Jeez, every time it seem like there's progress on the ever-stalled, decades-old Metropolis project Downtown, there's another hiccup. It now looks like last week's report on the sale of the huge site was premature: the LA Times is now saying that negotiations are still under way for the 6.3-acre site north of LA Live. Back in the '80s, Metropolis was planned as a "city within a city," but it never went anywhere--in fact, one set of plans can be found at the Never Built exhibit at the A+D Museum. But the city has more recently approved plans for "1.65 million square feet of hotels, multifamily housing, offices and stores within five separate buildings" to be built on the parking lot currently found there (more on the existing plans here--it's not clear what the new owner will build). Assuming the sale to a Shanghai-based real estate company does go through, work could start in six to nine months and would cost a grand total of $1 billion.
· Downtown L.A. 'Metropolis' deal under negotiation [LAT]
· DTLA's Metropolis Site Sells For $1B, Works Starts This Year [Curbed LA]