LOS ANGELES (AP) -- Korean Airlines plans to build a $1 billion skyscraper in downtown Los Angeles that promises to be the tallest building in the West.
The Los Angeles Times reports (http://lat.ms/TQTBpX ) the 73-story tower at Wilshire Boulevard and Figueroa Street will house a hotel and offices.
Korean Airlines has owned the current hotel on the land, the Wilshire Grand Hotel, since 1989 and has already begun dismantling the 1950s-era building.
The tower is expected to open in 2017, and will house 3 floors of restaurants and shops topped by 30 floors of offices for rent, and above that 900 hotel rooms and a restaurant on the 71st floor.
Korean Air is the flagship company for the Hanjin Group, which generates $20 billion in revenue annually from a broad variety of investments.
Information from: Los Angeles Times, http://www.latimes.com
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