Union Station Hot Potato: Metro, High-Speed Rail Authority May Buy Stop

Just weeks ago, Denver-based ProLogis sold Union Station to Fort Worth-based investment company TPG Capital. Now, the Downtown News is reporting that Metro and the California High-Speed Rail Authority may buy it from TPG--discussions are currently underway and a deal could be sealed next month. Metro and the Authority, which is planning the California bullet train, could go in on the 1939 train depot together but it sounds like the exact details of that are being hammered out. DN doesn't mention where cash-strapped Metro, which is considering cutting more bus lines, will find the money for the purchase (TPG bought Union Station and numerous other ProLogis properties for $505 million). For the CSHA, buying Union Station would ease the complications of preparing the train station (new platforms, kiosks, etc.) for the arrival of the bullet trains. Image by Dave Schumaker via flickr
· Metro, High-Speed Rail Group May Buy Union Station [DN]
· Union Station Being Sold to Texans [Curbed LA]
· Union Station Eyed [Curbed LA]