E3 Neighborhood Due for Revitalization

Electronic Entertainment Exposition (E3) attendees may be able to find hotel space adjacent to the Los Angeles Convention Center in a few short years. L.A. Live, a proposed 28-acre, 4 million-square-foot, $1 billion hotel and entertainment complex, is slated for construction next door to the convention center that houses E3 annually. Until last week, the Los Angeles Staples Center was owned by Fox Entertainment Group Inc. (40 percent) and the Anschutz Entertainment Group (60 percent). The Anschutz Group bought Fox’s holding for $200 million June 2, the Los Angeles Times reported, although neither company has confirmed the amount. The Anschutz Group has been eyeing the location for a massive project for some time, according to the company’s president, but needed full ownership of the property first.