Based on the claims its editors make on Facebook, The Los Angeles Review of Books looks like a great project. Creators Tom Lutz and Julie Cline from UC-Riverside promise multiple reviews of books at different stages of their shelf lives, essays on books and authors, and ample use of multimedia:
We're hoping, in other words, not just to be an alternate delivery form for the dying print book review, but to help develop new ways of fostering the conversation about books and culture.
Their website isn't much right now, but they already have over 1,700 fans on Facebook. I hope they succeed.