History
The building is also known as Library Tower because it was built as part of the $1 billion Los Angeles Central Library redevelopment area following two disastrous fires in 1986, and its location across the street. The City of Los Angeles sold air rights to the developers of the tower to help pay for the reconstruction of the library. The building was also known for a time as First Interstate Bank World Center but the name Library Tower was restored after First Interstate Bancorp merged with Wells Fargo Bank. In March 2003 the property was leased by U.S. Bancorp and the building was renamed U.S. Bank Tower. Residents, however, generally continue to refer to it as Library Tower.
The tower has a large glass crown at its top that is illuminated at night. The crown is lighted with red and green during the Christmas holiday season and lit red around Saint Valentine's Day. It is also lit with purple and gold when the Los Angeles Lakers are playing in the NBA Playoffs and blue and white on Opening Day for the Los Angeles Dodgers and when the Dodgers are playing in the playoffs. The crown was also lit with red, white and blue during the July 4 holidays, but that practice ended in 2003.
On February 28, 2004, two 23 m (75 ft) “U.S. Bank” logo signs were installed on the crown, amid controversy for their effect on the aesthetic appearance of the building, much like the previous First Interstate Bank logos were placed on the crown between 1990 and 1998. First Interstate Bank's “I” logo on the crown was in the 1993 Guinness Book of World Records for highest placed logo.
Read more about this topic: U.S. Bank Tower (Los Angeles)
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