The LA chapter of the Urban Land Institute held a gathering yesterday to work on the future of transit-oriented development in the city, reports The Source. The most interesting nugget was a tease about Union Station, which was recently bought by Metro. "Along with the station itself, Metro recently purchased 38 acres surrounding it and roughly 5.9 million square feet in entitlements — in other words, the development rights to build the equivalent of several large towers," The Source writes. "In the near future," Metro will have an open call for developers to submit their interest; four or five companies will be winnowed down and asked to expand on their visions before the public weighs in. [The Source]
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