Los Angeles is moving forward with plans to sell a valuable parcel of land south of the Angels Flight railway to a developer, and the Downtown News reports that the city has narrowed down a list of potential buyers to just four possible candidates.
The finalists include some of the most prominent players in the city’s development landscape, and it’s not hard to see why. Appraised at more than $20 million in 2015, the parcel includes entitlements for a development of “unlimited height.”
The small plot of land was once the site of Angels Knoll Park—which made a memorable appearance in (500) Days of Summer. The public space was formerly maintained by the city’s Community Redevelopment Agency, but that organization was dissolved in 2012.
Initially, the city intended to purchase the park from the CRA’s successor agency, but the cost of obtaining the land grew too high. Now, the city plans to help arrange a sale to one of the four finalists. Here’s who’s in the running:
The firm is also working on an Expo Line-adjacent mixed use project that Culver City’s planning commissioners seem pretty excited about. Lowe would partner with the Los Angeles offices of prolific architecture firm Gensler on the project.
The Canadian developer behind the planned overhaul of the Historic Core’s Times Mirror Square Complex is working on the project with Natoma Architects, which designed the forthcoming Palladium Residences in Hollywood.
The Peebles Corporation, MacFarlane Group and Claridge Properties
This development team has recruited San Francisco-based Handel Architects to handle design of its proposed project.
Trammell Crow Company
The developer just started work on a big mixed use project near Chinatown called LA Plaza Cultura Village and would work with MAD Architects, the firm designing the futuristic Lucas Museum heading to Exposition Park.
No further details about the four proposals are available at this time, but City Councilmember Jose Huizar tells the Downtown News that formal proposals will be due in October and the city will decide on a winning bidder later this fall.