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Ambassador Files for Bankruptcy.

The owner of the Ambassador Hotel site filed for bankruptcy protection in federal court, blocking plans by the Los Angeles Unified School District to foreclose on the Mid-Wilshire property.

The district wants to build a high school on the site. However, Wilshire Center Marketplace,

which owns the property, wants to develop a shopping center and theater complex there.

The dispute dates back to the early 1990s, when the district tried to condemn the property and paid a $49 million deposit toward its purchase. In 1994, the district decided not to build a school and sought to get its money back.

When Wilshire Center Marketplace was unable to return the money, the district foreclosed and recently revived plans to build a high school there. Wilshire Center Marketplace is asking the court for more time to pay the district.

In addition, make sure to read these articles:

  • Magic Johnson's Group May Redevelop Ambassador Hotel.
    • Just a month after losing its bid to undertake a $120 million redevelopment of Santa Barbara Plaza, Magic Johnson's development firm has entered into negotiations ......
  • School district to pay inflated price for Ambassador.
    • State law prohibits renegotiating summer 1990 price The Los Angeles Unified School District, its hands tied by California's eminent domain law, will likely pay much ......
  • Battle over value of Ambassador site set to begin; Trump, school district appraisals...
    • The long-awaited court battle between Trump Wilshire Associates and the Los Angeles Unified School District over the value of the Ambassador Hotel is scheduled to ......
  • Hotel teardown.
    • Hotel Teardown: A Superior Court judge has ruled that the Los Angeles Unified School District can proceed with its plans to demolish most of the ......
  • 10 YEARS AGO THIS WEEK.
    • Flush with a $50 million award from the state to buy land, ecstatic L.A. school officials predicted they would quickly win a legal battle over ......
  • Sea light
    • Contributing to the picturesque view of the southern shores of the Red Sea is the Ambassador Hotel in Eilat, Israel.
  • K-12 campus under way on site of LA's famed Ambassador Hotel
    • Construction work has commenced on a 491,000-sf K-12 campus on the historic 24-acre site in Los Angeles that once housed the Ambassador Hotel—a once-popular resort ......
  • On The Job
    • Selzer-Ornst Co. is currently constructing the building addition and remodeling of the Ambassador Hotel located on Wisconsin Avenue in the Avenues West neighborhood of Milwaukee....
  • Possible School Sites Identified.
    • Los Angeles school officials said they have. identified enough available land in the downtown area to establish five new campuses for 7,000 students, including those ......
  • Ambassador Hotel furnishings are being turned to cash by auctioneer.
    • Ambassador Hotel furnishings are being turned to cash by auctioneer What's it like to gut one of Los Angeles' landmarks? If you're from Dayton, Ohio, ......
  • "SLEEPING WITH THE AMBASSADOR"
    • The Collage Dance Theatre (prod.) is seeking two male dancers professionally trained in contemporary dance and physical theater for Sleeping With the Ambassador, a site-specific ......
  • SLEEPING WITH THE AMBASSADOR
    • At the grand entrance to the Ambassador Hotel, under the now-sagging Cocoanut Grove awning, a driver inspects his decrepit limo. Slamming the hood, he cues ......
  • 10 YEARS AGO THIS WEEK.
    • Developer Donald Trump rejected a request by L.A. Mayor Tom Bradley to limit the size of what Trump intended to be the tallest building in ......
  • Tear down.
    • Tear Down: Los Angeles Unified School District officials and the L.A. Conservancy reached a deal to raze the Ambassador Hotel. The agreement ends the Conservancy's ......
  • On Location - June 11, 2003
    • While Los Angeles' historic Ambassador Hotel sits in limbo awaiting a decision by its owner, the Los Angeles Unified School District, on whether a school ......
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