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$1 Billion North Hollywood Project Approved

Yesterday, the Metro board approved negotiating with Lowe Enterprises for a $1 billion insanely huge mixed-use project in North Hollywood. The Daily News' Rick Orlov reports the NoHo Art Wave project will consist of 562 housing units, part of 1.72 million square feet of retail, commercial and residential development. Also in the plans: three office towers, a new YMCA, community buildings and 6,200 parking spaces. To get some idea of what $1 billion buys: The Hollywood & Highland complex cost "$500 million and was known for years as the city's most expensive project," according to the paper.
· Mixed-use project near transit hub moves ahead [Daily News]