Local News in Brief : Plaza Plan Gets a Grant
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Chinatown’s proposed Grand Plaza retail center and elderly housing project will receive a $2.5-million federal urban development grant, U.S. Sen. Pete Wilson (R-Calif.) said Monday.
The Grand Plaza project, to be built on the northwest corner of Sunset Boulevard and Grand Avenue, is to include 53,000 square feet of shopping space, a 240-bed retirement hotel and 238 apartments for senior citizens.
In addition to the urban development grant, Wilson said, the project is being financed by a $3.25-million grant from the Community Redevelopment Agency of Los Angeles, a $23-million permanent loan and $6.25 million from the developer, Lowy Development Corp. of Los Angeles.
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