[2] The site was to directly block the historic Subway Terminal Building, the original home of the Los Angeles Red Cars.
[1] A slow housing market, troubled economy, and slump in downtown Los Angeles revitalization had put many new projects on hold indefinitely.
[2] October 4, 2008, David Houk said he would break ground on the project next year if he could secure funding, implying that the previous financiers had backed out.
[4] December 12, 2008, Namco, the main financier of the project, was facing legal action for fraud and breach of contract and would not be investing in Park Fifth.
[6][7] In 2014, the new owner, San Francisco real estate investment firm MacFarlane Partners, announced that the Park Fifth development was going ahead with 650 units in a high-rise apartment building.