Basketball star Earvin "Magic" Johnson and K. Robert Turner, managing partner of Canyon Johnson Urban Fund (CJUF), raised $ 271.7 million for investments in urban real estate. Foundation considered two draft, both located in Hollywood, California. The first was located at the Hollywood and Highland. Proposed reputable developers who wanted to restore the Hollywood and Highland to its former glory, the development included 640,000 square feet of shopping center, a hotel, and the Kodak Theatre, future home of the Academy Awards. The second mixed-use project located at Sunset and Vine. This property suffered a bad run of previous attempts, and the community has been very critical of past projects, feeling the high price of rent will block local residents and businesses from the market. Hollywood and Highland or Sunset and Vine? Turner plans to make his decision soon. Details of the economy of both projects. "Hide
by Felix Oberholzer-Gee, Alexa Arena Source: Harvard Business School 12 pages. Publication Date: December 10, 2005. Prod. #: 706442-PDF-ENG
