Los Angeles County purchased the Gas Company Tower for $200 million, planning to use it as a headquarters. Upgrading the building to be earthquake-proof is estimated at over $230 million. Officials emphasize that the tower is already safe and the upgrades are proactive. The costs are justified when compared to a potential $1 billion retrofit of the vulnerable Kenneth Hahn Hall of Administration. The Gas Company Tower was acquired at a low price, significantly below its previous appraised value of more than $600 million.
The county received final proposals from firms looking to secure a contract for "voluntary seismic upgrades" to the Gas Company Tower, located at 555 W. 5th Street.
The estimated price tag to earthquake-proof the tower: more than $230 million. Lennie LaGuire, a spokesperson for the county Chief Executive Office, said the tower is already safe, and the upgrades are "proactive."
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