Parker Center conversion project rises to $700 million: report

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Parker Center conversion project rises to $700 million: report

Initial estimates put tally at around $480 million

June 12, 2018 05:00PM

Parker Center at 105 N. Los Angeles Street (Credit: Getty Images)

Just how much will it take to get rid of the building named after a controversial figure in Los Angeles’ policing past? About $225 million more than previously expected.

A new city-commissioned report published last month shows the total cost of demolishing the Parker Center and constructing a new office tower on the site would cost about $708 million, up from initial estimates of $483 million.

The previous estimate did not account for rising construction costs or “soft costs,” such as project management, the Los Angeles Times reported.

The building was named after William Parker, the controversial former LA police chief who transformed the department but was also emblematic of the force’s racist past.

Alternatives to the current development plan involve hiring a private party to oversee construction and maintenance, or retrofitting the Welton Becket-designed building and constructing a new tower next door. Both of those options are expected to cost more than $590 million, with the former costing as much as $943 million in current dollars.

Several City Council committees will review the project in the coming months.

In March of 2017 the Los Angeles City Council voted unanimously in favor of a $483 million, 27-story office tower at the former Los Angeles Police Department headquarters at 105 N. Los Angeles Street.

Preservationists, largely the L.A. Conservancy, opposed the project since it would involve eradicating the history of the city’s police force. Many backed the project for that same reason, considering it was named after Parker, who faced accusations of racism and police brutality during his tenure as chief from 1950 to 1966. [LAT] — Natalie Hoberman

Source: TRD LA

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