The Culver City city council closed a deal with a developer for a 5.2 acre site adjacent to the under-construction Expo Line station, just before the city's redevelopment agency--formerly guiding the sale--was dissolved by the state last week. The city put out a request for proposals on January 25 and finalized the deal five days later, the Los Angeles Wave reports. Lowe Enterprises beat out a handful of other developers by paying $23.8 million for the parcel and "willingness to build the agency’s preferred project," according to Community Development Director Sol Blumenfeld. Lowe must build "a mix of housing, office, retail and restaurant use surrounding a large central open space amenity and connect seamlessly with the new station and the emerging Washington National Transit Oriented Development District with public plazas, outdoor dining and a strong retail edge to encourage pedestrian activity." The project will have more than 1,500 parking spaces and a third of an acre of open space. This was not Culver City's only swift last minute deal made right before redevelopment agency death day.
· CULVER CITY COUNCIL ACTS FAST ON TRANSIT-ORIENTED DEVELOPMENT SITE [The Wave]
· Expo Line Archives [Curbed LA]