The giant Station Square development proposed for the future Gold Line station in Monrovia is not happening and a huge lawsuit over its death may be on its way out as well, according to the San Gabriel Valley Tribune. City officials may settle a $106 million lawsuit brought by the project's developer, which wanted to build a mixed-use project on 80 acres adjacent to the transit stop, but was stymied by the recession, the location of the train's maintenance yards, and the state-mandated dissolution of community redevelopment agencies last year. When that happened, Samuelson & Fetter was unable to gain control of the land and they sued the city and its former redevelopment agency, claiming losses of $100 million. A settlement would help them recoup their costs and allow them to help build a more modest development that would house about 200 units on two acres. "We're on the city's side here," Fetter says. "The (former redevelopment) agency will pay us a relatively small amount of money to reimburse costs that have occurred in that area." No word on if the new development will encompass the old train depot near the future station.
· Monrovia officials to weigh settlement with developer over $106 million Station Square lawsuit [San Gabriel Valley Tribune]
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