat-infested CBS Bldg. still sits there …allowed to deteriorate under the noses of all Hollywood!!! (Those are 4-legged Hollywood rats being referred to here…not the two-legged rat variety!
Remember investing in real-time real estate construction and hi-rise office-building operations by shelling out your own corporate financial assets is highly risky business and must be avoided at all costs if a beginner speculator seeks to become fabulously wealthy very, very fast!
Shrewd speculators get super-rich in a hurry simply by investing other people’s money which gets acquired in far-off places like Shanghai or Dubai … merely pocketba healthy cut off the top of that huge overseas investment bankroll that invariably arrives from somewhere far from Hollywood!
That is the cardinal rule of mega-investment. It must never be broken if these gold-plated Hollywood-targeting middlemen seek to become financially super-successful while investing here in Tinseltown!
Never forget what happened to the Downtown Real Estate Giant, McGuire-Thomas, when they started using their own money in their own deals: They promptly went bankrupt!
This is also what CRA as handmaiden to the local Hollywood Lords of Mega-Real Estate Speculation was all about!
CRA was always there in an emergency to subsidize or bail out Mega-Speculator/Developers who got in a jam!
CRA exists no more; having disappeared into thin air thanks to Governor Jerry Brown!
Why not read below what this booster website says about their old friend The Community Redevelopment Agency?