Los Angeles Developer Scales Down Luxury Tower Project

Law360, New York (January 29, 2013, 8:19 PM ET) -- Developer Colony Holdings LLC unveiled on Tuesday a scaled-down, 25-story version of its proposed luxury apartment and retail tower in Los Angeles, hoping to reverse a city commission's rejection from more than three years ago.

Wanting to break ground in a largely low-rise section of the city that has older apartment stock, the developer told the Los Angeles City Planning Commission the project could spark a new wave of economic activity and similar construction in an area that is about 12 minutes from the city's bustling...
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