A rendering of Chinese developer Oceanwide Real Estate Group's planned $-billion Fig Central project across from Staples Center in downtown Los Angeles. (RTKL Architects Inc.)

A skyline-altering retail, residential and hotel complex with three high-rise towers in the bustling South Park neighborhood in downtown Los Angeles is finally moving forward.

Chinese developer Oceanwide Real Estate Group began leveling several structures this month on a sprawling parking lot across from Staples Center on Figueroa Street, paving the way for an early 2015 groundbreaking. The demolition ends years of inactivity at the 4.6-acre lot — long envisioned as the shopping section of the L.A. Live entertainment complex.......Continue Reading

> via LA Times