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LA Board approves $200M Gas Co Tower purchase for relocating earthquake-vulnerable workers.
The Los Angeles County Board of Supervisors has approved a 3-1 vote to pursue the purchase of the Gas Company Tower for up to $200 million.
This move could lead to relocating county workers from older offices deemed vulnerable to earthquakes, such as the 1960-built Kenneth Hahn Hall.
The decision reflects a downturn in the downtown office market, with the building's price significantly lower than its 2020 appraisal of $632 million.
A final vote is required to complete the deal.
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LA Board aprueba la compra de $200M Gas Co Tower para reubicar trabajadores vulnerables al terremoto.